Mr. Cooper Group Inc. (COOP)

Overview

Mr. Cooper Group Inc., alongside its subsidiaries, stands as a prominent non-bank servicer of residential mortgage loans across the United States. Engaging in the business through its Servicing and Originations segments, Mr. Cooper Group provides a comprehensive range of services catering to investors or owners of the mortgages and associated rights. Initially known as WMIH Corp., the company underwent a name change to Mr. Cooper Group Inc. in October 2018, marking a significant rebranding since its incorporation in 2015. Headquartered in Coppell, Texas, Mr. Cooper Group has established itself as a key player in the mortgage servicing and origination industry, offering its services under the reputable Mr. Cooper and Xome brands.

Products and Services

• Servicing

This segment entails performing a variety of critical tasks on behalf of the mortgage investors or owners. It includes the collection and disbursal of borrower payments, delivering accurate and timely investor reporting, ensuring high-quality customer service, undertaking loan modifications, conducting collections, managing foreclosures, and handling the sale of properties owned (REO). These activities are essential for the maintenance and management of mortgage loans, facilitating investor and borrower satisfaction.

• Originations

Under the Originations segment, Mr. Cooper Group specializes in the initial creation of residential mortgage loans. This process is conducted through two main channels: direct-to-consumer, where loans are made directly to the borrower, and correspondent, where loans are originated through third-party lenders but ultimately funded by Mr. Cooper Group. This segment plays a crucial role in enabling homeownership for a wide range of customers, offering various mortgage products catered to meet diverse borrower needs.