Current Report Filing (8-k)
March 13 2023 - 08:01AM
Edgar (US Regulatory)
false000093313600009331362023-03-132023-03-13
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): March 13,
2023
Mr. Cooper Group Inc.
(Exact Name of Registrant as Specified in
Charter)
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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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☐
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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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Item 7.01 Regulation FD Disclosure.
Mr. Cooper Group Inc. (the “Company”) made the following
disclosures in relation to market events, including the recent
closures of national banks:
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The Company’s corporate uninsured cash accounts are held in money
center and global investment banks; and
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Client funds are held in insured deposit accounts at a mix of money
center and regional banks.
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Separately, the Company disclosed that over the course of the first
quarter it has increased the target hedge ratio on its MSR hedge
position to 75% of the net duration risk in its MSR portfolio from
25% at year-end 2022, with the goal of mitigating the risk to
capital and tangible book value in a declining interest rate
environment.
The information furnished pursuant to this Item 7.01 shall not
be deemed to be “filed” for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”),
nor will such information be deemed incorporated by reference in
any filing under the Securities Act of 1933, as amended, or the
Exchange Act, except as may be expressly set forth by specific
reference in such filing.
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: March 13, 2023
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By:
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/s/ Kurt Johnson
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Kurt Johnson
Executive Vice President & Chief Financial Officer
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Mr Cooper (NASDAQ:COOP)
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