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Mar 31, 2022
Mr Cooper Q1 2022 Earnings Report
Mr. Cooper Group's first quarter net income significantly increased, driven by growth in servicing portfolio and gain from Sagent transaction.
Key Takeaways
Mr. Cooper Group reported a strong first quarter with a net income of $658 million, which includes a $552 million MSR mark. The company's servicing UPB grew to $796 billion, and it closed the Sagent transaction, resulting in a pretax gain of $223 million.
Reported net income of $658 million, including a $552 million MSR mark.
Servicing UPB grew to $796 billion, up 27% year-over-year.
Closed Sagent transaction, resulting in a pretax gain of $223 million.
Repurchased 0.7 million common shares for $35 million.
Forward Guidance
While the sharp rise in interest rates will place pressure on the originations industry, the company is in a much better position than most, as it stand to benefit from significant improvements in servicing profitability during 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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