Full-Time
Mr. Cooper
1,001-5,000 employees
Home loan origination and servicing provider
No salary listed
Entry
Company Does Not Provide H1B Sponsorship
Bengaluru, Karnataka, India
- Understanding of federal, state, and company regulations regarding mortgage lending
- Knowledge of fair lending practices, anti-money laundering regulations, and consumer protection laws
- Experience in conducting quality checks and identifying discrepancies
- Ability to analyze, interpret, and understand state and regulatory requirements
- Experience in providing training on compliance requirements, policies, and procedures
- Partner with Lines of Business/Change of Law to assess and facilitate testing changes related to new and updated Federal law, State law, and Agency/Investor regulations
- Ensure that all processes follow federal, state, and company regulations regarding mortgage lending
- Conduct quality checks to ensure accuracy and completeness, identifying any discrepancies or issues that need to be addressed
- Participate in training sessions to stay updated on regulatory changes, company policies, and best practices in mortgage lending
- Analyze, interpret, and understand state and regulatory requirements in collaboration with the Business, Legal, Risk, and Compliance teams
- Identify potential risks associated with loan applications and escalate issues to senior staff or management as needed
- Monitor the accuracy of all test scores monthly
- Provide training to Junior Associates on compliance requirements, policies, and procedures
- Perform root cause analysis, corrective actions, and monitoring to prevent recurrence.
Mr. Cooper provides home loan services in the United States, serving a variety of clients including first-time homebuyers and veterans. The company offers different types of loans such as conventional loans, FHA loans, and VA loans. Mr. Cooper not only originates these loans but also manages the ongoing payments and customer service throughout the life of the loan. This means they earn money from both the initial loan fees and the ongoing servicing fees. What sets Mr. Cooper apart is their focus on personalized support and educational resources, helping clients understand the home financing process. Their goal is to make homeownership more accessible and manageable for everyone.
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Texas
Founded
1994
Simplify's Take
What believers are saying
- Acquisition of Home Point Capital expands Mr. Cooper's market presence and capabilities.
- Hiring 2,000 new team members supports growing demand and enhances service capacity.
- Increased demand for digital mortgage solutions aligns with Mr. Cooper's innovation goals.
What critics are saying
- Rising interest rates may reduce demand for new mortgages and refinancing.
- Integration challenges from acquiring Home Point Capital could disrupt service quality.
- Increased competition from fintech companies may erode Mr. Cooper's market share.
What makes Mr. Cooper unique
- Mr. Cooper offers a wide range of loan products including FHA and VA loans.
- The company provides personalized support and educational resources for home financing.
- Mr. Cooper manages both loan origination and servicing, ensuring consistent customer experience.
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Benefits
Remote Work Options
Company News
Rocket Companies is acquiring Mr. Cooper, the largest mortgage servicer in the U.S., for $9.4 billion. This deal will expand Rocket's servicing portfolio to $2.1 trillion, covering nearly 10 million customers, or about one in six U.S. mortgages. Additionally, Rocket is acquiring Redfin for $1.75 billion. CEO Varun Krishna aims to leverage data and AI to enhance customer relationships and solidify Rocket's position in the homeownership market.
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
Mr. Cooper Group Inc. (NASDAQ: COOP) (“Mr. Cooper”) announced the pricing of an offering by Nationstar Mortgage Holdings Inc., a direct wholly-owned s
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
Nationstar Mortgage Holdings will issue senior notes due in 2032 at 7.125% per year.