Mr. Cooper Group (COOP) Q3 2023 Earnings Call Transcript Summary
Mr. Cooper Group Inc. (COOP) Q3 2023 Earnings Call Summary
Here are the specific viewpoints from the earnings call:
Bullish Points:
1. Operating ROTCE of 13.8% is back within target range
2. Tangible book value increased to $62.78
3. Mr. Cooper is now the No. 1 servicer in the country
4. Servicing generated 301 million in pre-tax income
5. Originations reported EBT of 29 million
6. Xome saw strong sales momentum and generated a small profit
7. Closed the acquisition of Roosevelt Management
8. Repurchased 1 million shares for 58 million
9. Record liquidity and very strong capital ratios
10. Ranked as one of the best workplaces in financial services and insurance by Fortune and Great Place to Work Foundation
Bearish Points:
1. Some seasonality in net interest income
2. Deboarding fees from a subservicing client taking their portfolio in house
3. Guidance of 10 million to 20 million for fourth quarter in originations
4. Flat results expected for Xome in the fourth quarter
5. FHA foreclosure market remains below normal level
6. Slight increase in delinquencies expected
7. Limitations on operational capacity for boarding loans
8. Margin compression in the correspondent channel due to higher rates and lower volume
9. Competitive dynamics in the correspondent channel
For more information about Mr. Cooper Group Inc.'s earnings call, you can read the relevant news: Mr. Cooper Group (COOP) Q3 2023 Earnings Call Transcript
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