Mr Cooper

Jul 26, 2023

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Jun 30, 2023

Mr Cooper Q2 2023 Earnings Report

Mr. Cooper Group's financial performance in Q2 2023 reflected a strong net income, portfolio growth, and increased stock repurchase authorization.

Key Takeaways

Mr. Cooper Group reported a net income of $142 million for Q2 2023, which included a $61 million mark-to-market. Excluding mark-to-market and other items, the pretax operating income was $150 million. The company's servicing portfolio grew, and the board increased the stock repurchase authorization by $200 million.

Reported net income of $142 million, including a $61 million mark-to-market.

Book value per share and tangible book value per share increased to $61.02 and $58.81, respectively.

Servicing UPB grew 10% year-over-year to $882 billion.

Repurchased 1.2 million shares of common stock for $57 million, with a subsequent $200 million increase in repurchase authorization.