Mr Cooper Group Inc (COOP) Options

Large Green, here is an old post of mine from 2019, associated with these other servicers.

ND9


Nightdaytrader 01/05/19 4:39 PM
Post #553864 on Mr Cooper Group Inc (COOP)
So I knew Softbank owned Fortress which owned New Residential and Nationstar. I didn't realize New Residential also owns Shellpoint Mortgage Servicing and New Penn Financial.

Softbank/Fortress sold WMIH Nationstar. I wonder if they are also going to sell New Residential/Shellpoint/New Penn Financial to WMIH. Interesting.

2. Approval and Oversight of Subservicers.
- Portfolio Servicing Inc
- Specialized Loan Servicing LL
- Bayview Loan Servicing LLC
- New Penn Financial LLC
- Shellpoint Mortgage Servicing
- Selene Financial LLP
- Nationstar

https://www.globic.com/wamurmbssettlement/pdfs/Ex%204.pdf



Select Portfolio Servicing is owned by Credit Suisse

Specialized Loan Servicing LLC - owned by Computershare Loan Services

Bayview Loan Servicing owned by Bayview Asset Mgmt

Selene Financial owned by Oaktree Capital and Ranieri Partners

It depends.....it is either ours or it is not which is it????

LOL 🤡

BINGO LARGE GREEN I just wish we had bought PHH and then OCWEN when they were cheaper OH WELL

Consolidation of the entire industry to CREATE a HUGE MEGA MULTINATIONAL FINANCIAL CONGLOMERATE
BIGGER than WAMU ever was and WITH NO DEBT , NO 42,000 employees ECT ECT ECT

Here you go from the 65B Calif, DB, JPM, FDIC cases

COOP Buying Former WaMu PLATFORMs

COOP Buying Former WaMu PLATFORMs**OCN Next**Look Who Owns LARGE STYLE Positions in COOP/OCN -Leon Cooperman-Read on



So of the five servicers that were mentioned in the 65 billion face value settlement with DB, Select Portfolio Servicing, Inc. has an office in Jacksonville, Florida. Could this be WMIHs NEXT target for a platform after closing NSM which happened on 7/31/2018 OR OCN who just completed its merger of PHH in Oct/2018…See Below



• Specialized Loan Servicing LLC - Founded in 2003 by a group of seasoned mortgage professionals, Specialized Loan Servicing LLC ("SLS") is a third-party servicer with a proven track record of setting the standard for customer care while optimizing portfolio performance on behalf of its clients.



• Select Portfolio Servicing, Inc. - Select Portfolio Servicing, Inc. (SPS) is a nationally recognized mortgage servicer specializing in the servicing of single-family residential mortgages. Founded in 1989, SPS is headquartered in Salt Lake City, Utah, with an office in Jacksonville, Florida.



• Nationstar Mortgage Holdings Inc. - Based in Dallas, Texas, Nationstar Mortgage Holdings Inc. (NYSE: NSM) provides quality servicing, origination and transaction-based services related principally to single-family residences throughout the United States. Nationstar is a recognized leader in the mortgage industry with more than two decades of experience, and its flagship brand, Mr. Cooper, is the largest non-bank mortgage servicer in the nation. Nationstar has been traded on the New York Stock Exchange (NYSE: NSM) since 2012.



• PHH Mortgage Corporation - Today, PHH Mortgage is recognized as an industry-leading provider of mortgage services, operating across the United States. PHH Mortgage is the 5th largest originator of retail residential mortgages4, the 7th largest originator overall5 and the 9th largest mortgage servicer. In 2015, we closed approximately $41 billion in mortgage financing and maintained an average servicing portfolio of approximately 1.1 million loans.



• Carrington Mortgage Servicers, LLC. Founded in 2007, Carrington Mortgage Services, LLC ("Carrington", "CMS") is a subsidiary of Carrington Holding Company, LLC ("CHC"), a privately managed investment management company. Headquartered in California, CMS operates three loan servicing locations that together provide integrated full life cycle mortgage loan servicing support to borrowers and investors



• ***OCN***Ocwen Financial - Founded in 1988, Ocwen Financial Corporation (Ocwen) is one of the largest mortgage companies in America. Ocwen originates both traditional and reverse mortgage loans and specializes in helping families achieve their financial and homeownership goals.



• https://www.housingwire.com/articles/47029-ocwen-completes-360-million-acquisition-of-phh-glen-messina-takes-over-as-ceors.



• https://www.housingwire.com/articles/47029-ocwen-completes-360-million-acquisition-of-phh-glen-messina-takes-over-as-ceo



• So, Leon Cooperman Huge Investor in OCN - The CEO of Omega Advisors owns more than 15.3 million shares, or over 11%, of Florida-based Ocwen Financial Corp. (NYSE:OCN). The guru investor purchased over 50,000 shares, based on the most recent update to his portfolio.



• So, Leon Cooperman Huge Investor in COOP - Mr. Cooper Group Inc. Cooperman purchased 12,719 shares of the company, giving it 0.55% portfolio weight. The stock’s third-quarter share price averaged $17. Mr. Cooper Group Inc. has a market cap of $1.32 billion; its shares were traded around $14.54 Thursday with a price-earnings ratio of 30.96.





https://www.forbes.com/sites/gurufocus/2018/11/29/leon-cooperman-buys-3-stocks-as-omega-closes-to-outside-investors/#40293cec365a

Couple of reasons I can think of:

1. Selling RKT might trigger tax implications by selling.
2. They would loose any LTC gains positions they have.

Frankly would be smarter to just pick up some COOP to add.

Oh it is ours. It depends if they release it us in the DTCC

because mortgage originations are about to fall off a cliff at the end of Q2 into Q3. I think Rocket's PPS isn't sustainable short term

Old Email - Relevant Concerning Servicing Platforms - COOP Buying Former WaMu PLATFORMs?



COOP Buying Former WaMu PLATFORMs**OCN Next**Look Who Owns LARGE STYLE Positions in COOP/OCN -Leon Cooperman-Read on

So of the five servicers that were mentioned in the 65 billion face value settlement with DB, Select Portfolio Servicing, Inc. has an office in Jacksonville, Florida. Could this be WMIHs NEXT target for a platform after closing NSM which happened on 7/31/2018 OR OCN who just completed its merger of PHH in Oct/2018…See Below

• Specialized Loan Servicing LLC - Founded in 2003 by a group of seasoned mortgage professionals, Specialized Loan Servicing LLC ("SLS") is a third-party servicer with a proven track record of setting the standard for customer care while optimizing portfolio performance on behalf of its clients.

• Select Portfolio Servicing, Inc. - Select Portfolio Servicing, Inc. (SPS) is a nationally recognized mortgage servicer specializing in the servicing of single-family residential mortgages. Founded in 1989, SPS is headquartered in Salt Lake City, Utah, with an office in Jacksonville, Florida.

• Nationstar Mortgage Holdings Inc. - Based in Dallas, Texas, Nationstar Mortgage Holdings Inc. (NYSE: NSM) provides quality servicing, origination and transaction-based services related principally to single-family residences throughout the United States. Nationstar is a recognized leader in the mortgage industry with more than two decades of experience, and its flagship brand, Mr. Cooper, is the largest non-bank mortgage servicer in the nation. Nationstar has been traded on the New York Stock Exchange (NYSE: NSM) since 2012.

• PHH Mortgage Corporation - Today, PHH Mortgage is recognized as an industry-leading provider of mortgage services, operating across the United States. PHH Mortgage is the 5th largest originator of retail residential mortgages4, the 7th largest originator overall5 and the 9th largest mortgage servicer. In 2015, we closed approximately $41 billion in mortgage financing and maintained an average servicing portfolio of approximately 1.1 million loans.

• Carrington Mortgage Servicers, LLC. Founded in 2007, Carrington Mortgage Services, LLC ("Carrington", "CMS") is a subsidiary of Carrington Holding Company, LLC ("CHC"), a privately managed investment management company. Headquartered in California, CMS operates three loan servicing locations that together provide integrated full life cycle mortgage loan servicing support to borrowers and investors

• ***OCN***Ocwen Financial - Founded in 1988, Ocwen Financial Corporation (Ocwen) is one of the largest mortgage companies in America. Ocwen originates both traditional and reverse mortgage loans and specializes in helping families achieve their financial and homeownership goals.

• https://www.housingwire.com/articles/47029-ocwen-completes-360-million-acquisition-of-phh-glen-messina-takes-over-as-ceors.

• https://www.housingwire.com/articles/47029-ocwen-completes-360-million-acquisition-of-phh-glen-messina-takes-over-as-ceo

• So, Leon Cooperman Huge Investor in OCN - The CEO of Omega Advisors owns more than 15.3 million shares, or over 11%, of Florida-based Ocwen Financial Corp. (NYSE:OCN). The guru investor purchased over 50,000 shares, based on the most recent update to his portfolio.

• So, Leon Cooperman Huge Investor in COOP - Mr. Cooper Group Inc. Cooperman purchased 12,719 shares of the company, giving it 0.55% portfolio weight. The stock’s third-quarter share price averaged $17. Mr. Cooper Group Inc. has a market cap of $1.32 billion; its shares were traded around $14.54 Thursday with a price-earnings ratio of 30.96.


https://www.forbes.com/sites/gurufocus/2018/11/29/leon-cooperman-buys-3-stocks-as-omega-closes-to-outside-investors/#40293cec365a

What do you think is the reason why not more institutional owners of RKT sell their RKT shares and "switch to COOP" instead, because at the moment they would get more RKT shares back for each COOP share than they currently have? Don't they want to drive the RKT PPS down? Do they wait until the closing date of the acquisition approaches? Do they hold their RKT shares and buy more COOP to average down their RKT PPS?

I still think it has a lot to do with the fact that neither of these two companies are "popular" stocks. Most people like to stay with the companies that everyone else is in.

If you go over to the RKT board, you'll see nobody posts there.

If you were to remove the posters on this board who are here only to rehash WMIH grievances, there would only be a few people left.

I think the two companies and the parties that control them are happy with it like that.

Good point

I don't think it's a stretch to believe that the controlling parties have known about this acquisition for many months and have been slowly accumulating COOP, knowing that they're going to score big when it finalizes.

I still think it has a lot to do with the fact that neither of these two companies are "popular" stocks. Most people like to stay with the companies that everyone else is in.

If you go over to the RKT board, you'll see nobody posts there.

If you were to remove the posters on this board who are here only to rehash WMIH grievances, there would only be a few people left.

I think the two companies and the parties that control them are happy with it like that.

RKT currently @ $12.70 means $141.70 for COOP (11 x $12.70 + $2 special dividend per COOP share)

So the question is, why do not more people (except me!) buy COOP now?

Yep.. most has zero to do with escrow return.. from derivative talk to link after link of non connective information.

JHD

Nope. A lot of the stuff that's posted as evidence that we're getting paid is not related to us or proves nothing. That was my point.

Nothing to do with escrows....

It has nothing to do with Escrows, it’s also almost 18 months old (RD forgot to add the source…)

https://www.federalregister.gov/documents/2023/11/29/2023-25813/special-assessment-pursuant-to-systemic-risk-determination#:~:text=The%20FDIC%20is%20adopting%20a,Bank%2C%20New%20York%2C%20NY.

👉LATEST $COOP PPS targets==>Barclays:$147, Compass Point:$146, UBS:$145, Piper Sandler:$143, KBW:$143, DEUTSCHE BANK:$137, JMP Securities:$115, Wedbush:$115

What makes it ours?

(In the sense that somehow it will be money we get.)

Go ahead and ask either Hozen or Dimon.....

Nothing is for sure but that special assesment is ours but the government has been stealing for ever. We might get ask Dimon or Rosen etc

Rocket Companies and Mr Cooper Group have signed a definitive agreement, not a MOU.

FUNG

ANd it is an MOU !!!!!!!!!!!!!!!!!! That is about as bad to me a a LOI

Agreed and to me this just aint right or sounds right

Professional Liability Settlement Agreements
https://www.fdic.gov/foia/professional-liability-settlement-agreements

I was responding to BBANBOB, who said, "nothing is for sure until it happens."

Are you saying this "fdic special assessment" is proof that something that hasn't happened is "for sure"?

This assessment is for the amounts above the $250K per account that the FDIC covers as they decided would cover for "uninsured" amounts at Silicon Valley Bank, Santa Clara, CA, and Signature Bank.

Isn't it nice that once again the FDIC decides to make up its own rules.

Take a well capitalized bank and seize it.... No problem! it is in the interest of the public in the FDIC's opinion.

Pay for all the Silicon Valley big wigs that shoved all their money into a single bank and also those at Signature that should have known better.... No Problem!

We can just let all the other banks that were not involved in this pick up the tab for the "Uber rich". And this is for open functioning banks that are not under the FDIC's never ending closure process. Another bailout because a government institution decides they want to make up their own rules and procedures.

Quote: "The FDIC estimates that 114 banking organizations will be subject to the special assessment, including 48 banking organizations with total assets over $50 billion and 66 banking organizations with total assets between $5 and $50 billion. No banking organizations with total assets under $5 billion will pay a special assessment, based on data for the December 31, 2022 reporting period."
WMI/WMB will not fall under this category as you will see once the full list of banks is provided..this unfortunate...

Search for the fdic special assessment

The FDIC is adopting a final rule to implement a special assessment to recover the loss to the Deposit Insurance Fund (DIF or Fund) arising from the protection of uninsured depositors following the closures of Silicon Valley Bank, Santa Clara, CA, and Signature Bank, New York, NY. The FDIC will collect the $16.3 billion special assessment at a quarterly rate of 3.36 basis points, multiplied by an insured depository institution’s (IDI) estimated uninsured deposits, reported for the quarter that ended December 31, 2022, adjusted to exclude the first $5 billion in estimated uninsured deposits from the IDI, or for IDIs that are part of a holding company with one or more subsidiary IDIs, at the banking organization level."

Here we Go Feel free to help

$16.3 Billion/13.4 basis points= Total assesment = 121,641,791,002 Billion

"2.18 Table 1 – Banking Organizations Required to Pay Special Assessment, Based on Data Reported for the December 31, 2022, Reporting Period1
"The special assessment will be collected at an annual rate of approximately 13.4 basis points for an anticipated total of eight quarterly assessment periods. Because the estimated loss pursuant to the systemic risk determination will be periodically adjusted, the FDIC retains the ability to cease collection early, impose an extended special assessment collection period after the initial eight-quarter collection period to collect the difference between losses and the amounts collected, and impose a one-time final shortfall special assessment after both receiverships terminate."
The FDIC estimates that 114 banking organizations will be subject to the special assessment, including 48 banking organizations with total assets over $50 billion and 66 banking organizations with total assets between $5 and $50 billion. No banking organizations with total assets under $5 billion will pay a special assessment, based on data for the December 31, 2022 reporting period.

Except escrow returns!!!

nothing is for sure until it happens

Do you own JPM stock....preferred's stocks 

FUNG

ANd it is an MOU !!!!!!!!!!!!!!!!!! That is about as bad to me a a LOI

Agreed and to me this just aint right or sounds right

These are not “new preferreds“ - they were issued last year already.

I don’t think it’s that strange. The acquired is often discounted and what I’ve seen in some of my dealings in the past the merger arbitrage spread has something to do with it. This term came from my finance guru..Things that cause this is risk that deal may not go through or terms of the deal may change….nothing is for sure until it happens. As deal gets closer the discount gap should get smaller.

JHD

Yep....make money on the way up and on the way down...

Lived there 9 months and visited many times while working at Seagate. Tinker 963 AMU.

Be careful. The same thing seemed like an easy play when WAG was supposed to be buying RITE for $9 while the stock price was around $6.
I lost money AND we lost in the class action suit as well.
A sure deal is not always as it appears.

Three weeks ago, COOP hit 137.60 (shorts got in) and then dropped to 103.15 (shorts got out).

That's a pretty good 33% swing for the shorts.

Likely more to come.

Plus, add the amount of institutional vs retail involved, and you realize there is no float I bet for them to play. But they're trying.

I wouldn't be surprised to find out a lot of the daily float movement is institutional trading among themselves. Understand everyone is dirty, and it makes sense.

And no, I'm NOT discounting the theory of dilution that may be coming, and is known among the big players.

I said yes we have 7 months left but, for it to NOT have appreciated say to 125-130 SO THEY CAN play a short on it and play the swings.........

SO FAR there aint been no swing ability here , and that IS MY POINT

Glad it makes sense to you

Yes, it makes sense to me.

The MM's can play the swings for the next 7 months, and make a lot of cash. Along with the assorted shorters, option players, etc.

Why is this a surprise?

Now this is very curious, COOPS short interests are up RKT's are down....

now RGT is 12.84 and COOP is 117.62 HMMMMMMMMMMMM

AT 11/1 COOP should be 141. or there about +-.
I know there are 7 months left but, DOESN'T THIS SEEM STRANGE TO YOU ????????????

ESPECIALLY WHEN IT APPEARS COOP is trading at a serious discount AND it's short interests are up by 600K share

THIS MAKE NO SENSE TO ME

Are we voting without our Knowledge???
" 
As many corporate counterparts abandon the less effective Chair/CEO model, JPMorgan must adapt. For this reason, we find the technicalities upon which JPMorgan asserts that this Proposal has not received majority support in years past irrelevant. That the likes of major asset managers such as BlackRock, Vanguard, State Street, Schwab, and other similar firms vote their customers’ shares in league with the Company is not a persuasive argument. Support for an independent chair is clearly rising, and we believe that this Proposal is as important as ever. Further, given the heightened scrutiny of Mr. Dimon’s leadership, the need for this Proposal is evident."

https://www.sec.gov/Archives/edgar/data/19617/000109690625000581/nlpc_px14a6g.htm

Thanks RD. Certainly an important bread crumb and as you say.. more importantly, will they pay?

JHD

Somebodies think it's not a good time to be shorting RKT. That's good news.

Could be what's been holding it back these past couple of weeks: they're bringing it down to cover as low as possible before it takes off.

LOL Cherokee 160/180

https://www.google.com/search?client=firefox-b-1-d&q=picture+of+cherokee+160

https://www.google.com/search?client=firefox-b-1-d&q=cherokee+180+pics

CESNA's can be a pain in the rear with okc having an AVG wind speed of 13 mph and many days it is 25-40 mph

Its that Choctaw draw

Wow, Thanks for sharing this and your DD and also to RD.
I really hope this is payments for our P's 're-instated by these 'new Preferrds' from JPMC!.... And they want to pay the 'Arrears', with distributions starting from June 1st, 2024! I Really hope this is for the 'P' Share holders of WaMu! TIA & GLTU!

ANd HMMMMMMMMMMMM COOP is over 670K PLUS over the previous month


04/15/2025
2,684,478
1,989,152
1.349559


03/31/2025
2,013,656
1,138,628
1.768493

Short Interest in Rocket Companies, Inc. (NYSE:RKT) Declines By 15.9%

https://www.marketbeat.com/instant-alerts/rocket-companies-inc-nyserkt-sees-significant-decrease-in-short-interest-2025-04-21/

👉LATEST $COOP PPS targets==>Barclays:$147, Compass Point:$146, UBS:$145, Piper Sandler:$143, KBW:$143, DEUTSCHE BANK:$137, JMP Securities:$115, Wedbush:$115