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>>>>HIGHLIGHTS from the last COOP 4Q'23 EARNINGS CALL<<<<
Recording of the webcast: https://edge.media-server.com/mmc/p/y3cdmnwt/
Presentation: https://s1.q4cdn.com/275823140/files/doc_financials/2023/q4/4Q-23-Earnings-Presentation-FINAL.pdf
Transcript: https://www.fool.com/earnings/call-transcripts/2024/02/09/mr-cooper-group-coop-q4-2023-earnings-call-transcr/
My favorite parts are...
The WMIH merger brought us 1 billion in deferred tax assets. At the time, there was skepticism about their value.
Today, we have realized 63% of that balance in the form of incremental cash flow, which has helped us exceed expectations in terms of both growth and stock repurchase. So, where are we going from here? We're now seeing some of the best growth opportunities in the company's history. And we will continue to grow our servicing portfolio as we have for the past 15 years. But our strategic focus is now squarely on return on equity, which shouldn't surprise you since we've been commenting on ROTCE on every quarterly call.
But we will work diligently to compound tangible book value at a double-digit pace which for us is an exciting prospect.
But I don't think one-time tangible book is the end of our story, not by a long shot. Certainly not for a company with such a successful track record and now such an impressive leadership position.
Thanks Dark, I apologize for my incorrect number of shares. I am happy to see how many people read my post. I didn't think anyone read them. I just try to post news and not opinion.
Your words "In other words its price manipulation!" That may be true.
Just out:
Marshall Christopher G, to receive and sell shares on 03/18/2024.
Receive 29166 and Sell 29166 worth $2,131,742.00.
This is probably a good idea so people don't say a insider is only selling shares.
He already has 64,602,234 shares.
https://archive.fast-edgar.com/20240318/AS2E422CZ22EI2Z2222P2CEZA7GSZZ62B262/
👉$COOP BOD:"...our STRATEGIC FOCUS is now SQUARELY on RETURN ON EQUITY..."
...said the COOP BOD at the last earnings call
See: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173821650
Yes I agree. Conversely, optimists are here 24/7 talking of dates that have never materialized.
Respectfully,
JHD
Thanks Pick. You as well.
JHD
$COOP price targets====>DEUTSCHE BANK👉$88, Piper Sandler👉$88, UBS👉$86, Wedbush👉$85, KBW👉$81, Barclays👉$80, Compass Point👉$76
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Mr. Cooper Group Inc. (NASDAQ: COOP) provides 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 is one of the largest home loan servicers in the country focused on delivering a variety of servicing and lending products, services and technologies. Xome provides technology and data enhanced solutions to homebuyers, home sellers, real estate agents and mortgage companies.
Upon completion of the merger between WMIH Corp. and Nationstar Mortgage Holdings Inc. on July 31, 2018, WMIH became the parent company of the Nationstar Mortgage Holdings Inc. family including Mr. Cooper (Nationstar Mortgage LLC, d/b/a Mr. Cooper), Xome and Champion Mortgage (Nationstar Mortgage LLC d/b/a Champion).
As of October 10, 2018, Mr. Cooper Group Inc. is the new name of WMIH Corp. On July 31, 2018, WMIH, now Mr. Cooper Group, became the parent company of the Nationstar Mortgage Holdings Inc. family including Mr. Cooper (Nationstar Mortgage LLC, d/b/a Mr. Cooper) and Xome.
As early as late 2006, WaMu would begin to become a victim of what would eventually become the worst recession in US history since the Great Depression of 1929. WaMu's aggressive business strategy would begin to unfold throughout the end of 2006 and become increasingly disastrous through 2007. As housing rates were at all time highs before the recession began, WaMu would use its considerable leverage and assets to make large amounts of loans in both subprime mortgages and subprime credit cards. The banking division of WaMu at one point before the end of 2007 had nearly 336 stand-alone branch buildings where various types of home loans were processed and approved. WaMu would eventually over leverage themselves due to the high number of Adjustable Rate Mortgages (ARMs). As the US economy slowed down, the number of home loan defaults began to rise in quick succession. This coupled with the falling home prices throughout most of the US meant that even with foreclosures and the properties back in the hands of the company, they were unable to sell them back into the market, or were not able to derive enough revenue from the sale to cover the loan that was made on them. In the mean time, the credit card division was also seeing a surge in the number of late and non payments being made.
By September of 2008, WaMu's stock price had fallen to $2 from its previous highs of around $50 just two years earlier. Amid strong voices from the shareholders, then company CEO Kerry Killinger was dismissed by the company board. In the meantime, the company went looking for a buyer for part of its banking division. WaMu had been unsuccessful in finding an appropriate buy until its seizure by the FDIC. Overnight the companies banking division was bought by JP Morgan Chase in a secret deal brokered by the FDIC for 1.9 billion dollars. Washington Mutual Inc. has reorganized to Washington Mutual Holding Inc. WITH SHAREHOLDERS INTACT
WMI Equity Escrow Calculator
WMIH: Here's how old shares relate in value to the new shares.
AI
