Flagstar Bank Closes On The Sale Of Its Mortgage Servicing/Sub-Servicing Business, Mortgage Servicing Rights, And The Third-Party Origination Platform To Mr. Cooper For ~$1.3B In Cash
Portfolio Pulse from Benzinga Newsdesk
Flagstar Bank has completed the sale of its mortgage servicing business and related assets to Mr. Cooper Group for $1.3 billion in cash. This transaction is expected to boost Flagstar's CET1 capital ratio by 60 basis points.
November 01, 2024 | 8:34 pm
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Mr. Cooper Group has acquired Flagstar Bank's mortgage servicing business for $1.3 billion, expanding its servicing portfolio.
The acquisition of Flagstar's mortgage servicing business for $1.3 billion allows Mr. Cooper to expand its servicing portfolio, which could be seen as a strategic growth move, potentially leading to a positive short-term impact on its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Flagstar Bank has sold its mortgage servicing business to Mr. Cooper for $1.3 billion, which will increase its CET1 capital ratio by 60 basis points.
The sale of the mortgage servicing business for $1.3 billion in cash is a significant transaction for Flagstar, improving its capital position. This is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90