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    Mr. Cooper Group Reports First Quarter 2025 Results

    4/23/25 7:00:00 AM ET
    $COOP
    Finance: Consumer Services
    Finance
    Get the next $COOP alert in real time by email
    • Reported net income of $88 million including other mark-to-market of ($82) million, equivalent to ROCE of 7.3% and operating ROTCE of 16.8%
    • Servicing portfolio grew 33% y/y to $1,514 billion
    • Won 2024 Fannie Mae Star Award
    • Announced combination with Rocket Companies

    Mr. Cooper Group Inc. (NASDAQ:COOP) (the "Company"), reported first quarter income before income tax expense of $95 million and net income of $88 million. Excluding other mark-to-market and other adjustments, the Company reported pretax operating income of $255 million. Adjustments included other mark-to-market net of hedges of $82 million and other items shown below in the reconciliation of GAAP and non-GAAP results.

    Chairman and CEO Jay Bray commented, "This was another strong quarter, highlighting the power of our platform to deliver consistent, recurring, and predictable results, as well as higher returns. I'm proud of our team for their hard work, which has positioned Mr. Cooper to join forces with Rocket to create the industry's leading integrated homeownership platform. We have formed an integration team and are already working closely with Rocket on post-close planning."

    President Mike Weinbach added, "I'm incredibly proud of the team's execution, evident in continued positive operating leverage in servicing, while our originations team did a tremendous job helping customers access liquidity through cash-out refi's and second liens."

    Servicing

    The Servicing segment provides a best-in-class home loan experience for our 6.5 million customers while simultaneously strengthening asset performance for investors. In the first quarter, Servicing recorded pretax income of $214 million, including other mark-to-market of $82 million. The servicing portfolio ended the quarter at $1,514 billion. Servicing generated pretax operating income, excluding other mark-to-market, of $332 million. At quarter end, the carrying value of the MSR was $11,345 million equivalent to 155 bps of MSR UPB.

     

    Quarter Ended

    ($ in millions)

    Q1'25

     

    Q4'24

     

    $

     

    BPS

     

    $

     

    BPS

    Operational revenue

    $

    707

     

     

     

    18.5

     

     

    $

    672

     

     

     

    19.1

     

    Amortization, net of accretion

     

    (223

    )

     

     

    (5.8

    )

     

     

    (264

    )

     

     

    (7.5

    )

    Mark-to-market

     

    (81

    )

     

     

    (2.1

    )

     

     

    94

     

     

     

    2.7

     

    Total revenues

     

    403

     

     

     

    10.6

     

     

     

    502

     

     

     

    14.3

     

    Total expenses

     

    (240

    )

     

     

    (6.3

    )

     

     

    (185

    )

     

     

    (5.3

    )

    Total other income, net

     

    51

     

     

     

    1.3

     

     

     

    76

     

     

     

    2.2

     

    Income before taxes

     

    214

     

     

     

    5.6

     

     

     

    393

     

     

     

    11.2

     

    Other mark-to-market

     

    82

     

     

     

    2.1

     

     

     

    (92

    )

     

     

    (2.6

    )

    Accounting items

     

    26

     

     

     

    0.7

     

     

     

    9

     

     

     

    0.3

     

    Intangible amortization

     

    10

     

     

     

    0.3

     

     

     

    8

     

     

     

    0.2

     

    Pretax operating income excluding other mark-to-market and accounting items

    $

    332

     

     

     

    8.7

     

     

    $

    318

     

     

     

    9.1

     

     

     

     

     

     

     

     

     

     

     

     

    Quarter Ended

     

    Q1'25

     

    Q4'24

    MSRs UPB ($B)

    $ 

    734

     

     

    $ 

    736

     

    Subservicing and Other UPB ($B)

     

     

    780

     

     

     

     

    820

     

    Ending UPB ($B)

    $ 

    1,514

     

     

    $ 

    1,556

     

    Average UPB ($B)

    $ 

    1,531

     

     

    $ 

    1,407

     

    60+ day delinquency rate at period end

     

     

    1.5

    %

     

     

     

    1.6

    %

    Annualized CPR

     

     

    5.0

    %

     

     

     

    7.5

    %

    Modifications and workouts

     

    35,250

     

     

     

    24,899

     

    Originations

    The Originations segment creates servicing assets at attractive margins by acquiring loans through the correspondent channel and refinancing existing loans through the direct-to-consumer channel. Originations earned pretax income of $45 million and pretax operating income of $53 million.

    The Company funded 32,296 loans in the first quarter, totaling approximately $8.3 billion UPB, which was comprised of $1.9 billion in direct-to-consumer and $6.4 billion in correspondent. Funded volume decreased 10% quarter-over-quarter, while pull through adjusted volume decreased 2% quarter-over-quarter to $8.8 billion.

     

    Quarter Ended

    ($ in millions)

    Q1'25

     

    Q4'24

    Income before taxes

    $

    45

     

    $

    46

    Accounting items

     

    8

     

     

    1

    Pretax operating income excluding accounting items

    $

    53

     

    $

    47

     

    Quarter Ended

    ($ in millions)

     

    Q1'25

     

    Q4'24

    Total pull through adjusted volume

    $

    8,842

     

     

    $

    9,063

     

    Funded volume

    $

    8,319

     

     

    $

    9,290

     

    Refinance recapture percentage

     

    51

    %

     

     

    35

    %

    Recapture percentage

     

    19

    %

     

     

    21

    %

    Purchase volume as a percentage of funded volume

     

    72

    %

     

     

    65

    %

    Webcast and Investor Presentation

    The Company will release its first quarter 2025 financial results on April 23, 2025 at 7:00 A.M. Eastern Time. The press release, investor presentation, and a recording of prepared remarks will be available under the investors section on Mr. Cooper Group's website, www.mrcoopergroup.com.

    Non-GAAP Financial Measures

    The Company utilizes non-GAAP financial measures as the measures provide additional information to assist investors in understanding and assessing the Company's and our business segments' ongoing performance and financial results, as well as assessing our prospects for future performance. The adjusted operating financial measures facilitate a meaningful analysis and allow more accurate comparisons of our ongoing business operations because they exclude items that may not be indicative of or are unrelated to the Company's and our business segments' core operating performance, and are better measures for assessing trends in our underlying businesses. These notable items are consistent with how management views our businesses. Management uses these non-GAAP financial measures in making financial, operational and planning decisions and evaluating the Company's and our business segment's ongoing performance. Pretax operating income (loss) in the servicing segment eliminates the effects of mark-to-market adjustments which primarily reflects unrealized gains or losses based on the changes in fair value measurements of MSRs and their related financing liabilities for which a fair value accounting election was made. These adjustments, which can be highly volatile and material due to changes in credit markets, are not necessarily reflective of the gains and losses that will ultimately be realized by the Company. Pretax operating income (loss) in each segment also eliminates, as applicable, transition and integration costs, gains (losses) on sales of fixed assets, certain settlement costs that are not considered normal operational matters, intangible amortization, change in equity method investments, fair value change in equity investments and other adjustments based on the facts and circumstances that would provide investors a supplemental means for evaluating the Company's core operating performance. Return on tangible common equity (ROTCE) is computed by dividing net income by average tangible common equity (also known as tangible book value). Tangible common equity equals total stockholders' equity less goodwill and intangible assets. Management believes that ROTCE is a useful financial measure because it measures the performance of a business consistently and enables investors and others to assess the Company's use of equity. Tangible book value is defined as stockholders' equity less goodwill and intangible assets. Our management believes tangible book value is useful to investors because it provides a more accurate measure of the realizable value of shareholder returns, excluding the impact of goodwill and intangible assets.

    Forward Looking Statements

    Any statements in this release that are not historical or current facts are forward looking statements. Forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Results for any specified quarter are not necessarily indicative of the results that may be expected for the full year or any future period. Certain of these risks and uncertainties are described in the "Risk Factors" section of Mr. Cooper Group's most recent annual reports and other required documents as filed with the SEC which are available at the SEC's website at http://www.sec.gov. Mr. Cooper undertakes no obligation to publicly update or revise any forward-looking statement or any other financial information contained herein, and the statements made in this press release are current as of the date of this release only.

    Financial Tables

    MR. COOPER GROUP INC. AND SUBSIDIARIES

    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (millions of dollars, except for earnings per share data)

     

     

    Three Months Ended

    March 31, 2025

     

    Three Months Ended

    December 31, 2024

    Revenues:

     

     

     

    Service related, net

    $

    440

     

     

    $

    537

     

    Net gain on mortgage loans held for sale

     

    120

     

     

     

    117

     

    Total revenues

     

    560

     

     

     

    654

     

    Total expenses:

     

    430

     

     

     

    367

     

    Other (expense) income, net:

     

     

     

    Interest income

     

    189

     

     

     

    216

     

    Interest expense

     

    (213

    )

     

     

    (220

    )

    Other expense, net

     

    (11

    )

     

     

    (3

    )

    Total other expense, net

     

    (35

    )

     

     

    (7

    )

    Income before income tax expense

     

    95

     

     

     

    280

     

    Income tax expense

     

    7

     

     

     

    76

     

    Net income

    $

    88

     

     

    $

    204

     

     

     

     

     

    Earnings per share:

     

     

     

    Basic

    $

    1.38

     

     

    $

    3.20

     

    Diluted

    $

    1.35

     

     

    $

    3.13

     

    Weighted average shares of common stock outstanding (in millions):

     

     

     

    Basic

     

    63.7

     

     

     

    63.8

     

    Diluted

     

    65.0

     

     

     

    65.1

     

    MR. COOPER GROUP INC. AND SUBSIDIARIES

    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

    (millions of dollars)

     

     

    March 31, 2025

     

    December 31, 2024

    Assets

     

     

     

    Cash and cash equivalents

    $

    784

     

    $

    753

    Restricted cash

     

    166

     

     

    220

    Mortgage servicing rights at fair value

     

    11,345

     

     

    11,736

    Advances and other receivables, net

     

    1,061

     

     

    1,345

    Mortgage loans held for sale at fair value

     

    2,603

     

     

    2,211

    Property and equipment, net

     

    63

     

     

    58

    Deferred tax assets, net

     

    217

     

     

    230

    Other assets

     

    2,207

     

     

    2,386

    Total assets

    $

    18,446

     

    $

    18,939

     

     

     

     

    Liabilities and Stockholders' Equity

     

     

     

    Unsecured senior notes, net

    $

    4,896

     

    $

    4,891

    Advance, warehouse and MSR facilities, net

     

    6,313

     

     

    6,495

    Payables and other liabilities

     

    1,949

     

     

    2,322

    MSR related liabilities - nonrecourse at fair value

     

    398

     

     

    418

    Total liabilities

     

    13,556

     

     

    14,126

    Total stockholders' equity

     

    4,890

     

     

    4,813

    Total liabilities and stockholders' equity

    $

    18,446

     

    $

    18,939

    UNAUDITED SEGMENT STATEMENT OF

    OPERATIONS & EARNINGS RECONCILIATION

    (millions of dollars, except for earnings per share data)

     

     

    Three Months Ended March 31, 2025

     

    Servicing

     

    Originations

     

    Corporate/

    Other

     

    Consolidated

     

     

     

     

     

     

     

     

    Service related, net

    $

    397

     

     

    $

    26

     

     

    $

    17

     

     

    $

    440

     

    Net gain on mortgage loans held for sale

     

    6

     

     

     

    114

     

     

     

    —

     

     

     

    120

     

    Total revenues

     

    403

     

     

     

    140

     

     

     

    17

     

     

     

    560

     

    Total expenses

     

    240

     

     

     

    95

     

     

     

    95

     

     

     

    430

     

    Other income (expense), net:

     

     

     

     

     

     

     

    Interest income

     

    157

     

     

     

    29

     

     

     

    3

     

     

     

    189

     

    Interest expense

     

    (106

    )

     

     

    (26

    )

     

     

    (81

    )

     

     

    (213

    )

    Other expense, net

     

    —

     

     

     

    (3

    )

     

     

    (8

    )

     

     

    (11

    )

    Total other income (expense), net

     

    51

     

     

     

    —

     

     

     

    (86

    )

     

     

    (35

    )

    Pretax income (loss)

    $

    214

     

     

    $

    45

     

     

    $

    (164

    )

     

    $

    95

     

    Income tax expense

     

     

     

     

     

     

     

    7

     

    Net income

     

     

     

     

     

     

    $

    88

     

    Earnings per share

     

     

     

     

     

     

     

    Basic

     

     

     

     

     

     

    $

    1.38

     

    Diluted

     

     

     

     

     

     

    $

    1.35

     

     

     

     

     

     

     

     

     

    Non-GAAP Reconciliation:

     

     

     

     

     

     

     

    Pretax income (loss)

    $

    214

     

     

    $

    45

     

     

    $

    (164

    )

     

    $

    95

     

    Other mark-to-market

     

    82

     

     

     

    —

     

     

     

    —

     

     

     

    82

     

    Accounting items / other

     

    26

     

     

     

    8

     

     

     

    34

     

     

     

    68

     

    Intangible amortization

     

    10

     

     

     

    —

     

     

     

    —

     

     

     

    10

     

    Pretax operating income (loss)

    $

    332

     

     

    $

    53

     

     

    $

    (130

    )

     

    $

    255

     

    Income tax expense(1)

     

     

     

     

     

     

     

    (62

    )

    Operating income

     

     

     

     

     

     

    $

    193

     

    Operating ROTCE(2)

     

     

     

     

     

     

     

    16.8

    %

    Average tangible book value (TBV)(3)

     

     

     

     

     

     

    $

    4,597

     

    (1)  

    Assumes tax-rate of 24.2%.

    (2)  

    Computed by dividing annualized earnings by average TBV.

    (3)  

    Average of beginning TBV of $4,553 and ending TBV of $4,641.

    UNAUDITED SEGMENT STATEMENT OF

    OPERATIONS & EARNINGS RECONCILIATION

    (millions of dollars, except for earnings per share data)

     

     

    Three Months Ended December 31, 2024

     

    Servicing

     

    Originations

     

    Corporate/

    Other

     

    Consolidated

     

     

     

     

     

     

     

     

    Service related, net

    $

    493

     

     

    $

    27

     

     

    $

    17

     

     

    $

    537

     

    Net gain on mortgage loans held for sale

     

    9

     

     

     

    108

     

     

     

    —

     

     

     

    117

     

    Total revenues

     

    502

     

     

     

    135

     

     

     

    17

     

     

     

    654

     

    Total expenses

     

    185

     

     

     

    90

     

     

     

    92

     

     

     

    367

     

    Other income (expense), net:

     

     

     

     

     

     

     

    Interest income

     

    184

     

     

     

    32

     

     

     

    —

     

     

     

    216

     

    Interest expense

     

    (108

    )

     

     

    (31

    )

     

     

    (81

    )

     

     

    (220

    )

    Other expense, net

     

    —

     

     

     

    —

     

     

     

    (3

    )

     

     

    (3

    )

    Total other income (expense), net

     

    76

     

     

     

    1

     

     

     

    (84

    )

     

     

    (7

    )

    Pretax income (loss)

    $

    393

     

     

    $

    46

     

     

    $

    (159

    )

     

    $

    280

     

    Income tax expense

     

     

     

     

     

     

     

    76

     

    Net income

     

     

     

     

     

     

    $

    204

     

    Earnings per share

     

     

     

     

     

     

     

    Basic

     

     

     

     

     

     

    $

    3.20

     

    Diluted

     

     

     

     

     

     

    $

    3.13

     

     

     

     

     

     

     

     

     

    Non-GAAP Reconciliation:

     

     

     

     

     

     

     

    Pretax income (loss)

    $

    393

     

     

    $

    46

     

     

    $

    (159

    )

     

    $

    280

     

    Other mark-to-market

     

    (92

    )

     

     

    —

     

     

     

    —

     

     

     

    (92

    )

    Accounting items / other

     

    9

     

     

     

    1

     

     

     

    29

     

     

     

    39

     

    Intangible amortization

     

    8

     

     

     

    —

     

     

     

    —

     

     

     

    8

     

    Pretax operating income (loss)

    $

    318

     

     

    $

    47

     

     

    $

    (130

    )

     

    $

    235

     

    Income tax expense

     

     

     

     

     

     

     

    (57

    )

    Operating income(1)

     

     

     

     

     

     

    $

    178

     

    Operating ROTCE(2)

     

     

     

     

     

     

     

    15.8

    %

    Average tangible book value (TBV)(3)

     

     

     

     

     

     

    $

    4,514

    (1)  

    Assumes tax-rate of 24.2%.

    (2)  

    Computed by dividing annualized earnings by average TBV.

    (3)  

    Average of beginning TBV of $4,474 and ending TBV of $4,553.

    Non-GAAP Reconciliation:

    Quarter Ended

    ($ in millions except value per share data)

    Q1'25

     

    Q4'24

    Stockholders' equity (BV)

    $

    4,890

     

     

    $

    4,813

     

    Goodwill

     

    (141

    )

     

     

    (141

    )

    Intangible assets

     

    (108

    )

     

     

    (119

    )

    Tangible book value (TBV)

    $

    4,641

     

     

    $

    4,553

     

    Ending shares of common stock outstanding (in millions)

     

    64.0

     

     

     

    63.6

     

     

     

     

     

    BV/share

    $

    76.43

     

     

    $

    75.70

     

    TBV/share

    $

    72.53

     

     

    $

    71.61

     

     

     

     

     

    Net income

    $

    88

     

     

    $

    204

     

    ROCE(1)

     

    7.3

    %

     

     

    17.3

    %

     

     

     

     

    Beginning stockholders' equity

    $

    4,813

     

     

    $

    4,638

     

    Ending stockholders' equity

    $

    4,890

     

     

    $

    4,813

     

    Average stockholders' equity (BV)

    $

    4,852

     

     

    $

    4,726

     

    (1)  

    Return on Common Equity (ROCE) is computed by dividing annualized earnings by average BV.

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250423248951/en/

    Investor Contact:

    Kenneth Posner, SVP Strategic Planning and Investor Relations

    [email protected]

    Media Contact:

    Christen Reyenga, VP Corporate Communications

    [email protected]

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    4/21/2022Neutral
    BTIG Research
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    $COOP
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    • Mr. Cooper Group Reports First Quarter 2025 Results

      Reported net income of $88 million including other mark-to-market of ($82) million, equivalent to ROCE of 7.3% and operating ROTCE of 16.8% Servicing portfolio grew 33% y/y to $1,514 billion Won 2024 Fannie Mae Star Award Announced combination with Rocket Companies Mr. Cooper Group Inc. (NASDAQ:COOP) (the "Company"), reported first quarter income before income tax expense of $95 million and net income of $88 million. Excluding other mark-to-market and other adjustments, the Company reported pretax operating income of $255 million. Adjustments included other mark-to-market net of hedges of $82 million and other items shown below in the reconciliation of GAAP and non-GAAP results. C

      4/23/25 7:00:00 AM ET
      $COOP
      Finance: Consumer Services
      Finance
    • Mr. Cooper Group Inc. to Release First Quarter 2025 Financial Results on April 23, 2025

      Mr. Cooper Group Inc. (NASDAQ:COOP) will release its first quarter 2025 financial results on April 23, 2025 at 7:00 A.M. Eastern Time. The press release, investor presentation, and a recording of prepared remarks will be available under the investors section on Mr. Cooper Group's website, www.mrcoopergroup.com. About Mr. Cooper Group Inc. Mr. Cooper Group Inc. (NASDAQ:COOP) provides quality servicing, origination and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands: Mr. Cooper®, Xome®, and Rushmore Servicing®. Mr. Cooper is the largest home loan servicer in the country focused on delivering a v

      4/9/25 7:53:00 PM ET
      $COOP
      Finance: Consumer Services
      Finance
    • Mr. Cooper, America's Largest Servicer, Joins Rocket, the Nation's Largest Lender

      Combined company to service more than $2.1 trillion in loan volumeIntegrating Rocket's originations-servicing recapture flywheel with Mr. Cooper's servicing platform will drive down costs and improve the experience for the companies' nearly 10 million combined clients, representing one in every six mortgagesTransaction is expected to generate annual run-rate revenue and cost synergies of approximately $500 million, contributing to organic revenue growth while increasing operating leverage and maintaining significant capital and liquidity. This announcement follows Rocket's recent agreement to acquire digital brokerage platform RedfinCompanies to host conference call and webcast today at 8:00

      3/31/25 7:00:00 AM ET
      $COOP
      $RKT
      Finance: Consumer Services
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    $COOP
    Insider Trading

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    • Director Scheiwe Steven D was granted 997 shares, increasing direct ownership by 2% to 49,596 units (SEC Form 4)

      4 - Mr. Cooper Group Inc. (0000933136) (Issuer)

      5/23/25 4:16:28 PM ET
      $COOP
      Finance: Consumer Services
      Finance
    • Director Olson Tagar was granted 997 shares, increasing direct ownership by 4% to 24,306 units (SEC Form 4)

      4 - Mr. Cooper Group Inc. (0000933136) (Issuer)

      5/23/25 4:15:26 PM ET
      $COOP
      Finance: Consumer Services
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    • Director Mujumdar Shveta was granted 997 shares, increasing direct ownership by 4% to 24,740 units (SEC Form 4)

      4 - Mr. Cooper Group Inc. (0000933136) (Issuer)

      5/23/25 4:14:30 PM ET
      $COOP
      Finance: Consumer Services
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    • Mr. Cooper Group Inc. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders

      8-K - Mr. Cooper Group Inc. (0000933136) (Filer)

      5/22/25 4:15:39 PM ET
      $COOP
      Finance: Consumer Services
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    • SEC Form 425 filed by Mr. Cooper Group Inc.

      425 - Mr. Cooper Group Inc. (0000933136) (Subject)

      4/23/25 5:14:48 PM ET
      $COOP
      Finance: Consumer Services
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    • SEC Form 10-Q filed by Mr. Cooper Group Inc.

      10-Q - Mr. Cooper Group Inc. (0000933136) (Filer)

      4/23/25 4:27:23 PM ET
      $COOP
      Finance: Consumer Services
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    $COOP
    Insider Purchases

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    • Weinbach Michael S bought $1,209,720 worth of shares (17,000 units at $71.16) (SEC Form 4)

      4 - Mr. Cooper Group Inc. (0000933136) (Issuer)

      2/14/24 4:15:59 PM ET
      $COOP
      Finance: Consumer Services
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    $COOP
    Large Ownership Changes

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    • SEC Form SC 13G/A filed by Mr. Cooper Group Inc. (Amendment)

      SC 13G/A - Mr. Cooper Group Inc. (0000933136) (Subject)

      4/8/22 4:31:49 PM ET
      $COOP
      Finance: Consumer Services
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    • SEC Form SC 13G/A filed by Mr. Cooper Group Inc. (Amendment)

      SC 13G/A - Mr. Cooper Group Inc. (0000933136) (Subject)

      3/28/22 3:19:55 PM ET
      $COOP
      Finance: Consumer Services
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    • SEC Form SC 13G/A filed by Mr. Cooper Group Inc. (Amendment)

      SC 13G/A - Mr. Cooper Group Inc. (0000933136) (Subject)

      2/14/22 10:39:54 AM ET
      $COOP
      Finance: Consumer Services
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    $COOP
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    • Mr. Cooper Group downgraded by Piper Sandler with a new price target

      Piper Sandler downgraded Mr. Cooper Group from Overweight to Neutral and set a new price target of $143.00

      4/4/25 8:38:05 AM ET
      $COOP
      Finance: Consumer Services
      Finance
    • JMP Securities initiated coverage on Mr. Cooper Group with a new price target

      JMP Securities initiated coverage of Mr. Cooper Group with a rating of Mkt Outperform and set a new price target of $115.00

      1/14/25 7:51:14 AM ET
      $COOP
      Finance: Consumer Services
      Finance
    • Mr. Cooper Group downgraded by Keefe Bruyette with a new price target

      Keefe Bruyette downgraded Mr. Cooper Group from Outperform to Mkt Perform and set a new price target of $95.00

      7/22/24 7:19:58 AM ET
      $COOP
      Finance: Consumer Services
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    $COOP
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    • Mr. Cooper Group Reports First Quarter 2025 Results

      Reported net income of $88 million including other mark-to-market of ($82) million, equivalent to ROCE of 7.3% and operating ROTCE of 16.8% Servicing portfolio grew 33% y/y to $1,514 billion Won 2024 Fannie Mae Star Award Announced combination with Rocket Companies Mr. Cooper Group Inc. (NASDAQ:COOP) (the "Company"), reported first quarter income before income tax expense of $95 million and net income of $88 million. Excluding other mark-to-market and other adjustments, the Company reported pretax operating income of $255 million. Adjustments included other mark-to-market net of hedges of $82 million and other items shown below in the reconciliation of GAAP and non-GAAP results. C

      4/23/25 7:00:00 AM ET
      $COOP
      Finance: Consumer Services
      Finance
    • Mr. Cooper Group Announces Leadership Transition at Xome

      Mr. Cooper Group Inc. (NASDAQ:COOP) announced today that Mike Rawls, Chief Executive Officer of Xome®, plans to retire effective June 30, 2025, and Chris Marshall, former Vice Chairman and President at Mr. Cooper, will join Xome to lead its operations. Rawls and Marshall will work together over the coming months to ensure a smooth transition. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250109604730/en/Mike Rawls plans to retire as CEO of Xome, effective June 30, 2025. (Photo: Business Wire) "Since taking on the role of CEO in 2020, Mike has skillfully led Xome to become the powerhouse real estate marketplace it is today, with

      1/9/25 4:30:00 PM ET
      $COOP
      Finance: Consumer Services
      Finance
    • Mr. Cooper Group Adds Former Fannie Mae Executive and Industry Veteran Andrew Bon Salle to Board of Directors

      Mr. Cooper Group Inc. (NASDAQ:COOP) announced today the appointment of Andrew Bon Salle to its board of directors, effective January 1, 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241216488517/en/(Photo: Business Wire) Bon Salle brings more than 30 years of experience in capital markets, risk management, securitization and mortgage policy leadership within the home lending sector. Most recently, he served as Chairman of the Board of Directors of Home Point Capital Inc. Prior to that, he was Executive Vice President of the Single-Family Mortgage business at Fannie Mae where he oversaw capital market functions, managed cu

      12/16/24 4:30:00 PM ET
      $COOP
      Finance: Consumer Services
      Finance
    • Mr. Cooper Group Inc. to Release First Quarter 2025 Financial Results on April 23, 2025

      Mr. Cooper Group Inc. (NASDAQ:COOP) will release its first quarter 2025 financial results on April 23, 2025 at 7:00 A.M. Eastern Time. The press release, investor presentation, and a recording of prepared remarks will be available under the investors section on Mr. Cooper Group's website, www.mrcoopergroup.com. About Mr. Cooper Group Inc. Mr. Cooper Group Inc. (NASDAQ:COOP) provides quality servicing, origination and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands: Mr. Cooper®, Xome®, and Rushmore Servicing®. Mr. Cooper is the largest home loan servicer in the country focused on delivering a v

      4/9/25 7:53:00 PM ET
      $COOP
      Finance: Consumer Services
      Finance
    • Mr. Cooper, America's Largest Servicer, Joins Rocket, the Nation's Largest Lender

      Combined company to service more than $2.1 trillion in loan volumeIntegrating Rocket's originations-servicing recapture flywheel with Mr. Cooper's servicing platform will drive down costs and improve the experience for the companies' nearly 10 million combined clients, representing one in every six mortgagesTransaction is expected to generate annual run-rate revenue and cost synergies of approximately $500 million, contributing to organic revenue growth while increasing operating leverage and maintaining significant capital and liquidity. This announcement follows Rocket's recent agreement to acquire digital brokerage platform RedfinCompanies to host conference call and webcast today at 8:00

      3/31/25 7:00:00 AM ET
      $COOP
      $RKT
      Finance: Consumer Services
      Finance
    • Mr. Cooper Group Reports Fourth Quarter 2024 Results

      Reported net income of $204 million including other mark-to-market of $92 million, equivalent to ROCE of 17.3% and operating ROTCE of 15.8% Book value per share and tangible book value per share increased to $75.70 and $71.61 Servicing portfolio grew 57% y/y to $1,556 billion Repurchased 0.4 million shares of common stock for $38 million Completed acquisition of Flagstar's mortgage operations Recognized as the top mortgage servicer by Freddie Mac, receiving 2024 SHARP Gold Award Mr. Cooper Group Inc. (NASDAQ:COOP) (the "Company"), reported fourth quarter income before income tax expense of $280 and net income of $204 million. Excluding other mark-to-market and other

      2/12/25 7:00:00 AM ET
      $COOP
      Finance: Consumer Services
      Finance