M&A Deal Summary

Mr. Cooper Group Acquires Flagstar Bank - Mortgage Serving Business

On November 1, 2024, Mr. Cooper Group acquired financial services company Flagstar Bank - Mortgage Serving Business from Flagstar Bank for 1.3B USD

Acquisition Highlights
  • This is Mr. Cooper Group’s 14th transaction in the Financial Services sector.
  • This is Mr. Cooper Group’s 5th largest (disclosed) transaction.
  • This is Mr. Cooper Group’s 14th transaction in the United States.
  • This is Mr. Cooper Group’s 2nd transaction in Michigan.

M&A Deal Summary
Date 2024-11-01
Target Flagstar Bank - Mortgage Serving Business
Sector Financial Services
Buyer(s) Mr. Cooper Group
Sellers(s) Flagstar Bank
Deal Type Divestiture
Deal Value 1.3B USD

Target

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.

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Buyer(S) 1

Buyer

Mr. Cooper Group

Coppell, Texas, United States
Category Company
Founded 2015
Sector Financial Services
Employees6,800
Revenue 2.3B USD (2023)
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 STATS #
Overall 14 of 14
Sector (Financial Services) 14 of 14
Type (Divestiture) 4 of 4
State (Michigan) 2 of 2
Country (United States) 14 of 14
Year (2024) 1 of 1
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-03 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.

Buy $324M

Seller(S) 1

SELLER

Flagstar Bank

Troy, Michigan, United States
Category Company
Founded 1987
Sector Financial Services
Employees4,641
Revenue 1.7B USD (2020)
DESCRIPTION
Flagstar Bancorp's corporate headquarters in Troy, Michigan.
Flagstar Bancorp's corporate headquarters in Troy, Michigan.

Flagstar Bank is a savings and loan holding company that primarily originates or purchases residential mortgage loans throughout the US and sells them into securitization pools, primarily to Fannie Mae, Freddie Mac, and Ginnie Mae or as whole loans. In addition, Flagstar originates or purchases residential first mortgage loans, consumer loans, commercial loans and warehouse loans included in held-for-investment loan portfolios. Flagstar Bancorp was originally established in 1987 and is based in Troy, Michigan.

DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 2 of 2
Type (Divestiture) 2 of 2
State (Michigan) 1 of 1
Country (United States) 2 of 2
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-03 Opes Advisors

Palo Alto, California, United States

Opes Advisors, Inc. is a full-service mortgage bank and financial advisory firm, the company offers a wide range of competitively-priced mortgage programs, as well as financial planning and investment management from its Wealth Management division.

Buy -
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