Add-on Acquisition • Financial Services

Mr. Cooper Group Acquires Homepoint

On August 3, 2023, Mr. Cooper Group acquired financial services company Homepoint for 324M USD

Acquisition Context
  • This is Mr. Cooper Group’s 13th transaction in the Financial Services sector.
  • This is Mr. Cooper Group’s 8th largest (disclosed) transaction.
  • This is Mr. Cooper Group’s 13th transaction in the United States.
  • This is Mr. Cooper Group’s 1st transaction in Michigan.

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M&A Deal Summary

Date August 3, 2023
Target Homepoint
Sector Financial Services
Buyer(s) Mr. Cooper Group
Deal Type Add-on Acquisition
Deal Value 324M USD

Target Company

Homepoint

Ann Arbor, Michigan, United States
Homepoint is a mortgage banking business that is focused on residential mortgage origination, servicing, and asset management. Homepoint was founded in 2014 and is based in Ann Arbor, Michigan.
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Buyer Overview 1

Buyer

Mr. Cooper Group

Coppell, Texas, United States

Category Company
Founded 2015
Sector Financial Services
Employees7,900
Revenue 3.0B USD (2024)
DESCRIPTION

Mr. Cooper Group is a provider of quality servicing, origination, and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands: Mr. Cooper® and Xome®. Mr. Cooper Group was founded in 2015 and is based in Coppell, Texas.


Deal Context for Buyer #
Overall 13 of 14
Sector: Financial Services 13 of 14
Type: Add-on Acquisition 8 of 8
State: Michigan 1 of 2
Country: United States 13 of 14
Year: 2023 2 of 2
Size (of disclosed) 8 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-09 Roosevelt Management

New York, New York, United States

Roosevelt Management is an investment management firm that focuses on investments in, management of, and servicing of residential whole loans and mortgage servicing rights. Roosevelt Management was founded in 2008 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-01 Flagstar Bank - Mortgage Serving Business

Troy, Michigan, United States

Flagstar Bank’s mortgage operations include acquisition of MSRs, advances, subservicing contracts, and Flagstar’s third-party origination platform.

Buy $1.3B