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The Dallas-based lender will assume close to $1.1 billion of conventional mortgage servicing rights, roughly $600 million in tangible equity and $500 million in outstanding Home Point 5% senior notes.
The company announced that it plans to be acquired.
Dallas-based Mr. Cooper Group has entered into an agreement to acquire struggling Home Point Capital for $324 million in cash.
Operator: Good day, and thank you for standing by, and welcome to Mr. Cooper Group Q1 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode.
Loan servicer spends "several hundred million dollars a year" on call center operations and expects $50 million in annual savings at outset of multiyear AI project.