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Jun 30, 2021
Mr Cooper Q2 2021 Earnings Report
Mr. Cooper Group reported a net income of $439 million and pretax operating income from continuing operations of $227 million for Q2 2021.
Key Takeaways
Mr. Cooper Group reported a strong second quarter with a net income of $439 million, driven by solid operating returns and strategic actions such as the sale of Title365 and Reverse portfolios. The company's balance sheet is strong with $1.2 billion in cash, and the capital ratio exceeded the target of 15%.
Reported total net income of $439 million and $4.85 per diluted share, equivalent to a ROCE of 56%.
Generated pretax operating income from continuing operations of $227 million, equivalent to ROTCE of 23.1%.
Servicing portfolio grew 4% quarter-over-quarter to $654 billion.
Completed sale of Title365 for $500 million.
Mr Cooper
Mr Cooper
Forward Guidance
The company's strategic actions, including the sale of Title365 and Reverse, rationalize and simplify the business model, strengthen the balance sheet, and prepare the company for faster growth.