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Mar 31, 2024
Mr Cooper Q1 2024 Earnings Report
Mr. Cooper Group reported a net income of $181 million for Q1 2024, driven by growth in the servicing portfolio and strategic technology investments.
Key Takeaways
Mr. Cooper Group reported a strong start to 2024 with a net income of $181 million, representing a 16.7% ROCE and a 14.5% operating ROTCE. The company's servicing portfolio grew significantly, and strategic investments in technology contributed to the positive results.
Net income was reported at $181 million, including other mark-to-market adjustments of $42 million.
The servicing portfolio grew 33% year-over-year, reaching $1,136 billion.
The company repurchased 0.5 million shares of common stock for $39 million.
Return on tangible common equity rose to 14.5%.
Mr Cooper
Mr Cooper
Forward Guidance
No specific forward guidance was provided in the press release.