Deal gives the nation’s biggest provider of riskier “non-QM” mortgages additional capacity to offer more traditional loans backed by Fannie and Freddie, FHA, VA and USDA.
Category: Mr. Cooper
Profits roll in at Mr. Cooper as it pursues tech-fueled growth
Deal to acquire Flagstar’s mortgage servicing business and correspondent lending platform is projected to grow Mr. Cooper’s servicing portfolio to $1.59 trillion.
Flagstar shedding 1,900 workers, but many could land at Mr. Cooper
A majority of the 1,200 Flagstar employees being let go in $1.4 billion sale of the company’s mortgage servicing business will be offered the opportunity to transfer to Dallas-based Mr. Cooper.
Mr. Cooper adds to leadership team with eye on technology
Sridhar Sharma, who’s credited with developing Mr. Cooper’s patented AI, has been promoted to a new role, and three new tech leaders are joining from other companies.
Newrez laying off nearly 500 workers after Rithm acquisitions
Pending layoffs of 420 Newrez employees in Colorado and 53 workers in Florida follow $1.4 billion in acquisitions as parent company Rithm seeks to diversify beyond mortgage lending.
Xome’s DIY platform lets investors sell homes without an agent
Homeowners can’t sell a primary residence through Xome’s seller portal without a listing agent, but can hire an agent on their own or ask Xome to match them with one.
Ransomware group claims it was behind loanDepot cyberattack
The FBI has developed a decryption tool to combat the ALPHV/Blackcat ransomware variant, and authorities are offering $15 million in rewards to stop the group.
Mr. Cooper remains shut down one week after cyberattack
Over 4 million mortgage customers have been unable to make their payments since the company announced it had been attacked on Oct. 31.
Audits find fault with help provided to FHA borrowers during pandemic
Loan servicer Mr. Cooper is ‘deeply disappointed’ that the HUD OIG audit focused on problems it says were mostly technical, rather than on borrower outcomes.