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Mr Cooper Group Inc

Mr Cooper Group Inc (COOP)

94.54
2.00
(2.16%)
Closed July 28 4:00PM
94.54
0.00
(0.00%)
After Hours: 7:50PM

Calls

StrikeBid PriceAsk PriceLast PriceMidpointChangeChange %VolumeOPEN INTLast Trade
70.0022.6026.900.0024.750.000.00 %00-
72.5020.1024.400.0022.250.000.00 %00-
75.0017.8022.000.0019.900.000.00 %00-
77.5015.3019.509.4017.400.000.00 %01-
80.0012.7016.908.5414.800.000.00 %09-
82.5010.5013.1012.5511.800.000.00 %029-
85.008.4011.008.049.700.000.00 %012-
87.507.509.608.008.550.000.00 %012-
90.005.505.906.495.702.4259.46 %3807/26/2024
92.503.604.104.043.851.2444.29 %347/26/2024
95.002.152.602.912.3751.4194.00 %31827/26/2024
100.000.650.900.800.7750.2750.94 %2147/26/2024
105.000.150.400.000.2750.000.00 %00-
110.000.002.150.000.000.000.00 %00-
115.000.001.950.000.000.000.00 %00-
120.000.001.950.000.000.000.00 %00-

Real-time discussions and trading ideas: Trade with confidence with our powerful platform.

Puts

StrikeBid PriceAsk PriceLast PriceMidpointChangeChange %VolumeOPEN INTLast Trade
70.000.001.850.000.000.000.00 %00-
72.500.002.200.000.000.000.00 %00-
75.000.101.000.100.550.000.00 %03-
77.500.602.200.601.400.000.00 %01-
80.000.252.250.251.250.000.00 %0520-
82.500.052.300.321.1750.000.00 %025-
85.000.200.300.220.25-0.07-24.14 %1127/26/2024
87.500.350.500.970.4250.000.00 %035-
90.000.250.900.750.575-0.92-55.09 %5387/26/2024
92.501.351.601.901.4750.000.00 %08-
95.002.402.652.402.525-0.55-18.64 %1077/26/2024
100.005.607.905.306.75-1.64-23.63 %417/26/2024
105.008.4012.300.0010.350.000.00 %00-
110.0013.2017.500.0015.350.000.00 %00-
115.0018.2022.400.0020.300.000.00 %00-
120.0023.2027.400.0025.300.000.00 %00-

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COOP Discussion

View Posts
Ray_137 Ray_137 2 hours ago
FINITU.
👍️0
Maniek Maniek 4 hours ago
Today is July 27th 2024….
Nothing yet…?
👍️0
lodas lodas 5 hours ago
boris?.....grabbing at straws now?..... what happened to the billions coming from LIBOR.....?....Lodas
💩 2 🤡 1
Boris the Spider Boris the Spider 5 hours ago
I opened a checking acct 15 yrs ago with Fidelity in case my escrows paid out so I could have checks ready to go. I never used the account. Then suddenly today I received debit cards from Fidelity in the mail. Very odd. Why after all this time, with an inactive account, did I suddenly receive debits cards for that account?
Things that make you go HMMMMMMM. Do they know something we don't?
😴 1 🤡 2
PickStocks PickStocks 7 hours ago
You’re so smart…
👍️0
jhdf51 jhdf51 8 hours ago
Thank you .

JHD
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dragoon76 dragoon76 10 hours ago
Just consider the source, and you'll have all the answers you need.
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Royal Dude Royal Dude 10 hours ago
6.875% Non-Cumulative Preferred Stock, Series NN

$150.87

$15.0870

Our P's and U's combined preferred Bond IMO

The dividend payment date is Saturday, June 1, 2024, to stockholders of record at the close of business on Thursday, May 2, 2024, and dividend will be paid on Monday, June 3, 2024.
👍️0
novascotiaSTS novascotiaSTS 10 hours ago
This event already happened and as predicted had nothing to do with Escrows and nothing to do with COOP.

But why bother with reality, right?
👍️0
StillHoping StillHoping 10 hours ago
Agree with you 100%. Opportunity to make money has been there and is still there. In January 2024 one could have bought COOP at $60-$65 and sold it this week for $95.
👍️ 1
goodietime goodietime 11 hours ago
Don't the Bonds on the FDIC Receivership Balance Sheet need to be paid off first?
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Royal Dude Royal Dude 11 hours ago
Six banks agree to settle EU bond price rigging charges

https://seekingalpha.com/news/4129253-six-banks-settle-eu-bond-price-rigging-charges
👍️0
Ray_137 Ray_137 12 hours ago
With millions we get nothing. 10 Billion is needed to get FV of Ps.
👍️0
Bill48 Bill48 12 hours ago
??????? Hmmm 🧐 millions is pocket change for Jpm ! I hope there is some significants for us in this action! Thanks for posting
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Large Green Large Green 12 hours ago
NEW LIBOR SETTLEMENT WITH SIX BANKS

https://www.reuters.com/legal/six-banks-settle-european-bond-price-fixing-litigation-new-york-2024-07-26/#:~:text=NEW%20YORK%2C%20July%2026%20(Reuters,prices%20of%20European%20government%20bonds.

Friday's settlements would upon approval end the litigation, with $120 million of settlements. JPMorgan Chase (JPM.N), opens new tab, Natixis, State Street (STT.N), opens new tab and UniCredit (CRDI.MI), opens new tab previously settled for a combined $40 million.

The case is part of more than a decade of litigation in the Manhattan court accusing banks of colluding in various markets including U.S. Treasuries, currencies and commodities, as well as on interest rate benchmarks.
The case is In re European Government Bonds Antitrust Litigation, U.S. District Court, Southern District of New York, No. 19-02601.

...
👍️0
MadBadger MadBadger 13 hours ago
Thank you Large, I appreciate it.
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dragoon76 dragoon76 13 hours ago
You have a serious problem and you just can't help yourself.
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Royal Dude Royal Dude 13 hours ago
Think this is showing us part of the Way on or before October 22 IMO
"Kurt Johnson
So I think the question is over the next couple of quarters, do we anticipate any growth in servicing and subservicing. As Jay just pointed out, we replenish based on kind of our originations volumes and so we would anticipate continued replenishments and slight growth there. I think obviously this acquisition which will close in the fourth quarter is bringing on close to $360 billion, almost $80 billion of owned MSR and roughly $280 billion of subservicing. So that's going to be the material component of our growth over the next couple of quarters. But as the opportunities present themselves, we will be opportunistic, but we're never going to kind of chase volume. Everything that we do is geared towards the return to our shareholders and our other investors.

https://seekingalpha.com/article/4706903-mr-cooper-group-inc-coop-q2-2024-earnings-call-transcript

Kurt Johnson
Hey Shanna it's Kurt. Yes. Thanks. Yes absolutely, we had conversations with the rating agencies around the transaction, around the quarter as well. I think by and large we received positive feedback. Obviously, I can't comment on how they're going to come out, but we received pretty positive commentary around this. As Jay said earlier, our first and foremost priority at this point in time is to take care of these customers. We have $360 billion of loan boarding will not be simple and we're going to really, really focus on that. And I think that that will allow us to build capital through the remainder of the year, but will still allow us to be opportunistic.

https://seekingalpha.com/article/4706903-mr-cooper-group-inc-coop-q2-2024-earnings-call-transcript
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newflow newflow 14 hours ago
You don't need Escrows to receive from LT.
ITEM 4 . Important Tax Information Required – Potential Withholding. Distributions to holders of Common
Equity Interests by the Debtors or the Liquidating Trustee, and any subsequent amounts received by the Liquidating
Trust allocable to a holder, are subject to any applicable tax withholding
Under U.S. federal income tax law, interest and other reportable payments may, under certain
circumstances, be subject to “backup withholding” at the then applicable backup withholding rate (currently 28%).
Backup withholding generally applies if the holder (a) fails to furnish its social security number or other taxpayer
identification number (“TIN”), (b) furnishes an incorrect TIN, (c) fails properly to report interest or dividends, or (d)
under certain circumstances, fails to provide a certified statement, signed under penalty of perjury, that the TIN
provided is its correct number and that it is a United States person that is not subject to backup withholding. Backup
withholding is not an additional tax but merely an advance payment, which may be refunded to the extent it results
in an overpayment of tax and the appropriate information is supplied to the IRS. Certain persons are exempt from
backup withholding, including, in certain circumstances, corporations and financial institutions.
To avoid unnecessary withholding, each U.S. holder is required to properly complete and return the
Substitute Form W-9 included at the end of this Ballot, certifying that such holder is a U.S. person, that the TIN
provided is correct, and that such holder is not subject to backup withholding, as per its instructions.
👍️ 1
Royal Dude Royal Dude 15 hours ago
Corrected. F&R
"IMO distribution By October 22 or earlier

1. Cash as little as possible Series A's (Junk Bonds with no more than interest) No more than 130 Bil

2. Shares of COOP (>.058 x Legacy U,s) 60 Bil

3. Bonds of JPM (P's) 10 Bil

4. Alerian ETN JMJB= 1 Bil

5. Preferred Shares JPM EE/NN for both P's K's and U,s combined from ( combined in one class of shares, using 19: 1 combining old preferred old to new
(Q,U,R,S) 10 Bil

FDIC cash and Series A non interest Bonds JPM 399 B

Fair and Reasonable Total $610 Bil
Boris the Spiders of Oklahoma
Re: Large Green post# 728396
Wednesday, May 22, 2024 10:28:31 PM
Post# of 728435 Go
Yes thats correct. The 30b from jpm is just their portion of the Libor settlement.
This has nothing to do with Wamu assets or payment for the bank.
Its just their part of the Libor rigging.
Confusing yes.
But. This 30b has been designated for Libor. Dimon knows they have to pay it. Escrows will get their share of the total of 100b 200b or more.
COOP IS OUR OTHER BUCKET SERIES A
Pg 49
The Indenture does not limit the aggregate principal amount of debt securities that may be issued under it and provides that debt securities may be issued up to the principal amount authorized by us from time to time. We have previously established the Series A medium-term notes under the Indenture. As of December 31, 2023, we had approximately $32 billion aggregate principal amount of Series A medium-term notes outstanding under the Indenture. Our board of managers has authorized the issuance of New Notes under the registration statement to which this prospectus relates in such amounts as may be required to permit all outstanding Old Notes not held by JPMorgan Financial or its affiliates to be exchanged for New Notes. Our board of managers has also authorized the issuance of securities, including Series A medium-term notes, under certain shelf registration statements with an aggregate initial public offering price not to exceed $130 billion, to be issued on or after February 17, 2023."
https://www.sec.gov/.../00009501032.../dp206454_424b3.htm...
👍️0
BBANBOB BBANBOB 15 hours ago
LG

Just as several of us believe that WMI has been facilitating WMIH to buy NSM and become COOP and now facilitating COOP to buy FLAGSTAR
🤡 1 🦄 1
MadBadger MadBadger 15 hours ago
Night, Thank you for the information didn’t more color to this transaction.
My belief is Doreen is key and one of the Masterminds behind this Plan. It’s Perfectly Thought Out, Planned and Executed. That is the Actions of a Boss Woman in Charge.
Forget a date with Buffet for stock tips I already know. I’d rather go on a date with Doreen. horseback backpacking in the mountains of Utah. Laughing, Carrying On and being silly under the Stars, nestled with accounting books. I’m a True Romantic. Lol
👍️0
Large Green Large Green 15 hours ago
MAD, I believe this is an excellent synopsis. A few of us have always believed WMI is still alive and will play a major role in our eventual returns.

_____________________________________________
MADBADGER'S RECENT POST

March 19, 2012 and March 19, 2023
Coincidence or Strategic? March 19, 2012 WMIH Exits Bankruptcy.
March 19, 2023 Flagstar enters a Purchase and Assumption Agreement with the FDIC to Purchase certain loan portfolios.
I theorize, these are the assets from Signature that were transferred to Flagstar, that were part of the 2003-2023 Pass Through Securities that came to Maturity in 2023. JMO
Assets are Never Lost, they just get Transferred. (My Belief)WMI INC. DBA//Mr Cooper Group Inc in agreement with its Wholly owned Subsidiary NationStar LLC. is Reunited with assets that were strategically transferred to and Serviced by Signature and now Strategically transferred to “Nationstar LLC,” not, “WMIH INC.” All to be Serviced by: “MR. COOPER GROUP.”
Go Coop!
_____________________________________________

Also, do NOT forget a DST will also play a major role. This could look like the following as shown in Amended POR 7 that the court signed on February 23, 2012.

WMI is a (DST) Delaware Statutory Trust with a Trustee with God-like powers that has total investment powers in this DST doing business under the DST ACT with those investors who signed timely releases by March of the year 2012.

These VERY, VERY FORTUNATE investors will be BENEFICIAL RECIPIENTS OF THE DST in time.

____________________________________________

The following is an older post involving the Platforms that held the former WaMu business some of which have merged and others that will still play a role.

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




...
👍️ 1 🤡 1 🦄 1
MadBadger MadBadger 16 hours ago
Thank you Xoom.
👍️0
MadBadger MadBadger 16 hours ago
SOON TO COME: MR COOPER GROUP INVESTORS FUND CLASS A XMNBK.
👍️ 1
Bill48 Bill48 16 hours ago
Thank you for sharing your thoughts on this!!
👍️0
Royal Dude Royal Dude 17 hours ago
IMO distribution By October 22 or earlier

1. Cash as little as possible Series A (Junk Bonds with no
interest)

2. Shares of COOP (>.058 x Legacy U,s) 60 Bil for WMB

3. Bonds of JPM (P's) 10 Bil

4. Alerian ETN JMJB= ! Bil

5. Preferred Shares JPM EE/NN for both P's K's and U,s combined from ( combined in one class of shares, using 19: 1 combining old preferred old to new
(Q,U,R,S) !0 B

FDIC cash and Series A non interest Bonds JPM 399 B

Fair and Reasonable Total $470 Bil
👍️ 1
Nightdaytrader Nightdaytrader 17 hours ago
What’s the rationale behind the Mr. Cooper-Flagstar deal?

The transaction will add 1.3 million customers to the Mr. Cooper servicing portfolio

July 25, 2024, 1:39 pm By Flávia Furlan Nunes

If closed as expected, the acquisition of Flagstar Bank‘s servicing businesses has the potential to make the mortgage servicing rights (MSR) portfolios of Mr. Cooper Group reach the $1.56 trillion mark in unpaid principal balance (UPB), consolidating the company into the top mortgage servicer in the country.

Mr. Cooper executives are deploying the strategy of increasing their servicing book to take advantage of an extensive customer base that is likely to refinance their mortgages when interest rates drop, which is anticipated in the next few months by monetary policy watchers. This could offset the loss in income with servicing assets when prepayments increase.

******* article continues but you need subscription..........

https://www.housingwire.com/articles/whats-the-rationale-behind-the-mr-cooper-flagstar-deal/
👍️0
Royal Dude Royal Dude 18 hours ago
Remember the Alamo, Do not forget
"Under the final rule, the FDIC will collect the special assessment at an annual rate of 13.4 basis points beginning with the first quarterly assessment period of 2024 (i.e., January 1 through March 31, 2024) with an invoice payment date of June 28, 2024, and will continue to collect special assessments for an anticipated total of eight quarterly assessment periods. The base for the special assessment is equal to an insured depository institution’s (IDI’s) estimated uninsured deposits for the December 31, 2022 reporting period, adjusted to exclude the first $5 billion in estimated uninsured deposits from the IDI, or at the banking organization level for IDIs that are part of a holding company with one or more subsidiary IDIs.

It is estimated that a total of 114 banking organizations will be subject to the special assessment, and no banking organizations with total assets under $5 billion will pay the special assessment, based on data for the December 31, 2022 reporting period.

https://www.fdic.gov/news/press-releases/2023/pr23092.html?fbclid=IwY2xjawER5sRleHRuA2FlbQIxMAABHarTFaylwY9urIO9oYgHN4Phr5NPQQRnbP9b8vVURla9IAaG-xJWWVSmnw_aem_kxctlHgwZvJKSKHhl01CHw

https://www.fdic.gov/sites/default/files/2024-03/2023-11-16-notice-dis-a-mem.pdf
👍️0
Bill48 Bill48 18 hours ago
I know!!! Where is the money! It can’t disappear too many eyes watching this!! Keep up the good work researching this!! Thank you!! Gltu
👍️ 1
Royal Dude Royal Dude 18 hours ago
WHERE IS OUR MONEY ANYWAY NO ONE HAS EVER GIVEN ME A GOO ANSWER ?
American Funds Washington Mutual Investors Fund Class A AWSHX
American FundsLarge Blend
Change fund
0.21 (0.37%)$55.86
YTD Return
+11.92%
As of November 30, 2023
Net Assets
$162B
https://www.capitalgroup.com/individual/search.html...
👍️0
Royal Dude Royal Dude 18 hours ago
After all is said and done, JPM netted 92 Billion from the First Republic and others this year.

"They erased this on iHub. Copy and post it everywhere especially iHub
June 28th beginning (t+1), prior under cover of July 4th, payment, JpM payment of dividends and interest for new Bonds from the combination of U,Q,R,S, ,payment of 92 bil from JPM for 92 billion to wmih netted from 3 mergers, payment of Jpm for their preferred shares NN. And these are just ideas off the top of my head"

https://www.sec.gov/Archives/edgar/data/19617/000001961722000079/a4q21erfexhibit991narrative.htm
👍️ 1
Nightdaytrader Nightdaytrader 19 hours ago
MadBadger, there is one other link I wanted to mention... It's not a link to Signature Bank but I did find a link to Silicon Valley Bank... This has probably been posted before but if not, I wanted to share it..

Below, the link shows Doreen Logan went to work for Silicon Valley Bank after it failed. Not sure if it means anything but I thought I would post anyway... after last week's Newflow post on Doreen Logan's Bonanza Paradise LLC, it made me wonder if Mr Cooper and WMIH and SVB are somehow tied together.

ND9

********************************

Doreen Logan
SVB Financial Group - Controller
Queen Creek, Arizona, United States Contact Info

About
Experienced Controller with a demonstrated history of working in the financial services industry. Skilled in Internal Audit, Accounting, Generally Accepted Accounting Principles (GAAP), Internal Controls, and Mergers & Acquisitions. Strong finance professional with a Master’s Degree focused in International/Global Studies from Liberty University.

Experience

Controller
SVB Financial Group
Apr 2023 - Present 1 year 4 months
Manage the accounting processes and reports for the former holding company of Silicon Valley Bank after SVBFG filed for Ch 11.
Perspectives USA Graphic
Finance
Perspectives USA
Jan 2023 - Jun 2023 6 months


Controller / Treasurer / Trust Administrator
WMI Liquidating Trust
Mar 2012 - Dec 2021 9 years 10 months
Greater Seattle Area
Quarterly Summary Reports for successor to Ch 11 company. Financial Reporting, payroll, accounts payable, cash management, human resources management. Annual SEC Reporting.

Controller / Assistant Treasurer
Washington Mutual, Inc.
Oct 2008 - Mar 2012 3 years 6 months
Greater Seattle Area
Monthly Operating Reports for Ch 11 company, payroll, accounts payable, cash management. Financial accounting.
Washington Mutual Bank
Washington Mutual Bank
9 years 4 months

First Vice President
Jan 2006 - Oct 2008 2 years 10 months
Seattle, WA
Structured, cross-border funding transactions; internal entity reorganizations or eliminations.
Vice President
Jul 1999 - Dec 2005 6 years 6 months
Stockton, CA / Seattle, WA
Cash Management, Trade Settlement, Treasury Operations. Retail back-office management.

Assistant Comptroller
Cameroon Baptist Convention
May 1997 - May 1999 2 years 1 month
Bamenda, Cameroon, West Africa
Financial reporting, bursar station audits, conversion of cash basis to accrual basis financial statements.
https://www.linkedin.com/in/doreen-logan-33290953
👍️ 2
Nightdaytrader Nightdaytrader 19 hours ago
Flagstar acquires $38B in assets, assumes $34B deposits from Signature
Transaction did not include $4B of deposits related to digital banking business

March 20, 2023, 12:49 pm By Flávia Furlan Nunes
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Flagstar Bank, a top-20 U.S. mortgage lender owned by New York Community Bancorp, announced on Sunday that it has assumed most deposits and acquired certain assets, business lines and liabilities of Signature Bridge Bank, N.A. from the Federal Deposit Insurance Corporation (FDIC).

Signature Bank, a New York-based large multifamily lender that disastrously bet big on crypto, collapsed last week after lacking liquidity amid a deposit run. Ultimately, the New York state chartering authority closed the bank on March 12. In a joint statement, the U.S. Department of Treasury, the Federal Reserve (Fed) and the FDIC cited “systemic risk” to justify the decision.

Flagstar, the 19th-largest mortgage lender in the country, acquired $38 billion in Signature’s assets, including approximately $25 billion in cash and $13 billion in loans, which were exclusively commercial and industrial loans. It says the transaction adds new verticals, including middle market specialty finance, healthcare lending and SBA lending.

With the deal, Flagstar will assume Signature’s $36 billion in liabilities, which includes $34 billion in deposits. The bank will also take 30 branches in the New York City metro area and several on the West Coast.

However, Flagstar’s bid did not include $4 billion of deposits related to the former Signature’s digital banking business. The bank did not acquire crypto-related assets. Deposits at Signature have been in free fall since the fourth quarter of 2022 due to the arduous rate environment and challenges in the digital asset space, the company said in the Q4 2022 earnings release.

Flagstar got Signature’s wealth management and broker-dealer business and is negotiating to sub-service the multifamily, commercial real estate and other loans it did not acquire.

“This transaction continues our transformation from a predominantly multifamily lender to a diversified full-service commercial bank,” Thomas Cangemi, CEO at New York Community Bancorp, said in a statement. The deal expands the bank’s net interest margin due to lower funding costs and reduces the loan-to-deposit ratio to less than 90%, Cangemi said.

The FDIC received equity appreciation rights in New York Community Bancorp common stock with a potential value of up to $300 million.

New York Community Bancorp announced a $2.6 billion deal to acquire Flagstar Bank in April 2021, a transaction completed in December 2022. The deal diversified NYCB’s portfolio with warehouse lending business, commercial and industrial loans, commercial real estate loans and residential mortgage loans, the bank said.

According to Inside Mortgage Finance estimates, Flagstar Bancorp was the second-largest warehouse lender in Q4 2022, with $12 billion in commitments and an 11% market share. (JPMorgan was the leader with $20 billion and an 18% share.) And the Signature’s transaction adds to the mortgage warehouse lending, Flagstar said.

Flagstar has obtained all regulatory approvals for the deal. However, the Office of the Comptroller of the Currency stated the transaction was conditionally approved, requiring Flagstar to allocate appropriate resources to the assets and liabilities acquired, and will require a supervisory non-objection before paying a dividend to shareholders.

According to the FDIC, approximately $60 billion in Signature’s loans will remain in the receivership for later disposition. The FDIC estimates the cost of the failure of Signature Bank to its deposit insurance fund to be approximately $2.5 billion.

https://www.housingwire.com/articles/flagstar-acquires-38b-in-assets-assumes-34b-deposits-from-signature/
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BigBang BigBang 19 hours ago
It’s been 16 years a bank of this size could take 20 - 25 years to resolveSounds ridiculous to me, however, it is what it is! To me this is criminal.
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xoom xoom 20 hours ago
Good post
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MadBadger MadBadger 20 hours ago
March 19, 2012 and March 19, 2023
Coincidence or Strategic? March 19, 2012 WMIH Exits Bankruptcy.
March 19, 2023 Flagstar enters a Purchase and Assumption Agreement with the FDIC to Purchase certain loan portfolios.
I theorize, these are the assets from Signature that were transferred to Flagstar, that were part of the 2003-2023 Pass Through Securities that came to Maturity in 2023. JMO
Assets are Never Lost, they just get Transferred. (My Belief)WMI INC. DBA//Mr Cooper Group Inc in agreement with its Wholly owned Subsidiary NationStar LLC. is Reunited with assets that were strategically transferred to and Serviced by Signature and now Strategically transferred to “Nationstar LLC,” not, “WMIH INC.” All to be Serviced by: “MR. COOPER GROUP.”
Go Coop!
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Juschilln Juschilln 20 hours ago
LOL!
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StormyVolcano1 StormyVolcano1 21 hours ago
COOP has NOTHING to do with a previous company in which escrows were given and then removed.

No one here has an answer as to how, why and more importantly WHEN $$$$ may appear.

It’s been 16 years a bank of this size could take 20 - 25 years to resolve.

We are historically years from seeing any money (if at all)…
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jhdf51 jhdf51 1 day ago
Yep a joke…

JHD
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jhdf51 jhdf51 1 day ago
Ok Bill. Yeah, I didn’t mean to upset you …I don’t know why you think there’s something coming for escrow from the report.

Escrow is behind the curtain stuff. Anyway, I hope you hold some COOP because that’s where the money is currently now. I’m not saying for a fact cause I don’t know, but there is most likely in my opinion, nothing coming for escrow.. I hope I’m wrong because I have a lot of it, but after all these years and many dates missed.

Well….

JHD
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PickStocks PickStocks 1 day ago
Did you hear…TWO very big money entity's continuously involved here ... (XXXX ... and, XXXX / XXX) ... NOT COOP' ... COOP will simply be USED'… XXXX will drive everything
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PickStocks PickStocks 1 day ago
Not one thing to do with with escrows…..
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novascotiaSTS novascotiaSTS 1 day ago
COOP has nothing to do with former Escrow holders - why should it?
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Bill48 Bill48 1 day ago
There’s no two ways about it! Coop has been fantastic in the last 5 years! Dang!! That is not what I was addressing in my post! Gltu some posters here and me were looking forward to seeing something positive for escrow holders from this 10Q
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StormyVolcano1 StormyVolcano1 1 day ago
Great COOP news..
So let’s see about our resident Dune poster.
NO SOON
NO DILUTION
NO MAKING UP SHARE SHORTAGE
NO DISTRIBUTIONS AFTER 60 DAYS ABOVE $50
I know I’ve missed tons of other debunked nonsense from the desert of Arizona.
If ever his total lack of knowledge or insight was exposed it was with the report!
Fool me once shame on you; fool me 50 times shame on me for being so stupid
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jhdf51 jhdf51 1 day ago
Escrow is no longer nor should have been the moment at hand...COOP is. If escrow comes after years and years fine, but I making good money on the stock, and have make alot since inception and when it fell back a couple years ago...

This is gonna be one for the record books in the future....the Monster at the mortgage table.

Best to you!

Respectfully,

JHD
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Bill48 Bill48 1 day ago
I wish I could see something to get excited about in this 10 Q ! But I’m not smart enough to know how to read into this 10 q to put anything together in favor of the escrow holders! I hope someone here can explain how this is beneficial to us!! Thanks
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Split T Split T 1 day ago
Mr. Cooper Group 10Q 2nd Quarter 2024

https://www.sec.gov/Archives/edgar/data/933136/000093313624000069/0000933136-24-000069-index.htm
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diamondguru-one diamondguru-one 1 day ago
Hmmmmm .058 ??????????? 58 million shares ready ??? COME ON PAYDAY !!!!!!!!!!!!!
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