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Mar 31, 2023
Mr Cooper Q1 2023 Earnings Report
Mr. Cooper Group's financial performance was marked by a net income of $37 million, driven by strong operating results and a balanced business model.
Key Takeaways
Mr. Cooper Group reported a net income of $37 million for Q1 2023, which included a $63 million mark-to-market adjustment. Excluding this adjustment and other items, the company's pretax operating income was $110 million. The servicing portfolio ended the quarter at $853 billion in UPB. Originations earned pretax income and pretax operating income of $23 million.
Net income was reported at $37 million, including a $63 million mark-to-market.
Servicing UPB grew 7% year-over-year, reaching $853 billion.
The company repurchased 2.1 million shares of common stock for $89 million.
Originations outperformed with strong DTC execution.
Forward Guidance
The company is positioned to navigate a volatile environment and deploy capital into accretive growth opportunities due to its robust capital, record levels of liquidity, strong asset quality, and significantly enhanced hedge on MSR portfolio.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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