Financial Data and Key Metrics Changes - The company reported pre-tax operating income of $246 million and operating ROTCE of 16.8%, at the upper end of guidance [4] - Tangible book value increased by 11% year-over-year to $69.93 per share [4] - The capital ratio stood at 27.9% with liquidity at a record high of $4.1 billion [4][25] Business Line Data and Key Metrics Changes - The servicing portfolio grew to $1.2 trillion, serving 5.4 million customers, generating $305 million in pre-tax servicing income, a 38% year-over-year increase [5][13] - The Originations segment generated $69 million in pre-tax income, significantly exceeding guidance, attributed to a drop in mortgage rates and investments in direct-to-consumer and correspondent platforms [5][17] Market Data and Key Metrics Changes - CPRs rose sequentially from 5.5% to 6.2%, leading to higher amortization in the quarter [13] - The company anticipates continued growth in the correspondent channel, with volumes more than doubling from the second quarter [19] Company Strategy and Development Direction - The company aims to enhance customer experience through investments in AI and digital platforms, including the Agent IQ coaching platform [9][15] - The acquisition of Flagstar is expected to close in the fourth quarter, increasing the customer base to over 6 million [6][7] - The company is focused on maintaining a balanced business model to leverage opportunities in both servicing and originations [29][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate changing interest rates and market conditions, emphasizing a strong operational leverage [13][27] - The outlook for 2025 ROTCE is anticipated to be at the midpoint of the 14% to 18% guidance range, driven by growth in originations and efficiencies in servicing [27][61] Other Important Information - The company has been recognized as a Great Place to Work for six consecutive years, reflecting its commitment to employee culture [6] - The company is actively managing its credit quality, with MSR delinquencies slightly up to 1.1%, but still performing strongly compared to industry standards [24] Q&A Session Summary Question: Guidance for originations in the fourth quarter - The company provided a guidance range of $45 million to $65 million for pre-tax originations income, influenced by recent mortgage rate fluctuations [28][29] Question: Performance in DTC channel versus expectations - The DTC channel performed in line with expectations, with significant shifts towards rate-term refinances due to lower rates [30][31] Question: Pipeline for bulk servicing acquisitions - The company is optimistic about future bulk servicing opportunities, with significant capacity for acquisitions post-Flagstar [33][34] Question: Corporate expense normalization - Corporate expenses are expected to normalize around $40 million in the fourth quarter, following some one-time costs in the current quarter [53] Question: Ginnie Mae capital rules impact - The company is well-capitalized relative to Ginnie Mae's standards and anticipates that the implementation of these rules could catalyze bulk servicing trades [56]

Mr Cooper (COOP) came out with quarterly earnings of $2.84 per share, beating the Zacks Consensus Estimate of $2.54 per share. This compares to earnings of $2.79 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.81%. A quarter ago, it was expected that this reinsurance company would post earnings of $2.33 per share when it actually produced earnings of $2.52, delivering a surprise of 8.15%.Over the last four quarters, the com ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________________________________________________________________________________ FORM 10-Q ________________________________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANG ...

Exhibit 99.1 1 oper Gro FOR IMMEDIATE RELEASE MR. COOPER GROUP REPORTS THIRD QUARTER 2024 RESULTS • Reported net income of $80 million including other mark-to-market of ($126) million, equivalent to ROCE of 6.9% and operating ROTCE of 16.8% • Book value per share and tangible book value per share increased to $72.49 and $69.93 • Servicing portfolio grew 32% y/y to $1,239 billion • Repurchased 0.5 million shares of common stock for $46 million • Issued $750 million senior notes priced at 6.5% • Certified as ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Even though momentum is a popular stock cha ...

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, October 9th: Silvercorp Metals (SVM) This company which is engaged in the acquisition, exploration, development, and mining of precious and base metal mineral properties in the Peoples Republic of China, has a Zacks Rank #1(Strong Buy), and witnessed the Zacks Consensus Estimate for its current year earnings increasing 32.0% over the last 60 days. Silvercorp Metals' shares gained 31.9% over the last thre ...

Here are three stocks with buy rank and strong value characteristics for investors to consider today, September 12: Mr. Cooper Group Inc. (COOP) : This mortgage servicing company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.2% over the last 60 days. Mr. Cooper Group has a price-to-earnings ratio (P/E) of 8.82 compared with 11.80 for the industry. The company possesses a Value Score of B. MPLX LP (MPLX) : This midstream energy company carr ...

Mr Cooper (COOP) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. The power of a c ...

Group 1 - The stock of Mr. Cooper Group Inc. (COOP) is experiencing significant attention due to high implied volatility in the options market, particularly the Sep 20, 2024 $40 Put option [1] - Implied volatility indicates the market's expectation of future price movement, suggesting that investors anticipate a significant change in the stock's price, potentially due to an upcoming event [2] - Mr. Cooper Group holds a Zacks Rank 1 (Strong Buy) in the Financial - Consumer Loans industry, which is in the top 18% of the Zacks Industry Rank, indicating strong analyst sentiment [3] Group 2 - Over the past 30 days, three analysts have raised their earnings estimates for Mr. Cooper Group for the current quarter, increasing the Zacks Consensus Estimate from $2.40 to $2.48 per share [3] - The high implied volatility may indicate a developing trading opportunity, as options traders often seek to sell premium on options with elevated implied volatility, aiming to benefit from time decay [4]

Core Insights - Mr. Cooper Group Inc. (COOP) reported strong second-quarter 2024 results, with adjusted earnings per share (EPS) of $2.52, surpassing estimates by 8.2% and showing a year-over-year increase of 51.8% [4] - The company's stock has increased by 30.8% year-to-date, outperforming the industry and S&P 500 Index [1] Financial Performance - Total revenues for Q2 2024 reached $583 million, a 3.4% increase year-over-year, exceeding consensus estimates by 4.7% [4] - Net income for the quarter was $204 million, up from $142 million a year ago [5] - Total expenses rose by 7.9% year-over-year to $300 million, driven by higher salaries and general administrative costs [5] Segment Analysis - The Servicing segment reported a pretax operating income of $354 million, a 45.7% increase year-over-year, with total revenues of $456 million, surpassing last year's $368 million [6] - The Originations segment's pretax operating income remained flat at $38 million, with total revenues increasing to $107 million from $97 million a year ago [7] Acquisition and Growth Strategy - The company announced the acquisition of Flagstar's mortgage operations, valued at $1.4 billion, which includes mortgage servicing rights (MSRs) and subservicing contracts totaling nearly $356 billion in unpaid principal balance (UPB) [3] - The servicing portfolio has reached $1.2 trillion, reflecting significant growth [2][6] Financial Position - As of June 30, 2024, total assets were $15.8 billion, up from $14.2 billion at the end of 2023 [8] - Cash and cash equivalents increased to $642 million from $571 million at the end of 2023 [8] - Total liabilities rose to $11.2 billion from $9.9 billion at the end of 2023, while total shareholders' equity increased to $4.6 billion from $4.3 billion [8] Capital Management - The company repurchased 0.3 million shares for $24 million during the quarter, with approximately $270 million remaining in its repurchase program [10]