Flagstar Financial's Unit Closes Sale of Mortgage Servicing Business [Yahoo! Finance]
Flagstar Financial, Inc. (FLG)
Company Research
Source: Yahoo! Finance
servicing, mortgage servicing rights and the third-party origination platform to Mr. Cooper Group Inc. COOP for $1.3 billion in cash. The transaction is projected to increase the company's CET1 capital ratio by nearly 60 basis points on a pro-forma basis as of Sept. 30, 2024. In October 2024, New York Community Bancorp, Inc., the holding company of Flagstar Bank, announced that its board of directors approved changing the company's name to Flagstar Financial, Inc. Chairman, president and chief executive officer Joseph M. Otting said, "We are very pleased to announce the successful sale of our mortgage serving business and third-party origination platform to Mr. Cooper. The completion of this sale reflects another significant milestone toward our strategy to simplify our business model and transform Flagstar into a regional bank focused on the core business of Retail Banking, Commercial and Private Banking, and Commercial Real Estate lending. The Bank will continue to provide res
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News
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- Flagstar Financial, Inc. (NYSE: FLG) had its price target raised by analysts at Compass Point from $11.50 to $12.00. They now have a "neutral" rating on the stock.MarketBeat