New York Community Bancorp Subsidiary Flagstar Bank Agreed To Sell Its Residential Mortgage Servicing Business To Mr. Cooper For $1.4B; Transaction To Close By Q4

7/25/24 7:06:57 AM ET

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Flagstar Bank, N.A. (the "Bank"), the bank subsidiary of New York Community Bancorp, Inc. (NYSE:NYCB) (the "Company") announced today that, it entered into a definitive agreement to sell its residential mortgage servicing business, including mortgage servicing rights and the third-party origination platform to Mr. Cooper (NASDAQ:COOP), a leading non-bank mortgage originator and servicer for approximately $1.4 billion. The transaction is expected to close during the fourth quarter of 2024.

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Recent Analyst Ratings for
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$NYCB

Company	Date	Price Target	Rating	Analyst
New York Community Bancorp Inc. $NYCB	9/26/2024	$14.00	Equal Weight → Overweight	Barclays
Mr. Cooper Group Inc. $COOP	7/22/2024	$95.00	Outperform → Mkt Perform	Keefe Bruyette
New York Community Bancorp Inc. $NYCB	5/1/2024	$3.00 → $3.50	Underperform → Neutral	Wedbush
New York Community Bancorp Inc. $NYCB	5/1/2024	$4.00	Neutral → Overweight	Piper Sandler
New York Community Bancorp Inc. $NYCB	3/18/2024	$3.00	Mkt Perform → Underperform	Raymond James
New York Community Bancorp Inc. $NYCB	3/8/2024	$4.00	Equal Weight	Barclays
New York Community Bancorp Inc. $NYCB	3/1/2024	$8.00 → $5.00	Overweight → Neutral	Piper Sandler
New York Community Bancorp Inc. $NYCB	2/8/2024	$8.50 → $5.00	Buy → Neutral	DA Davidson

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Financials

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NEW YORK COMMUNITY BANCORP, INC. DECLARES QUARTERLY CASH DIVIDENDS ON ITS COMMON STOCK AND PREFERRED STOCKS
HICKSVILLE, N.Y., Oct. 25, 2024 /PRNewswire/ -- New York Community Bancorp, Inc. (NYSE:NYCB) (the "Company") today announced that its Board of Directors declared a quarterly cash dividend of $0.01 per share on the Company's common stock. The dividend is payable on December 17, 2024 to common stockholders of record as of December 7, 2024. In addition, the Board of Directors declared quarterly cash dividends on two series of its preferred stock. A quarterly cash dividend on its Fixed-to-Floating Rate Noncumulative Perpetual Preferred Stock, Series A (NYSE:NYCB) at the rate of $
10/25/24 4:05:00 PM ET
$NYCB
Banks
Finance
NEW YORK COMMUNITY BANCORP, INC. REPORTS THIRD QUARTER 2024 GAAP NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS OF $0.79 PER DILUTED SHARE AND NON-GAAP NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS OF $0.69 PER DILUTED SHARE
STRONG MOMENTUM CONTINUES WITH OUR TURNAROUND STRATEGY AS DEPOSITS GREW ANOTHER $4 BILLION OR 5% AND MORE KEY HIRES JOIN WHOLESALE BORROWINGS DECREASED OVER 30% AND A LOAN TO DEPOSIT RATIO OF 86% MAINTAINED A SOLID ALLOWANCE FOR CREDIT LOSSES RATIO OF 1.87% COMPARED TO 1.78% LAST QUARTER CONTINUE TO DE-RISK LOAN PORTFOLIO AS COMMERCIAL REAL ESTATE EXPOSURE DECLINED ANOTHER 3% STRONG CAPITAL LEVELS AND LIQUIDITY POSITION HICKSVILLE, N.Y., Oct. 25, 2024 /PRNewswire/ -- New York Community Bancorp, Inc. (NYSE:NYCB) ("the Company"), the holding company for Flagstar Bank, N.A. (the "Bank"), today reported its results for the third quarter of 2024. The Company reported a net loss of $280 million f
10/25/24 7:00:00 AM ET
$NYCB
Banks
Finance
Mr. Cooper Group Reports Third Quarter 2024 Results
Reported net income of $80 million including other mark-to-market of ($126) million, equivalent to ROCE of 6.9% and operating ROTCE of 16.8% Book value per share and tangible book value per share increased to $72.49 and $69.93 Servicing portfolio grew 32% y/y to $1,239 billion Repurchased 0.5 million shares of common stock for $46 million Issued $750 million senior notes priced at 6.5% Certified as Great Place to Work for the 6th year in a row Mr. Cooper Group Inc. (NASDAQ:COOP) (the "Company"), reported third quarter income before income tax expense of $112 million and net income of $80 million. Excluding other mark-to-market and other adjustments, the Company reported pretax
10/23/24 7:00:00 AM ET
$COOP
Finance: Consumer Services
Finance

FLAGSTAR BANK EXPANDS COMMERCIAL AND PRIVATE BANKING LEADERSHIP TEAM WITH KEY EXECUTIVE APPOINTMENTS
HICKSVILLE, N.Y., Sept. 16, 2024 /PRNewswire/ -- Flagstar Bank, N.A., the bank subsidiary (the "Bank") of New York Community Bancorp, Inc., (NYSE:NYCB) (the "Company"), announced today the expansion of its Commercial and Private Banking leadership team with the appointment of four accomplished senior executives. "We are excited to welcome four outstanding new senior executives to our Commercial and Private Banking team," said Joseph Otting, Chairman, President, and CEO, Flagstar Bank. "Their deep expertise and impressive track records are crucial as we enhance our client cover
9/16/24 8:30:00 AM ET
$NYCB
Banks
Finance
LendingPoint Appoints Shawn Stone as Chief Executive Officer
LendingPoint, the award-winning online loan origination and servicing platform, announced the appointment of Shawn Stone, a longtime financial services executive, as the Company's new Chief Executive Officer and member of the Board. LendingPoint is a financial technology platform that provides financing solutions to a wide range of customers, including lending institutions and consumers. The company's proprietary fraud prevention, risk, and asset management algorithms are used to create financing opportunities across the credit spectrum. Mr. Stone is a senior financial services executive with more than 25 years of experience in online loan origination, loan servicing operations, credit
8/7/24 8:00:00 AM ET
$COOP
Finance: Consumer Services
Finance
NEW YORK COMMUNITY BANCORP, INC. FURTHER STRENGTHENS LEADERSHIP TEAM WITH NEW EXECUTIVE MANAGEMENT APPOINTMENTS
HICKSVILLE, N.Y., July 23, 2024 /PRNewswire/ -- Flagstar Bank, N.A., the bank subsidiary (the "Bank") of New York Community Bancorp, Inc., (NYSE:NYCB) (the "Company"), announced today the appointment of nine seasoned leaders to its leadership team, effective immediately. These additions further enhance the Company's oversight of core businesses and client-focused operations, bringing a blend of financial, commercial, private banking, IT, credit, and regulatory pedigree to the organization. Joseph Otting, Chairman, President, and CEO, commented on the new appointments, "Driving
7/23/24 5:30:00 PM ET
$NYCB
Banks
Finance

Mr. Cooper Completes Acquisition of Flagstar's Mortgage Operations
Mr. Cooper Group Inc. ("Mr. Cooper") announced today that it has closed the previously announced acquisition of Flagstar Bank N.A. ("Flagstar")'s mortgage operations. The transaction included acquisition of MSRs, advances, subservicing contracts, and Flagstar's third-party origination platform for approximately $1.3 billion in cash. Mr. Cooper's Chairman and CEO Jay Bray commented, "This acquisition demonstrates our ability to deliver full-service solutions to financial institutions and other clients, helping them manage their balance sheet and legacy and ongoing operations to achieve their strategic goals. We welcome Flagstar's customers, clients, and team members to Mr. Cooper and expect
11/1/24 4:30:00 PM ET
$COOP
Finance: Consumer Services
Finance
NEW YORK COMMUNITY BANCORP, INC. DECLARES QUARTERLY CASH DIVIDENDS ON ITS COMMON STOCK AND PREFERRED STOCKS
HICKSVILLE, N.Y., Oct. 25, 2024 /PRNewswire/ -- New York Community Bancorp, Inc. (NYSE:NYCB) (the "Company") today announced that its Board of Directors declared a quarterly cash dividend of $0.01 per share on the Company's common stock. The dividend is payable on December 17, 2024 to common stockholders of record as of December 7, 2024. In addition, the Board of Directors declared quarterly cash dividends on two series of its preferred stock. A quarterly cash dividend on its Fixed-to-Floating Rate Noncumulative Perpetual Preferred Stock, Series A (NYSE:NYCB) at the rate of $
10/25/24 4:05:00 PM ET
$NYCB
Banks
Finance
NEW YORK COMMUNITY BANCORP, INC. REPORTS THIRD QUARTER 2024 GAAP NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS OF $0.79 PER DILUTED SHARE AND NON-GAAP NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS OF $0.69 PER DILUTED SHARE
STRONG MOMENTUM CONTINUES WITH OUR TURNAROUND STRATEGY AS DEPOSITS GREW ANOTHER $4 BILLION OR 5% AND MORE KEY HIRES JOIN WHOLESALE BORROWINGS DECREASED OVER 30% AND A LOAN TO DEPOSIT RATIO OF 86% MAINTAINED A SOLID ALLOWANCE FOR CREDIT LOSSES RATIO OF 1.87% COMPARED TO 1.78% LAST QUARTER CONTINUE TO DE-RISK LOAN PORTFOLIO AS COMMERCIAL REAL ESTATE EXPOSURE DECLINED ANOTHER 3% STRONG CAPITAL LEVELS AND LIQUIDITY POSITION HICKSVILLE, N.Y., Oct. 25, 2024 /PRNewswire/ -- New York Community Bancorp, Inc. (NYSE:NYCB) ("the Company"), the holding company for Flagstar Bank, N.A. (the "Bank"), today reported its results for the third quarter of 2024. The Company reported a net loss of $280 million f
10/25/24 7:00:00 AM ET
$NYCB
Banks
Finance

New York Community Bancorp Subsidiary Flagstar Bank Agreed To Sell Its Residential Mortgage Servicing Business To Mr. Cooper For $1.4B; Transaction To Close By Q4

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Recent Analyst Ratings for $COOP$NYCB

$COOP$NYCB Financials

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NEW YORK COMMUNITY BANCORP, INC. DECLARES QUARTERLY CASH DIVIDENDS ON ITS COMMON STOCK AND PREFERRED STOCKS

NEW YORK COMMUNITY BANCORP, INC. REPORTS THIRD QUARTER 2024 GAAP NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS OF $0.79 PER DILUTED SHARE AND NON-GAAP NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS OF $0.69 PER DILUTED SHARE

Mr. Cooper Group Reports Third Quarter 2024 Results

$COOP$NYCB Large Ownership Changes

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Amendment: SEC Form SC 13D/A filed by New York Community Bancorp Inc.

Amendment: SEC Form SC 13D/A filed by New York Community Bancorp Inc.

Amendment: SEC Form SC 13D/A filed by New York Community Bancorp Inc.

$COOP$NYCB SEC Filings

SEC Form 8-K filed by New York Community Bancorp Inc.

New York Community Bancorp Inc. filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

New York Community Bancorp Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

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FLAGSTAR BANK EXPANDS COMMERCIAL AND PRIVATE BANKING LEADERSHIP TEAM WITH KEY EXECUTIVE APPOINTMENTS

LendingPoint Appoints Shawn Stone as Chief Executive Officer

NEW YORK COMMUNITY BANCORP, INC. FURTHER STRENGTHENS LEADERSHIP TEAM WITH NEW EXECUTIVE MANAGEMENT APPOINTMENTS

New York Community upgraded by Barclays with a new price target

Mr. Cooper Group downgraded by Keefe Bruyette with a new price target

New York Community upgraded by Wedbush with a new price target

Mr. Cooper Completes Acquisition of Flagstar's Mortgage Operations

NEW YORK COMMUNITY BANCORP, INC. DECLARES QUARTERLY CASH DIVIDENDS ON ITS COMMON STOCK AND PREFERRED STOCKS

NEW YORK COMMUNITY BANCORP, INC. REPORTS THIRD QUARTER 2024 GAAP NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS OF $0.79 PER DILUTED SHARE AND NON-GAAP NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS OF $0.69 PER DILUTED SHARE

Chief Executive Officer Bray Jesse K gifted 5,520 shares (SEC Form 4)

EVP and Chief Risk Officer Buchanan George was granted 63,345 shares, increasing direct ownership by 228% to 91,122 units (SEC Form 4)

EVP & Princ Accounting Officer Marx Bryan was granted 18,581 shares, increasing direct ownership by 224% to 26,885 units (SEC Form 4)

$COOP$NYCB Market Insights

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New York Community Bancorp shares are trading lower after the company reported worse-than-expected Q2 financial results. Also, the company announced the approval of the sale of its residential mortgage business to Mr. Cooper for $1.4 billion.

New York Community Q2 2024 Adj EPS $(1.05) Misses $(0.42) Estimate, Sales $557.000M Miss $600.962M Estimate