Articles from Mr. Cooper Group Inc.

Mr. Cooper Group Inc. (NASDAQCOOP) 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.

Mr. Cooper Group Inc. (NASDAQCOOP) announced today the appointment of Andrew Bon Salle to its board of directors, effective January 1, 2025.

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 Group Inc. (NASDAQCOOP) (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 operating income of $246 million. Adjustments included other mark-to-market net of hedges of $126 million and other items shown below in the reconciliation of GAAP and non-GAAP results.

Mr. Cooper Group Inc. (NASDAQCOOP) announced today several senior leadership updates as the company continues to focus on innovation with investments in new technologies and artificial intelligence to better support customers on their homeownership journey.

Mr. Cooper Group Inc. (NASDAQCOOP) will discuss its financial results for the third quarter 2024 on October 23, 2024 at 10:00 A.M. Eastern Time. A copy of the press release and investor presentation will be posted prior to the call under the investors section on Mr. Cooper Group’s website, www.mrcoopergroup.com. Pre-registration for the call is now open by following the registration link here. Participants will receive a toll-free dial-in number and a unique registrant ID to be used for immediate call access. A simultaneous audio webcast of the conference call will be available under the investors section on www.mrcoopergroup.com.

Mr. Cooper Group Inc. (NASDAQCOOP) announced today that Jay Bray, Chairman and Chief Executive Officer, Mike Weinbach, President, and Kurt Johnson, Executive Vice President and Chief Financial Officer, are scheduled to present at the Barclays Global Financial Services Conference on Tuesday, September 10, 2024 at 3:30 P.M. Eastern Time as part of a fireside chat.

Mr. Cooper Group Inc. (NASDAQCOOP) (“Mr. Cooper”) announced the pricing of an offering by Nationstar Mortgage Holdings Inc., a direct wholly-owned subsidiary of Mr. Cooper (“Nationstar”), of $750,000,000 6.500% Senior Notes due 2029 (the “Notes”). The Notes will bear interest at 6.500% per annum and will mature on August 1, 2029. Interest on the Notes will be payable semi-annually on February 1 and August 1 of each year, beginning on February 1, 2025.

Mr. Cooper Group Inc. (NASDAQCOOP) (the “Company”), reported second quarter income before income tax expense of $277 million and net income of $204 million. Excluding other mark-to-market and other adjustments, the Company reported pretax operating income of $219 million. Adjustments included other mark-to-market net of hedges of $68 million and other items shown below in the reconciliation of GAAP and non-GAAP results.

Mr. Cooper Group Inc. (NASDAQCOOP) will discuss its financial results for the second quarter 2024 on July 25, 2024 at 10:00 A.M. Eastern Time. A copy of the press release and investor presentation will be posted prior to the call under the investors section on Mr. Cooper Group’s website, www.mrcoopergroup.com. Pre-registration for the call is now open by following the registration link here. Participants will receive a toll-free dial-in number and a unique registrant ID to be used for immediate call access. A simultaneous audio webcast of the conference call will be available under the investors section on www.mrcoopergroup.com.

Xome®, a leading online real estate marketplace, today announced its DIY sales platform, which allows investors full transparency and control from their property listing to post-closing, all in real time and with no seller’s fees or agent required.

Mr. Cooper Group Inc. (NASDAQCOOP) (the “Company”), reported first quarter income before income tax expense of $232 and net income of $181 million. Excluding other mark-to-market and other adjustments, the Company reported pretax operating income of $199 million. Adjustments included other mark-to-market net of hedges of $42 million and other items shown below in the reconciliation of GAAP and non-GAAP results.

Mr. Cooper Group Inc. (NASDAQCOOP) announced today the appointment of two new senior leaders. Ranjit Bhattacharjee will join the executive leadership team on May 6, 2024, as Executive Vice President and Chief Investment Officer, overseeing capital markets and correspondent lending for the company and reporting to Chairman and CEO Jay Bray. Kevin Barker assumed the role of Senior Vice President, Corporate Finance on April 22, 2024, leading the company’s business finance teams and reporting to Chief Financial Officer Kurt Johnson.

Mr. Cooper Group Inc. (NASDAQCOOP) will discuss its financial results for the first quarter 2024 on April 24, 2024 at 10:00 A.M. Eastern Time. A copy of the press release and investor presentation will be posted prior to the call under the investors section on Mr. Cooper Group’s website, www.mrcoopergroup.com. Pre-registration for the call is now open by following the registration link here. Participants will receive a toll-free dial-in number and a unique registrant ID to be used for immediate call access. A simultaneous audio webcast of the conference call will be available under the investors section on www.mrcoopergroup.com.

Mr. Cooper Group Inc. (NASDAQCOOP) (the “Company”), reported fourth quarter income before income tax expense of $69 and net income of $46 million. Excluding other mark-to-market and other adjustments, the Company reported pretax operating income of $151 million. Adjustments included other mark-to-market net of hedges of $41 million, $27 million related to the previously disclosed cyber event, and other items shown below in the reconciliation of GAAP and non-GAAP results.

Mr. Cooper Group Inc. (NASDAQCOOP) (“Mr. Cooper”) announced the pricing of an offering by Nationstar Mortgage Holdings Inc., a direct wholly-owned subsidiary of Mr. Cooper (“Nationstar”), of $1,000,000,000 7.125% Senior Notes due 2032 (the “Notes”). The Notes will bear interest at 7.125% per annum and will mature on February 1, 2032. Interest on the Notes will be payable semi-annually on February 1 and August 1 of each year, beginning on August 1, 2024.

Mr. Cooper Group Inc. (NASDAQCOOP) will discuss its financial results for the fourth quarter 2023 on February 9, 2024 at 10:00 A.M. Eastern Time. A copy of the press release and investor presentation will be posted prior to the call under the investors section on Mr. Cooper Group’s website, www.mrcoopergroup.com. Pre-registration for the call is now open by following the registration link here. Participants will receive a toll-free dial-in number and a unique registrant ID to be used for immediate call access. A simultaneous audio webcast of the conference call will be available under the investors section on www.mrcoopergroup.com.

Mr. Cooper Group Inc. (NASDAQCOOP) announced today the appointment of Mike Weinbach as President, effective February 1, 2024, with responsibility for leading the Company’s operations, including Originations, Servicing and Technology.

Mr. Cooper Group Inc. (NASDAQCOOP) (the “Company”) reported third quarter net income of $275 million. Excluding other mark-to-market and certain other items, pretax operating income was $249 million, which benefitted from a $67 million gain from the collapse of a securitization trust. Excluding that gain, operating return on equity was 13.8% in the quarter. Other mark to market adjustment was $61 million, and other items included a $96 million preliminary bargain purchase gain related to the Home Point Capital Acquisition, a $39 million loss associated with equity investments primarily related to the sale of our Title business in 2021, and other items as is reconciled below.

Xome®, a leading real estate marketplace, today announced the launch of Xome Auction Simulator™, a game which allows users to learn and experience the thrill of online real estate auctions. Through this gamified simulation, novice investors can get more comfortable with the process of finding and evaluating properties and participating in real-world auctions, all in a fun environment with no real-world financial risk.

Mr. Cooper Group Inc. (NASDAQCOOP) will discuss its financial results for the third quarter 2023 on October 25, 2023 at 10:00 A.M. Eastern Time. A copy of the press release and investor presentation will be posted prior to the call under the investors section on Mr. Cooper Group’s website, www.mrcoopergroup.com. Pre-registration for the call is now open by following the registration link here. Participants will receive a toll-free dial-in number and a unique registrant ID to be used for immediate call access. A simultaneous audio webcast of the conference call will be available under the investors section on www.mrcoopergroup.com.

Mr. Cooper Group Inc. (NASDAQCOOP) announced today that Jay Bray, Chairman and Chief Executive Officer, Chris Marshall, Vice Chairman and President, and Kurt Johnson, Executive Vice President and Chief Financial Officer, are scheduled to present at the Barclays Global Financial Services Conference on Tuesday, September 12, 2023 at 9:45 A.M. Eastern Time as part of a fireside chat.

Mr. Cooper Group Inc. (“Mr. Cooper”) announced today that it has completed its acquisition of the investment management firm, Roosevelt Management Company, LLC (“Roosevelt”) and its affiliated subsidiaries. This acquisition, which includes a registered investment advisor and licensed MSR owner, positions Mr. Cooper to move forward with its MSR-related asset management strategy.

Mr. Cooper Group Inc. (“Mr. Cooper”) announced today that it has successfully acquired Home Point Capital Inc. (“Home Point”).

Mr. Cooper Group Inc. (NASDAQCOOP) (the “Company”), which principally operates under the Mr. Cooper® and Xome® brands, reported a second quarter net income of $142 million or $2.07 per diluted share. Net income included other mark-to-market of $61 million, which excludes fair value of excess spread accretion of $2 million. Excluding other mark-to-market and other items, the Company reported pretax operating income of $150 million. Other items included $6 million related to Rushmore acquisition deal costs, $1 million charge due to severance, $4 million loss associated with equity investments, and $2 million in intangible amortization.

Mr. Cooper Group Inc. (NASDAQCOOP) (“Mr. Cooper”) announced today that Heisman Merger Sub, Inc. (“Purchaser”), a wholly owned subsidiary of Mr. Cooper, has extended the expiration date of its offer (the “Offer”) to acquire all of the outstanding shares of common stock of Home Point Capital Inc. NASDAQ: HMPTNASDAQHMPT)

Mr. Cooper Group Inc. (NASDAQCOOP) will discuss its financial results for the second quarter 2023 on July 26, 2023 at 10:00 A.M. Eastern Time. A copy of the press release and investor presentation will be posted prior to the call under the investors section on Mr. Cooper Group’s website, www.mrcoopergroup.com. Pre-registration for the call is now open by following the registration link here. Participants will receive a toll-free dial-in number and a unique registrant ID to be used for immediate call access. A simultaneous audio webcast of the conference call will be available under the investors section on www.mrcoopergroup.com.

Mr. Cooper Group Inc. (NASDAQCOOP) (“Mr. Cooper”) announced today that Heisman Merger Sub, Inc. (“Purchaser”), a wholly owned subsidiary of Mr. Cooper, has extended the expiration date of its offer (the “Offer”) to acquire all of the outstanding shares of common stock of Home Point Capital Inc. NASDAQ: HMPTNASDAQHMPT)

Mr. Cooper Group Inc. (“Mr. Cooper”) and Home Point Capital Inc. (“Home Point”), announced today the signing of a definitive agreement for Mr. Cooper to acquire all outstanding shares of Home Point for approximately $324 million in cash. As part of the transaction, Mr. Cooper will assume $500 million in outstanding Home Point 5% senior notes which are due in February 2026. The transaction is expected to close in the third quarter of 2023, subject to customary closing conditions including receipt of regulatory approvals. Following the onboarding of Home Point customers and the closing of the transaction, Mr. Cooper will shut down the remaining Home Point operations.

Mr. Cooper Group Inc. (NASDAQCOOP) (the “Company”), which principally operates under the Mr. Cooper® and Xome® brands, reported a first quarter net income of $37 million or $0.52 per diluted share. Net income included other mark-to-market of $63 million, which excludes fair value of excess spread accretion of $2 million. Excluding other mark-to-market and other items, the Company reported pretax operating income of $110 million. Other items included $1 million charge due to severance and $10 million loss associated with equity investments, and $1 million in intangible amortization.

Mr. Cooper Group Inc. (NASDAQCOOP) will discuss its financial results for the first quarter 2023 on April 26, 2023 at 10:00 A.M. Eastern Time. A copy of the press release and investor presentation will be posted prior to the call under the investors section on Mr. Cooper Group’s website, www.mrcoopergroup.com. Pre-registration for the call is now open by following the registration link here. Participants will receive a toll-free dial-in number and a unique registrant ID to be used for immediate call access. A simultaneous audio webcast of the conference call will be available under the investors section on www.mrcoopergroup.com.

Mr. Cooper Group Inc. (NASDAQCOOP) announced two executive leadership appointments today – the appointment of Kurt Johnson to Chief Financial Officer and Christine Paxton as Executive Vice President and Chief Risk and Compliance Officer.

Mr. Cooper Group Inc. (NASDAQCOOP) announced today the appointment of Carlos M. Pelayo as Executive Vice President and Chief Legal Officer. Pelayo will lead the company’s legal department and corporate governance functions and will serve on the executive leadership team.

Mr. Cooper Group Inc. (NASDAQCOOP) (the “Company”), which principally operates under the Mr. Cooper® and Xome® brands, reported a fourth quarter net income of $1 million or $0.01 per diluted share. Net income included other mark-to-market of $58 million, which excludes fair value of excess spread accretion of $2 million. Excluding other mark-to-market and other items, the Company reported pretax operating income of $82 million. Other items included $23 million charge due to severance and property consolidation and $10 million loss associated with equity investments, and $1 million loss in intangible amortization.

Mr. Cooper Group Inc. (NASDAQCOOP) will discuss its financial results for the fourth quarter 2022 on Friday, February 10, 2023 at 10:00 A.M. Eastern Time. A copy of the press release and investor presentation will be posted prior to the call under the investors section on Mr. Cooper Group’s website, www.mrcoopergroup.com. Pre-registration for the call is now open by following the registration link here. Participants will receive a toll-free dial-in number and a unique registrant ID to be used for immediate call access. A simultaneous audio webcast of the conference call will be available under the investors section on www.mrcoopergroup.com.

Mr. Cooper Group Inc. (NASDAQCOOP) (the “Company”), which principally operates under the Mr. Cooper® and Xome® brands, reported a third quarter net income of $113 million or $1.55 per diluted share. Net income included other mark-to-market of $122 million, which excludes fair value of excess spread accretion of $2 million. Excluding other mark-to-market and other items, the Company reported pretax operating income of $56 million. Other items included $18 million loss associated with equity investments, $5 million loss in lease breakage and other charges, and $2 million loss in intangible amortization.

Mr. Cooper Group Inc. (NASDAQCOOP) will discuss its financial results for the third quarter 2022 on Wednesday, October, 26, 2022 at 10:00 A.M. Eastern Time. A copy of the press release and investor presentation will be posted prior to the call under the investors section on Mr. Cooper Group’s website, www.mrcoopergroup.com. Pre-registration for the call is now open by following the registration link here. Participants will receive a toll-free dial-in number and a unique registrant ID to be used for immediate call access. A simultaneous audio webcast of the conference call will be available under the investors section on www.mrcoopergroup.com.

Xome® announced today it has appointed James Curl as Senior Vice President and Chief Technology Officer. Curl brings more than 15 years of experience leading technology and innovation teams at major organizations such as T-Mobile and Deloitte, where he oversaw large scale digital transformation initiatives.

Great Place to Work® and Fortune have honored Mr. Cooper Group Inc. (NASDAQCOOP) as one of the 2022 Best Workplaces in Financial Services & Insurance™.

Mr. Cooper Group Inc. (NASDAQCOOP) announced today that Jay Bray, Chairman and Chief Executive Officer, Chris Marshall, Vice Chairman and President, and Jaime Gow, Executive Vice President and Chief Financial Officer, are scheduled to present at the Barclays Global Financial Services Conference on Tuesday, September 13, 2022 at 9:00 A.M. Eastern Time as part of a fireside chat.

Mr. Cooper Group Inc. (NASDAQCOOP) (the “Company”), which principally operates under the Mr. Cooper® and Xome® brands, reported a second quarter net income of $151 million or $2.03 per diluted share. Net income included an other mark-to-market of $196 million, which excludes fair value of excess spread accretion of $4 million. Excluding other mark-to-market and other items, the Company reported pretax operating income of $17 million. Other items included $3 million in severance charges, $3 million in transaction costs related to the acquisition of our new default servicing business, $1 million in facilities consolidation costs, and $1 million in intangible amortization.

Mr. Cooper Group Inc. (NASDAQCOOP) will discuss its financial results for the second quarter 2022 on Wednesday, July 27, 2022 at 10:00 A.M. Eastern Time. A copy of the press release and investor presentation will be posted prior to the call under the investors section on Mr. Cooper Group’s website, www.mrcoopergroup.com. Pre-registration for the call is now open by following the registration link here. Participants will receive a toll-free dial-in number and a unique registrant ID to be used for immediate call access. A simultaneous audio webcast of the conference call will be available under the investors section on www.mrcoopergroup.com.

Xome® today announced it has joined with the National Community Stabilization Trust (NCST) to expand access to affordable housing in the U.S. Through the program, eligible mission-driven buyers dedicated to creating more affordable housing will have exclusive first-look access to properties available for sale on Xome.com – helping them identify potential properties for revitalization while keeping the dream of homeownership alive for thousands of American families.

Mr. Cooper Group Inc. (NASDAQCOOP) (the “Company”), which principally operates under the Mr. Cooper® and Xome® brands, reported a first quarter net income of $658 million or $8.59 per diluted share. Net income included other mark-to-market of $552 million, which excludes fair value of excess spread accretion of $1 million. Excluding other mark-to-market and other items, the Company reported pretax operating income of $96 million. Other items included $223 million gain from the Sagent transaction, $3 million in charges related to severance, and $2 million of intangible amortization.

Mr. Cooper Group Inc. (NASDAQCOOP) announced today the appointment of Jaime Gow as Executive Vice President and Chief Financial Officer.

Mr. Cooper Group Inc. (NASDAQCOOP) will discuss its financial results for the first quarter 2022 on Thursday, April 28, 2022 at 4:30 P.M. Eastern Time. A copy of the press release and investor presentation will be posted thirty minutes prior to the call under the investors section on Mr. Cooper Group’s website, www.mrcoopergroup.com. Pre-registration for the call is now open by visiting http://www.directeventreg.com/registration/event/1470118. Participants will receive a toll-free dial-in number and a unique registrant ID to be used for immediate call access. A simultaneous audio webcast of the conference call will be available under the investors section on www.mrcoopergroup.com.

Mr. Cooper Group Inc. (“Mr. Cooper”) announced today that it has completed its previously-announced agreement with Sagent M&C, LLC, d/b/a Sagent Lending Technologies (“Sagent”). Under the terms of this transaction, Sagent purchased certain intellectual property rights related to Mr. Cooper’s proprietary, cloud-based technology platform for mortgage servicing, and Mr. Cooper has received an equity stake in Sagent and appointed two directors to Sagent’s board. This agreement will leverage Mr. Cooper’s mortgage servicing depth and Sagent’s software innovation speed to create the industry’s first cloud-native, homeowner-first servicing platform. Mr. Cooper will also become a multi-year customer of Sagent.

Mr. Cooper Group Inc. (“Mr. Cooper” or “the Company”) and Sagent M&C, LLC (“Sagent”) announced today the execution of a definitive agreement under which Sagent will buy certain intellectual property rights related to Mr. Cooper’s proprietary, cloud-based technology platform for mortgage servicing, and Mr. Cooper will receive an equity stake in Sagent. This agreement will leverage Mr. Cooper’s mortgage servicing depth and Sagent’s software innovation speed to create the industry’s first cloud-native, homeowner-first servicing platform. Mr. Cooper will also become a multi-year customer of Sagent.

Mr. Cooper Group Inc. (NASDAQCOOP) (the “Company”), which principally operates under the Mr. Cooper® and Xome® brands, reported a fourth quarter net income of $155 million or $2.01 per diluted share. The Company reported pretax income of $231 million and pretax operating income of $156 million, which excluded mark-to-market and other items. The mark-to-market adjustment was $46 million in the quarter and other items included $34 million gain from the sale of Xome Field Services, $3 million in charges related to severance and $2 million of intangible amortization.

Mr. Cooper Group Inc. (NASDAQCOOP) announced today the appointment of Daniela Jorge to its board of directors. Jorge currently serves as Vice President and Chief Design Officer at PayPal, a leading financial technology company and online payments system.

Mr. Cooper Group Inc. (NASDAQCOOP) will discuss its financial results for the fourth quarter 2021 on Friday, February 11, 2022 at 10:00 A.M. Eastern Time. A copy of the press release and investor presentation will be posted prior to the call under the investors section on Mr. Cooper Group’s website, www.mrcoopergroup.com. Pre-registration for the call is now open by visiting http://www.directeventreg.com/registration/event/7271516. Participants will receive a toll-free dial-in number and a unique registrant ID to be used for immediate call access. A simultaneous audio webcast of the conference call will be available under the investors section on www.mrcoopergroup.com.

Mr. Cooper Group Inc. (“Mr. Cooper Group” or “the Company”) announced today that it has completed the sale of its Reverse servicing portfolio, operating under the Champion Mortgage brand, to Mortgage Assets Management, LLC and its affiliates.

Mr. Cooper Group Inc. (NASDAQCOOP) (the “Company”), which principally operates under the Mr. Cooper® and Xome® brands, reported a third quarter net income of $299 million or $3.29 per diluted share. The Company reported pretax operating income of $263 million, which excluded mark-to-market and other items. The mark-to-market adjustment was $153 million in the quarter and other items included $7 million gain from the sale of Xome valuations, $4 million in transaction-related costs associated with the Title365 sale, $2 million in charges related to corporate actions, $3 million of intangible amortization, and $15 million pretax loss from discontinued operations.

Mr. Cooper Group Inc. (NASDAQCOOP) will discuss its financial results for the third quarter 2021 on Thursday, October 28, 2021 at 10:00 A.M. Eastern Time. A copy of the press release and investor presentation will be posted prior to the call under the investors section on Mr. Cooper Group’s website, www.mrcoopergroup.com. Pre-registration for the call is now open by visiting http://www.directeventreg.com/registration/event/3974467. Participants will receive a toll-free dial-in number and a unique registrant ID to be used for immediate call access. A simultaneous audio webcast of the conference call will be available under the investors section on www.mrcoopergroup.com.

Mr. Cooper Group Inc. (NASDAQCOOP) announced today it is Great Place to Work-Certified™ for the third year in a row. Great Place to Work® is the global authority on workplace culture, employee experience and the leadership behaviors proven to deliver market-leading revenue, employee retention and increased innovation. The prestigious award is based entirely on what current team members say about their experience working at Mr. Cooper Group.

Mr. Cooper Group Inc. (“Mr. Cooper” or “the Company”) announced today that it has entered into a definitive agreement to sell its Xome Field Services unit to Cyprexx Services LLC (“Cyprexx”). The sale is expected to close during the fourth quarter of 2021, subject to customary conditions. The terms of the transaction have not been disclosed, however, the Company does not view the financial impact as significant.

Mr. Cooper Group Inc. (NASDAQCOOP) announced today that Jay Bray, Chairman and Chief Executive Officer, Chris Marshall, Vice Chairman, President and Chief Financial Officer, and Jaime Gow, Deputy Chief Financial Officer, are scheduled to present at the Barclays Global Financial Services Conference on Tuesday, September 14, 2021 at 2:00 P.M. Eastern Time as part of a fireside chat.

Mr. Cooper Group Inc. (NASDAQCOOP) announced today two executive promotions as the company continues to drive enhancements to the team member and customer experiences.

Mr. Cooper Group Inc. (“Mr. Cooper”) announced today that it has entered into a definitive agreement to sell its Xome Valuations business to Voxtur Analytics Corp. (“Voxtur”). The sale is expected to close in the third quarter of 2021, subject to customary conditions. Consideration for the sale is not material.

Mr. Cooper Group Inc. (NASDAQCOOP) (the “Company”), which principally operates under the Mr. Cooper® and Xome® brands, reported second quarter net income of $439 million or $4.85 per diluted share. Net income included a $135 million mark-to-market charge, which excludes fair value amortization of $45 million. Excluding mark-to-market and other items, the Company reported pretax operating income of $227 million. Other items were $7 million in severance charges related to corporate actions, $485 million in gain on the sale of Title365, net of transaction costs, $16 million in discontinued operations related to the reverse portfolio, and $3 million of intangible amortization.

Mr. Cooper Group Inc. (NASDAQCOOP) announced today two additions to the executive leadership team as the company focuses on becoming the largest home loan company in the country, with a customer-centric culture and best-in-class digital tools.

Mr. Cooper Group Inc. (NASDAQCOOP) will discuss its financial results for the second quarter 2021 on Thursday, July 29, 2021 at 10:00 A.M. Eastern Time. A copy of the press release and investor presentation will be posted prior to the call under the investors section on Mr. Cooper Group’s website, www.mrcoopergroup.com. Pre-registration for the call is now open by visiting http://www.directeventreg.com/registration/event/6059502. Participants will receive a toll-free dial-in number and a unique registrant ID to be used for immediate call access. A simultaneous audio webcast of the conference call will be available under the investors section on www.mrcoopergroup.com.

Mr. Cooper Group Inc. (“Mr. Cooper” or “the Company”) announced today that it has entered into a definitive agreement for the sale of its Reverse servicing portfolio, operating under the Champion Mortgage brand, to Mortgage Assets Management, LLC and its affiliates (“MAM”). Upon the close of the transaction, which is subject to regulatory approvals and other closing conditions and is expected prior to year end, MAM and its affiliates will assume Champion’s reverse portfolio and related operations. The terms of the transaction have not been disclosed; however, the Company does not expect a significant impact on second quarter results.

Mr. Cooper Group Inc. (“Mr. Cooper”) announced today that it has completed the sale of Title365 to Blend Labs, Inc. on June 30, 2021, for $500 million, consisting of $450 million in cash and a retained interest of 9.9 percent. Consistent with previously disclosed expectations, Mr. Cooper received cash proceeds of approximately $450 million and recorded an after-tax gain of approximately $350 million.

Mr. Cooper today announced the promotion of Vice Chairman Chris Marshall to President, with operating responsibility for the originations and servicing segments and key business functions including technology and digital transformation. Chris will retain his existing responsibilities pending appointment of a new Chief Financial Officer. The company also disclosed that Chief Operating Officer Tony Ebers has resigned to pursue other opportunities.

Mr. Cooper Group Inc. (NASDAQCOOP) announced today the hiring of Leonard McLaughlin as its new Chief Diversity Officer. McLaughlin brings more than 15 years of experience leading diversity, equity and inclusion (DEI) strategies to foster inclusive and equitable environments for organizations.

Mr. Cooper Group Inc. (NASDAQCOOP) (the “Company”), which principally operates under the Mr. Cooper® and Xome® brands, reported a first quarter net income of $561 million or $5.92 per diluted share. Net income included $373 million in other mark-to-market, which excludes fair value amortization of $19 million. Excluding mark-to-market and other items, the Company reported pretax operating income of $363 million. Other items were $1 million in severance charges related to corporate actions, $3 million in transaction costs related to Title365 sale, and $4 million of intangible amortization.

On Saturday April 24, 2021, Mr. Cooper discovered that its electronic payments vendor, ACI Worldwide, inadvertently issued incorrect mortgage payment drafts while conducting a test of their system. We immediately reported this error to our customers’ banks and worked with them to prevent any financial impact to our customer accounts by providing credits and reversing the incorrect drafts and fees which might have been charged. This was not a security breach, and Mr. Cooper did not receive any funds from customer accounts. As a result of our immediate action, as of Tuesday, April 27, out of 480,000 customers who could have been impacted, we are aware of approximately 100 customers who may have incurred nonsufficient funds fees as a result of ACI’s error, and we are in the process of reimbursing them for these fees. We are not aware of any customers for whom the incorrect drafts were not reversed.

Mr. Cooper Group Inc. (NASDAQCOOP) and Google Cloud announced today a new partnership to create a customer-centric digital mortgage servicing platform powered by advanced automation technologies such as artificial intelligence (AI), machine learning (ML), data analytics and cloud scalability to make it easier to create, distribute, sign, submit and review loan documentation.

Mr. Cooper Group Inc. (NASDAQCOOP) will discuss its financial results for the first quarter 2021 on Thursday, April 29, 2021 at 10:00 A.M. Eastern Time. A copy of the press release and investor presentation will be posted prior to the call under the investors section on Mr. Cooper Group’s website, www.mrcoopergroup.com. The conference call may be accessed by dialing 855-874-2685 (toll-free), or 720-634-2923 (international), five minutes prior to the scheduled start of the call. Please use the participant passcode 5199996 to access the conference call. A simultaneous audio webcast of the conference call will be available under the investors section on www.mrcoopergroup.com.

Mr. Cooper Group Inc. (NASDAQCOOP) today announced that Kurt Johnson, who has been with the company for five years and most recently served as the company’s Chief Credit Officer, will now also lead risk and compliance for the organization as Executive Vice President and Chief Risk and Compliance Officer. With more than 20 years of experience in the mortgage industry, Johnson has led critical work for the company in setting risk related policy and governance. Most recently, he led the charge within the company and the industry on the mortgage relief options included in the CARES Act, working with government agencies to advocate for homeowners and ensure Mr. Cooper customers had solutions during the pandemic.