When rates skyrocketed, mortgage servicing reset the board. The next battle is about to begin [Yahoo! Finance]
Mr. Cooper Group Inc. (COOP)
Last mr. cooper group inc. earnings: 4/30 07:00 am
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Source: Yahoo! Finance
This period was a windfall for servicers. Rising rates typically slow down borrower prepayments, increase the fair value of mortgage servicing rights (MSRs), and enable companies to earn more interest on funds held in escrow accounts. The dynamic has led to a repositioning of players in the market. Many independent mortgage banks opted to sell a substantial portion of their MSRs, aiming to free up cash and stay afloat amidst declining origination activity, anticipating future regulatory capital requirements or simply lacking interest in maintaining these assets. Conversely, other companies seized the opportunity to expand their portfolios, securing the future right to get the inside track on refinancings when rates eventually drop . In the meantime, these companies could market other products, such as home equity loans, to borrowers in these portfolios. Now, with the Fed expected to lower interest rates at its upcoming September meeting, which could bring down mortgage rates ,
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News
- Mr. Cooper Group Inc. (NASDAQ: COOP) had its price target raised by analysts at Keefe, Bruyette & Woods from $105.00 to $115.00. They now have a "market perform" rating on the stock.MarketBeat
- Mr. Cooper Group Inc. (NASDAQ: COOP) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $115.00 price target on the stock.MarketBeat
- Mr. Cooper Group Inc. (NASDAQ: COOP) had its price target raised by analysts at Barclays PLC from $111.00 to $130.00. They now have an "overweight" rating on the stock.MarketBeat
- Mr. Cooper Group Reports Fourth Quarter 2024 ResultsBusiness Wire
- Mr. Cooper Group Inc. to Discuss Fourth Quarter 2024 Financial Results on February 12, 2025Business Wire