“This acquisition is consistent with our strategy of growing our customer base, deploying our capital with a focus on attractive risk-adjusted returns, and maintaining a very strong balance sheet,” said Jay Bray, chairman and CEO of Mr. Cooper. “Home Point has amassed an impressive servicing portfolio, consisting of conventional loans to borrowers with high FICO scores, low coupons, and strong equity cushions. We look forward to welcoming these customers to Mr. Cooper and providing them with a high-quality, personalized, and friction-free experience.”
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Mr. Cooper chief financial officer Kurt Johnson added: “Thanks to our strong operations and technology, we have the capacity to onboard this portfolio, with a focus on ensuring a positive customer experience. The senior notes we’re assuming from Home Point serve as a low-cost source of funding and contribute to an attractive rate of return on this transaction.”
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