Mr Cooper Q1 2023 Earnings Report
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.
Mr Cooper
Mr Cooper
Mr Cooper Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income