Mr. Cooper sees a $1.5T MSR opportunity in 2023
Mr. Cooper reviewed nearly 300 MSR deals the company was offered over the last two years, CEO Jay Bray said. They ended up winning 23% of what they bid on.
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Mr. Cooper reviewed nearly 300 MSR deals the company was offered over the last two years, CEO Jay Bray said. They ended up winning 23% of what they bid on.
Executives at the company said building special-servicing capacity will help the company brace itself for a potential change in the credit cycle.
COOP earnings call for the period ending December 31, 2022.
Mr. Cooper, which had 8,200 employees at the end of last year, laid off 250 workers during the first quarter and announced another 420 layoffs in June.
While growing loan servicing business remains profitable, according to Q3 earnings, paper gains on servicing rights could evaporate.