Mr. Cooper Acquires Flagstar Bank's Mortgage Operations

Mr. Cooper Group Inc. has closed its previously announced acquisition of Flagstar Bank N.A.'s mortgage operations, acquiring MSRs, advances, subservicing contracts, and Flagstar's third-party origination platform for approximately $1.3 billion in cash. The deal expands Mr. Cooper's servicing and origination capabilities and transfers Flagstar's mortgage customers and team members to Mr. Cooper, with full operational integration expected in early 2025.