Mr Cooper

Jul 30, 2020

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Jun 30, 2020

Mr Cooper Q2 2020 Earnings Report

Mr. Cooper Group reported a net income of $73 million, driven by record margins in the Direct-to-Consumer channel and strong origination profits, which offset servicing margin pressure and earned back the MSR mark.

Key Takeaways

Mr. Cooper Group reported a net income of $73 million, or $0.77 per diluted share, for the second quarter. Excluding mark-to-market adjustments and other items, the company generated a pretax operating income of $350 million. The Originations segment achieved record pretax income, while the Servicing segment experienced a loss due to mark-to-market adjustments.

Net income was reported at $73 million, or $0.77 per diluted share.

Pretax operating income was $350 million, equivalent to a ROTCE of 55.0%, offset by a mark-to-market loss of $261 million.

Unrestricted cash increased quarter-over-quarter from $579 million to $1.0 billion.

The origination segment generated record pretax income of $433 million and pretax operating income of $434 million on funded volume of $10.7 billion.

Previous year: -$0.63

-222.2%