Current Report Filing (8-k)
December 07 2020 - 04:01PM
Edgar (US Regulatory)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): December 7,
2020
Mr. Cooper Group Inc.
(Exact Name of Registrant as Specified in
Charter)
Delaware
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001-14667
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91-1653725
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(State or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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8950 Cypress Waters Blvd.
Coppell, TX 75019
(Address of Principal Executive Offices, and Zip Code)
469-549-2000
Registrant’s Telephone Number, Including Area Code
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see
General Instruction A.2. below):
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Written communication pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
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Pre-commencement communication pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communication pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, $0.01 par value per share
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COOP
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The Nasdaq Stock Market
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Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (17
CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934
(17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
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Mr. Cooper Group Inc. (the “Company”) announced today that it has
reached a resolution of certain legacy regulatory matters with the
Consumer Financial Protection Bureau, the multi-state committee of
mortgage banking regulators and various State Attorneys General,
and the Executive Office of the United States Trustee, all of which
involve findings from examinations and discussions that were
completed in 2014 and 2015, and relate to certain loan servicing
practices which occurred during 2010 through 2015. Subsequent
reviews demonstrated that management and the board had taken
positive steps to address these issues, that the Company had made
significant governance and operational improvements, and that the
Company had strengthened internal control systems to ensure that
they were appropriate for the size and scope of its operations. The
settlements include restitution the Company provided to customers
during the last six years. Additionally, the Company has
mutually agreed to a resolution payment in the amount of
$28.6 million consisting of remediation, penalties and fees,
which the Company will make immediately after the judgment
is recorded. The Company has previously
fully accrued for all costs associated with the settlement. A copy
of the press release is attached as Exhibit 99.1 to this Current
Report on Form 8-K.
Item 9.01
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Financial Statements and Exhibits.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
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Mr.
Cooper Group Inc.
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Date:
December 7, 2020
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By:
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/s/ Christopher G. Marshall
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Christopher G. Marshall
Vice Chairman & Chief Financial Officer
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