Mr. Cooper Group (COOP) Reports Q1 Loss of $1.84/sh
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Mr. Cooper Group Reports First Quarter 2020 Financial Results
April 30, 2020 7:00 AM EDTReported $171 million net loss or $1.84 per diluted share, reflecting a negative $383 million mark-to-market Moved more than 95% of teammates to work-from-home status in 5 days Increased unrestricted cash quarter-over-quarter from $329 million to $579 million Generated strong pretax operating income of $127 million, equivalent to a 19.6% after-tax ROTCE Originations segment generated pretax income of $158 million on funded volume of $12.4 billion Servicing margin compressed to 3.9 bps Xome reported pretax income of $11 million and pretax operating income of $13 million, with third-party revenue rising quarter-over-quarter from 51% to 55%
DALLAS--(BUSINESS WIRE)-- Mr. Cooper Group Inc.... More
