Mr Cooper stock has formed a Burial Cross as of May 7, 2023, as the stock broke back below its 200 day moving average. The stock has a technical weak downtrend rating.
Mr. Cooper Group Inc. is a residential mortgage servicer and originator that provides services related to homeownership and mortgage servicing. The company offers a range of services, such as mortgage servicing, loan origination, and other services related to homeownership.
Mr. Cooper Group Reported First Quarter 2023 Results on April 26, 2023
Mr. Cooper reported Q1 EPS of 52c versus the consensus estimate of $1.06. The company reported Q1 revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... of $231 million versus the consensus estimate of $370.92 million.
Mr. Cooper says uninsured accounts held in money center, global banks
On March 13, 2023, Mr. Cooper Group made the following disclosures in relation to market events, including the recent closures of national banks: The company’s corporate uninsured cash accounts are held in money center and global investment banks; and client funds are held in insured deposit accounts at a mix of money center and regional banks. Separately, the company disclosed that over the course of Q1 it has increased the target hedge ratio on its MSR hedge position to 75% of the net duration risk in its MSR portfolio from 25% at year-end 2022, “with the goal of mitigating the risk to capital and tangible book value in a declining interest rate environment.”
