M&A Deal Summary

Mr. Cooper Group Acquires Fleet Mortgage

On June 1, 2001, Mr. Cooper Group acquired financial services company Fleet Mortgage from FleetBoston Financial for 660M USD

Acquisition Highlights
  • This is Mr. Cooper Group’s 6th transaction in the Financial Services sector.
  • This is Mr. Cooper Group’s 7th largest (disclosed) transaction.
  • This is Mr. Cooper Group’s 6th transaction in the United States.
  • This is Mr. Cooper Group’s 1st transaction in South Carolina.

M&A Deal Summary
Date 2001-06-01
Target Fleet Mortgage
Sector Financial Services
Buyer(s) Mr. Cooper Group
Sellers(s) FleetBoston Financial
Deal Type Divestiture
Deal Value 660M USD

Target

Fleet Mortgage

Columbia, South Carolina, United States
Fleet Mortgage Corp., is a provider in the origination of residential mortgage loans, the company provides mortgages through retail offices in the Northeast, a national network of 1,000 correspondents, wholesale brokers nationwide, and its National Telesales Center.

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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 6 of 14
Sector (Financial Services) 6 of 14
Type (Divestiture) 2 of 4
State (South Carolina) 1 of 1
Country (United States) 6 of 14
Year (2001) 3 of 3
Size (of disclosed) 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-02-15 Bank United

Houston, Texas, United States

Bank United Corp., provides a range of banking services.

Buy $1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-01-04 DIME Bancorp

New York, New York, United States

DIME Bancorp is a national mortgage origination and servicing business and leading regional bank in the New York market with over 120 branches throughout New York City, Long Island, and northern New Jersey.

Buy $5.2B

Seller(S) 1

SELLER

FleetBoston Financial

Boston, Massachusetts, United States
Category Company
Founded 1791
Sector Financial Services
Employees47,500
DESCRIPTION

FleetBoston Financial was a bank and financial services firm created in 1999 by the merger of Fleet Financial Group and BankBoston.

DEAL STATS #
Overall 2 of 3
Sector (Financial Services) 2 of 2
Type (Divestiture) 2 of 3
State (South Carolina) 1 of 1
Country (United States) 2 of 3
Year (2001) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-03-15 BankBoston

Boston, Massachusetts, United States

BankBoston Corporation was a bank serving consumers and businesses. BankBoston offered a variety of banking services and also had operations throughout Latin America.

Buy $16.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-01 InterPay

East Hanover, New Jersey, United States

InterPay, founded in 1971, is a national payroll and human resource administrative services provider primarily focused on small- to medium-sized businesses located in 49 states. InterPay's offices encompass the Northeast and Mid-Atlantic regions of the U.S., as well as northern Illinois and Florida. InterPay provides a full range of payroll services, including payroll processing, payroll tax filing and employee pay services. Its HR administrative services include workers' compensation solutions, section 125 plans and employee benefit booklets.

Sell $182M
Mergr

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