Mr. Cooper

Mr. Cooper

Home loan origination and servicing provider

About Mr. Cooper

Simplify's Rating
Why Mr. Cooper is rated
C+
Rated B on Competitive Edge
Rated C on Growth Potential
Rated C on Rating Differentiation

Industries

Fintech

Financial Services

Company Size

1,001-5,000

Company Stage

IPO

Headquarters

Texas, South Carolina

Founded

1994

Overview

Company Does Not Provide H1B Sponsorship

Mr. Cooper provides home loan and mortgage servicing solutions for individuals and families looking to buy, sell, or refinance their homes. As the third largest home loan servicer in the United States, it offers various mortgage products, including conventional loans, FHA loans, and VA loans, catering to a wide range of clients. The company not only originates loans but also manages the ongoing administrative tasks, such as payment collection and customer service. Mr. Cooper stands out from competitors by prioritizing customer experience, aiming to make the home buying and refinancing process smooth and transparent. The company's goal is to support clients in achieving their homeownership dreams while ensuring a positive experience throughout the loan process.

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Simplify's Take

What believers are saying

  • Increased demand for digital mortgage solutions aligns with Mr. Cooper's customer-centric approach.
  • The rise of blockchain technology could enhance transparency and reduce fraud in mortgage servicing.
  • The secondary mortgage market's activity could boost Mr. Cooper's revenue from selling loans.

What critics are saying

  • Rising interest rates may reduce demand for Mr. Cooper's mortgage products.
  • The recent cybersecurity breach could lead to significant legal costs and reputational damage.
  • Issuing $1 billion in debt at 7.125% interest could increase financial pressure.

What makes Mr. Cooper unique

  • Mr. Cooper focuses on customer experience, enhancing transparency in home loan processes.
  • The company offers a wide range of mortgage products, including FHA and VA loans.
  • Mr. Cooper is the third largest home loan servicer in the United States.

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Funding

Total Funding

$1750M

Above

Industry Average

Funded Over

1 Rounds

Post IPO Debt funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Debt Funding Comparison
Coming Soon

Benefits

Remote Work Options

Company News

Mr. Cooper Group
Jul 31st, 2024
Mr. Cooper Group Inc. Announces Pricing of Offering of $750 Million of Senior Notes

Mr. Cooper Group Inc. (NASDAQ: COOP) (“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. The offering is expected to close on or around August 1, 2024, subject to customary closing conditions. It is expected that the net proceeds of the offering will be used to repay a portion of the amounts outstanding under Mr. Cooper’s MSR facilities. The Notes will be guaranteed on a joint and several basis by Mr. Cooper and wholly-owned domestic subsidiaries of Nationstar (other than certain excluded subsidiaries). The offering of the Notes was made in reliance upon an exemption from the registration requirements of the Securities Act

Business Wire
Jul 30th, 2024
Mr. Cooper Group Inc. Announces Pricing of Offering of $750 Million of Senior Notes

Mr. Cooper Group Inc. (NASDAQ: COOP) (“Mr. Cooper”) announced the pricing of an offering by Nationstar Mortgage Holdings Inc., a direct wholly-owned s

Investopedia
Jul 25th, 2024
NYCB Faces a Tough Road to Profitability

NYCB also said Thursday that its Flagstar Bank unit agreed to sell its residential mortgage servicing business to Mr. Cooper Group (COOP) for $1.4 billion.5

HousingWire
Jan 30th, 2024
Mr. Cooper subsidiary to issue $1B in debt - HousingWire

Nationstar Mortgage Holdings will issue senior notes due in 2032 at 7.125% per year.

Business Wire
Jan 30th, 2024
Mr. Cooper Group Inc. Announces Pricing of Offering of $1 Billion of Senior Notes

Mr. Cooper Group Inc. (NASDAQ: COOP) (“Mr. Cooper”) announced the pricing of an offering by Nationstar Mortgage Holdings Inc., a direct wholly-owned s

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