is I like stocks
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Good morning people: IMHO. Ol' Cactus has no bearing on what I believe or not,I think he just likes to get a twist in once in a while to see how many respond with the norm replies of distaste for his XXXX I know something you don't, is it live or is it Memorex, Why else as he could just continue with Emails right, and yes once in a long while I'll through a poke his way jokingly .but he can not change the outcome (IFFEN) sooooo? I continue to enjoy my COOP stock or what I have kept and will continue to do so as it's all money to me
Have a GREAT LABOR DAY PEOPLE as I am recouping from the weekend festivities 😉
GOGOOOOCOOP-Ts
Well there’s that kick I was looking for before Sept. a little buffer sort of to speak 😉
GOGOOOOOCOOP
Have great extended holiday weekend people -SEYA TUESDAY - Ts 😂👍🍻🥃
Good late morning people , I posted a few days ago about a little tug of war going on with this paper also Sept . Is not a good trading month according to history for stocks , end of month trading could go either way ,I was thinking / hoping might be a bump up ( yeah I know) 92’s before Sept , hey BWTFDIK.
GOGOOOOOOCOOP
HAVE A GREAT DAY PEOPLE ,GLTA-Ts😉
Ndt Once in a long while when I think about the HEDGE FUNDS +COLORFUL and then an ole board game comes to mind , Monopoly , the get out of jail free card + do not pass go and do not collect $200., COLORFUL GAME IS IT NOT! 🫣🤔
Alllll I can say issssss GOGOOOOCOOP
GLTA & Have a great day people -Ts😉
In the last 8 trading sessions COOP has been able to hold in the 90’s in the last two trading sessions in the 92 pps grant you it’s been a little tug of war it seems as of this post , as for any rate decrease/s I believe our COOP would need a drop of at lease 1+++ for it to prosper more or some how purchase more who wish to get out of service of , but! with lower rates comes more biz so that might be a little harder to do or just more expensive IMHO
GOGOCOOP GLTA-Ts
Googd morning people ,FYI. I came across this article on HOUSINGWIRE
https://www.housingwire.com/articles/when-rates-skyrocketed-mortgage-servicing-reset-the-board-the-next-battle-is-about-to-begin/#:~:text=Analysts%20widely%20expect%20banks%20to,them%20more%20costly%20to%20maintain.
August 26, 2024,
When rates skyrocketed, mortgage servicing reset the board. The next battle is about to begin
After repositioning their servicing portfolios, mortgage companies will have their MSR strategies tested when rates drop
When interest rates began skyrocketing more than two years ago, mortgage companies faced a pivotal decision regarding a crucial part of their business: the servicing portfolio.
This period was a windfall for servicers. Rising rates typically slow down borrower prepayments, increase the fair value of mortgage servicing rights (MSRs), and enable companies to earn more interest on funds held in escrow accounts.
The dynamic has led to a repositioning of players in the market. Many independent mortgage banks opted to sell a substantial portion of their MSRs, aiming to free up cash and stay afloat amidst declining origination activity. Some opted to sell in anticipation of future regulatory capital requirements, while others simply lack interest in maintaining these
When interest rates began skyrocketing more than two years ago, mortgage companies faced a pivotal decision regarding a crucial part of their business: the servicing portfolio.
This period was a windfall for servicers. Rising rates typically slow down borrower prepayments, increase the fair value of mortgage servicing rights (MSRs), and enable companies to earn more interest on funds held in escrow accounts.
The dynamic has led to a repositioning of players in the market. Many independent mortgage banks opted to sell a substantial portion of their MSRs, aiming to free up cash and stay afloat amidst declining origination activity. Some opted to sell in anticipation of future regulatory capital requirements, while others simply lack interest in maintaining these assets.
Conversely, other companies seized the opportunity to expand their portfolios, securing the future right to get the inside track on refinancings when rates eventually drop. In the meantime, these companies could market other products, such as home equity loans, to borrowers in these portfolios.
Now, with the Fed expected to lower interest rates at its upcoming September meeting, which could bring down mortgage rates, the strategies lenders have implemented over the past two years will be put to the test.
“Rate declines will impact companies differently based on their business model,” said Craig Freel, partner and co-chief investment officer at Rice Park Capital Management, an investor in residential mortgage assets.
According to Freel, originators that do not own MSRs are likely to benefit from lower rates due to higher origination volumes and the absence of markdowns on their servicing books. However, originators with large MSR portfolios may face challenges, as the value of their MSRs will decrease when rates drop.
There is a caveat: “What we’ve seen of most large-integrated operators is that they have become much more successful at focusing on recapture. That will offset some of the losses. Also, many large firms now hedge either all or a portion of the interest rate risk, something that has changed over the last 10 years. So, they are positioned better to handle it.”
In recent weeks, HousingWire has listened to mortgage lenders’ second-quarter earnings calls, reviewed analysts’ comments and interviewed industry experts to address a critical question: From a servicing perspective, which companies are best positioned for the new rate cycle?
“A sticky Rolodex of relationships”
No company exemplifies the strategy of acquiring MSRs at higher coupons to offer refinancings when rates drop better than Mr. Cooper Group. Analysts have called the company a servicing “powerhouse,” after it acquired Home Point Capital’s $84 billion servicing portfolio in May 2023 and Flagstar’s $356 billion book in July 2024.
As of June 30, Mr. Cooper had become the largest U.S. primary servicer—those companies with direct consumer interactions, regardless of who owns the servicing rights—with a $1.2 trillion unpaid principal balance (UPB). The company is expected to reach a UPB of $1.5 trillion once the Flagstar deal closes. Additionally, Mr. Cooper ranks as the fourth-largest holder of MSRs, considering both whole loan portfolios and servicing rights, with $676 billion at the end of June—an increase of 70% over two years, according to Inside Mortgage Finance.
The company’s focus is to capitalize on its 6.6 million clients, a number it will likely reach by early 2025 after migrating Flagstar’s customer base. Mr. Cooper estimates it will hold about $132 billion in mortgages at 6% or higher once the acquisition is finalized.
But acquiring these clients is only part of the strategy. Mr. Cooper must maintain high retention rates to drive more business, an achievement that requires investment in technology and product development. In the second quarter of 2024, the company’s refinance recapture rate stood at 72.5%, positioning Mr. Cooper to add tens of billions in origination volume when rates fall below 6%.
“We expect most of the [Flagstar] purchase price is ascribed to the owned MSRs, although we also see value in a sticky Rolodex of relationships in the Flagstar subservicing portfolio,” BTIG analysts Eric Hagen and Jake Katsikas said in a report. They noted that the deal “adds to Mr. Cooper’s significant scale, making it the top servicer over JPMorgan Chase.”
Like Mr. Cooper, Freedom Mortgage has also demonstrated a strong appetite for higher-coupon servicing assets. In September 2023, the company raised $1.3 billion in debt. According to IMF estimates, Freedom Mortgage’s primary servicing portfolio grew by 23.5% over two years, reaching $523 billion by the end of June, while its owned portfolio increased by 34% to $589 billion in the same period.
“The credit today is probably the best we’ve seen,” Stan Middleman, founder, president and CEO of Freedom Mortgage, said. “We’ve taken the opportunity to exercise our access to the capital markets, and raise a lot of money to ‘buy customers’ in bulk or in flow. And we really think we’re gonna have these customers with us for a really long time. That’s our goal.”
Middleman pointed to average loan-to-value ratios of 50%, average debt-to-income ratios in the low 40% range, and credit scores in the low 700s as indicators of an “extraordinary” credit.
Rocket Mortgage has also begun to expand its servicing portfolio. The company, ranked as the No. 8 primary mortgage servicer in the U.S. per the IMF ranking, acquired five portfolios totaling $21 billion in UPB in the second quarter of 2024.
“The note rate on these portfolios are above Rocket’s current portfolio weighted average coupon because Rocket has shown a preference for acquiring near- or in-the-money servicing portfolios,” Jefferies analysts Derek Sommers and John Hecht said in a report.
Varun Krishna, CEO of Rocket Companies, told analysts during an earnings call in early August that the retention machine is working since the company is “retaining clients for the next transaction at rates three times higher than the industry average, positioning ourselves as their lender for life and generating recurring cash flow without additional acquisition costs.”
When servicing can be a ‘drag’
A side effect of lower rates is the reduction in the fair value of MSRs, an accounting effect that can weigh down companies’ earnings. Some companies attempt to offset this impact with stronger origination performance and by hedging their servicing assets. For Newrez, owned by Rithm Capital, analysts expect that this strategy will yield positive results in the coming quarters.
Newrez’s primary servicing portfolio grew by 49% in two years, reaching $741.6 billion by the end of June 2024, placing it fourth in the industry. Its owned portfolio increased by 7% during the same period, reaching $596 billion, making it the sixth largest, according to IMF data.
Although Rithm executives assert that the company is not aggressively pursuing servicing growth, it did engage in acquisitions, notably adding $154 billion in UPB from Specialized Loan Servicing after a deal closed in May.
Currently, most of the company’s servicing portfolio – 96% to be exact – is out of the money for refinancing, with a weighted average coupon of about 4%, well below production level. The prepayment rate stands at 6.2%, and the company is bolstering its hedging strategies to protect these assets.
“Our earnings estimates are under review, but even with significant growth in the servicing portfolio, we roughly expect upwards of around $50 billion of originations over the next 12 months should still replace MSR runoff between 6-9 in conditional prepayment rate,” BTIG analysts noted in a report. “At much lower rates we think MSR amortization risks being a bigger drag, but at its current size/leverage we’re not looking for quarterly amortization to breach $200 million, or $0.40/share.”
Pennymac is another nonbank working to safeguard its servicing book. As of the end of June, its owned portfolio stood at $632 billion, marking a 20% increase over the past two years.
William Chang, senior managing director and chief investment officer at Pennymac, said the company’s hedge strategy is designed to minimize earnings volatility and enable borrowing against its MSRs. Hedge gains help to offset the decline in fair value decline and cover margin calls if necessary, he added. Pennymac considers “basically 125 basis points higher and 125 points lower” when planning its hedging strategy, Chang said.
Jefferies analysts Sommers and Hecht highlighted another advantage for Pennymac in the upcoming business cycle: the company’s multi-channel strategy.
“PFSI has $113 billion in UPB in its servicing portfolio of mortgages with above 6% note rates, which was mostly procured through the lower margin correspondent channel,” the analysts said “These loans will be refinanced through its higher margin direct-to-consumer channel.”
Who’s on the opposite side?
If servicing can provide some gains when rates drop, why have some companies strategically chosen to sell these assets? Freedom Mortgage’s recent plays offer insight.
“We’re buying from different people that need to raise cash for operations, or just to get into some stability or just to take some risk off the table, whatever the case is,” Middleman said. “At the end of the day, there was a lot of servicing accumulated throughout 2020, 2021 and 2022, and some of that has paid dividends along the way, and now they’re [sellers] taking the opportunity to get high prices, and we’re paying high prices because we like the product.”
One company that has opted to sell is California-based loanDepot, which has been dealing with financial losses. According to IMF data, loanDepot’s owned servicing portfolio declined by 26% over two years, reaching $114 billion in UPB as of June. Recently, the company sold a significant portion of its MSRs, primarily from low-coupon originations from the 2020 and 2021 vintages.
“We opportunistically took advantage of strong market conditions and monetized approximately $29 billion of unpaid principal balance of our mortgage servicing rights,” David Hayes, loanDepot’s chief financial officer, told analysts.
While selling MSRs can boost earnings in the short term, it has long-term consequences. “As a result of the smaller portfolio, we expect servicing revenue to decrease somewhat going forward. We hedge our servicing portfolio, so we do not record the full impact of the changes in fair value and the results of our operations. We believe this strategy protects against volatility in our earnings and liquidity.”
To counterbalance this, loanDepot has also been gradually increasing its number of loan officers and enhancing its operational capabilities to capitalize via mortgage origination on a lower-rate environment in the future.
Another active seller in the MSR market is Pontiac, Michigan-based United Wholesale Mortgage (UWM), the country’s largest originator. UWM executives have strategically sold higher-coupon MSRs to deleverage the company’s balance sheet and reinvest in its origination business. The company is confident that its network of brokers will drive business growth when mortgage rates decline.
Mat Ishbia, chairman and CEO of UWM, said in a call with analysts that when rates drop, lenders will get flooded with refinances because trillions of dollars of loans were originated in the 6.5% to 8% range. Volumes will increase, as will gain-on-sale margins. In turn, “MSR write-downs will be massive,” he added.
“Obviously, nobody controls the MSR write-ups and write-downs. We never take credit when it goes up. We don’t want to take credit when it goes down. We want to focus on origination,” Ishbia said. “For us, we don’t buy MSRs, we originate them. I don’t see a slowdown in people buying MSRs because that’s the only way they can originate.”
Analysts note that UWM has performed well in the purchase-oriented market that emerged in the second half of 2022. As evidence of this, the company is currently the top mortgage lender in the country. During this period, UWM’s management has invested in tools and technology to enhance broker capacity, positioning the company to maintain its market share in the event of a refinance boom. To further support this, UWM is offering incentives on some refi loans.
Banks vs. nonbanks
Analysts widely expect banks to scale back their involvement in mortgage servicing due to increasing regulatory pressures. The forthcoming Basel III Endgame rules, slated for publication early next year, are anticipated to raise capital requirements for holding these assets, making them more costly to maintain. A sign that a pullback will occur is in UBS Group AG‘s recent decision to sell Credit Suisse’s mortgage servicing company, Select Portfolio Servicing (SPS), to a group of investors led by Sixth Street.
The most significant move in the space, however, comes from Wells Fargo. The bank has elected to exit the home lending correspondent channel, reduce its presence in residential mortgage servicing and sell off most of its commercial servicing assets. Once the leader in the primary mortgage servicing market, Wells Fargo was the third-largest player by the end of June, with $771 billion in UPB, trailing Mr. Cooper and JPMorgan. Its owned servicing assets have dropped by 21% over the past two years to $769.2 billion, positioning it second after JPMorgan.
Competitor JPMorgan took the crown from Wells Fargo, with a $977 billion owned servicing book as of June, up 17% in two years. In the top primary mortgage servicers ranking, it was the second largest after Mr. Cooper, with $949.8 billion in UPB as of June, up 20% in the period.
However, it would be a mistake to assume that banks are retreating entirely from the servicing sector. As of the end of June, depository banks made up four of the top 10 firms in owned mortgage servicing—JPMorgan Chase, Wells Fargo, US Bank Home Mortgage, and Bank of America—though their collective market share in UPB has declined by five basis points to 42% over the last two years. Among the top 10 primary mortgage servicers, banks’ share increased by three basis points to 30%, with JPMorgan, Wells Fargo, and Flagstar featured prominently.
Regulators, meanwhile, may be favoring depositories with their recent moves. A recent report from the Financial Stability Oversight Council (FSOC) highlighted vulnerabilities at nonbank mortgage servicers, warning that these could pose risks to financial stability. The FSOC recommended increased regulation and measures to bolster these companies’ liquidity during periods of stress.
Additionally, Ginnie Mae’s new risk-based capital requirement—effective December 31, 2024—poses a significant challenge for nonbanks. While it reduced the minimum risk-based capital ratio from 10% to 6%, it also imposed a 250% risk weight on MSR assets and mandated a dollar-for-dollar deduction from capital for excess MSRs.
“When we talk about companies getting as large as some of the largest nonbank servicers have gotten, there certainly needs to be an evaluation of what are the risks of that company not being able to function in the market, and what happens to the underlying consumers,” Rice Park’s Freel said.
Have a great day people
GLTA-Ts
Sorry can’t get file to down load , Ts
Good morning people , The numbers are looking good as of this post ,the drop after a low number day of shs traded last from one to two days before a climb back up GLTA 😉
GOGOOOOOOCOOP
Have a great day -Ts
Good morning people ,FYI. It would seem that once every month since April COOP has had one under 200, in a single day of shs traded and and 70% ( Aug is still pending for the next few days )of the time we had downward trends for a few days , hey don’t get me wrong I luv the uptrend without a doubt ,it’s just something’s I look at from my momo trading days, bwtfdik.
GoGoooooCOOP
Have a great day people Ts 😉
Good morning people, Well back in the 90’s yesterday , today should be interesting to see if COOP/OTIS holds this time around , I hope so , but !!! Who knows
GOGOOOOOOCOOP GLTA
TGIF BABEEEEEE- Ts
Wall Street has never been more sure lower rates are coming. But as always, the devil is in the details.
The latest BofA Global Fund Manager Survey released Tuesday shows that 93% of investing professionals who manage a combined $590 billion in assets believe short-term interest rates will be lower in one year.
That figure marks an all-time high stretching back to the beginning of the survey in 2001 — far surpassing the pandemic high of about 60%, as well as the survey results in 2008, which topped 80%.
This extreme opinion is buttressed by its corollary: The Fed's monetary policy is already at an extremely restrictive level. Fifty-five percent of survey respondents believe as much, which is the highest level since October 2008.
That comparison is notable. Back then, Lehman Brothers had just failed, and the Dow was routinely dropping hundreds of points any time an official appeared on national television attempting to calm the public.
Today, the biggest credit risk is related to the Japanese yen carry trade, which blew up last Monday. And while it may cause further destabilization across the Pacific, the carnage has been contained.
Nevertheless — as is typically the case on Wall Street — the incident only served to ramp up rate cut expectations, for which the stars are finally aligning. Economic data has also softened to the point that the issue of Fed independence (lowering rates ahead of an election) has taken a back seat — essentially greenlighting a move at the mid-September meeting.
The July unemployment level jumped to 4.3% and triggered the Sahm Rule recession indicator — pivoting the rate cut discussion from "if" to "how many" in September. Currently, markets are pricing in 36 basis points, or about one-and-a-half rate cuts.
Thursday's weekly jobless claims will also be closely watched for any outliers, but the big event this week comes down to the inflation numbers released by the BLS Wednesday.
Only a large, unexpected jump in inflation Wednesday would begin to take September off the table. And any surprise weakness will likely boost expectations for cuts.
In fact, the worst case for investors would be a reading that confirms outright price deflation, which would likely signal the US is already in recession. Investors might recall that's precisely what the Sahm Rule attempts to measure — the onset of recession.
GLTA-Ts
Hey Ole Cactus , but! but!,but “ a brand new caddy CT-5, the C-8 of course, and the HD Dyna' Stage 1 "screamin' eagle"
Nahhhhh never mind but you know what I’m hinting 🤭So Whois holding the subset K. TheFDIC or did Jimmy sell them in the wash along with 🤔or maybe you can let me know where I could see them 😂
😂
GOGOCoop
Have a great night people -Ts
I could care Whois right ,just as long as one of them issssss RIGHT,,!! 😀 I hope,I hope😉 I can always spend more heheh along with helping others (IFFEN ) they are both wrong , so be it, life isssss still great with family n friends
GoGooooooCOOP
Have a great evening people-Ts
Schwab, Fidelity, other online trading brokerages appear to go dark during huge market sell-off
https://www.yahoo.com/finance/news/schwab-fidelity-other-online-trading-151427448.html
Thanxs goes to BP Member HSGWSWAMU26YEARS
The markets look better as of this post , but who knows lol
GoGoooooCOOP
I’m running a little late getting to exerciseing 😳😂
Have a great day people GLTA-Ts
Good morning people: Split T I didn’t look at the exact time ,but I tried my cell and than I tried my note pad to no prevail , later on in the morning everything was ok , I didn’t have a power prob because we have solar , it was on their end for sure for whatever reason , as of this post it’s all good
But I would. have been really pissed if I was momo playing for freebies, which I’m not as this pps is to high for me after it passed the 50 pps hence it (40%+shs left goes where it goes ,up would be better😂Take care
GoGooooooCOOP
GLTA-Ts
Jhd51 The thinkorswim is shot WTF?????? Everyone should start complaining to them even if they don’t give a shet
GLTA-Ts
Money Watch -Mortgage rates tumbled on Friday to their lowest since April 2023 after a weak jobs report sent bond yields sharply lower and boosted Wall Street's expectations for an interest rate cut from the Federal Reserve at its September meeting.
The average rate for a 30-year fixed mortgage dropped 0.22 percentage points to 6.4%, according to Mortgage News Daily. That's the lowest average rate for the most commonly held home loan since April 2023, according to data from Freddie Mac.
"The market is moving ahead of the Fed, bringing down longer-term rates including those for mortgages, which should lead to both more home purchases and a pickup in refinance activity," Mike Fratantoni, chief economist, with the Mortgage Bankers Association, said in a report.
On Friday morning, the Labor Department reported that hiring abruptly slowed in July, with employers adding far fewer jobs than economists had expected, while the unemployment rate jumped to its highest point since late 2021. The significant miss sent stocks tumbling as well as yields on the 10-year U.S. Treasury, which mortgage rates closely follow.
The sharp decline in mortgage rates could offer some relief to house hunters, as many have been priced out of the market given the double whammy of high borrowing costs and home prices that reached a record in June. Mortgage rates could fall even lower in the coming weeks, said NAR Chief Economist Lawrence Yun in a statement.
GLTA-Ts
August Is Usually Tough for Markets. Just Look at Today.( BARRONS)
Welcome to August. The lazy, hazy days of summer may be a time for beach vacations and baseball, but they're also when market bears can come out of hibernation.
They certainly did on Thursday.
Stocks slid following weak jobless claims and manufacturing reports. And if history is any guide, August could be a tough one for investors. According to data from Sam Stovall, chief investment strategist at CFRA Research, August is just one of three months where the S&P 500 has posted an average decline since 1945. February and, perhaps more ominously since it comes next, September are the only two others.
“What makes investors cautious about these months is that they have sported below-average frequencies of price increases, and September is the only month to have fallen more frequently than it has risen, since it has declined an average of 57% of the time,” Stovall wrote in a report.
But before you sell in August if you must (doesn’t have quite the same ring as sell in May and go away) you can take solace from the fact that stocks actually have done well in the Augusts of presidential election years.
Ryan Detrick, chief market strategist at Carson Group, wrote in a blog post Wednesday that “June, July, and August are historically the best three months for investors in an election year and this year has again rewarded them so far.”
The S&P 500 has gone up an average of 2.1% a year in election years dating back to 1928, according to data from Carson and FactSet.
Of course, investors need to focus more on earnings and economic data than the calendar (or politics for that matter) when making decisions about their portfolio.
_______________
Cocktail time
Have a great weekend people GLTA-Ts 🍻
Sorry for the double post GLTA-Ts
Good morning people ,jhd51 All I can say isssss let’s hope the support level at 87 holds up because the next support level on that chart I posted to you is 83’s 🤮 i was hoping for a 90 platform, but +#$5*##& who knows with the COOP/OTIS paper
Have better stock day people GLTA-Ts
Good morning people ,jhd51 All I can say isssss let’s hope the support level at 87 holds up because the next support level on that chart I posted to you is 83’s 🤮 i was hoping for a 90 platform, but +#$5*##& who knows with this COOP/OTIS paper, I stopped playing the momo plays with this in the 39/40 pps range for free shs as it got to expensive for me to be wrong / freeze up my play monies back when I use to play the game ,which these day I do not play that much anymore
Have better stock day people GLTA-Ts
Good people, Well I guess we’ll see if the support in the 87++s holds up or not ,the next support according to those levels I posted yesterday 83++s Yikes lol
Edit
hold on people 🤪86.96 live feed
Have a great day people as it’s to nice outside to be inside GLTA-Ts 😉
jhd51
CURRENT PRICE
89.88, just below support, 91.4 ± 1.28 type single, strength 5
SUPPORT BELOW
-2.3% at 87.8 ± 1.23 type single, strength 3
-6.9% at 83.67 ± 1.17 type triple, strength 7
-9.3% at 81.52 ± 1.14 type single, strength 8
...
RESISTANCE ABOVE
+1.7% at 91.4 ± 1.28 type single, strength 5
GLTA-Ts😉
Good morning people, Well it would seem the pps of COOP has retreaded to where I thought it , imho I believe it might drop closer to lower 90.10/30 If there is any left over from yesterday and move back up (I hope lol)
But wtfdik I sold 55/60 %+/-in the 50’s lol. remember profit is profit, just sometimes lesser profit but profit still 😉
Anyhow GOGOOOOOOCOOP
Have a great day people GLTA-Ts
Good morning people, Well I posted the end of last week I would be happy if we would ended up in the low 90’s this week for a new platform and I believe today will show if we can hold that, there might be a little left over to sell , we shall see I guess sooner than later GLTA
GOGOOOOOCOOP-Ts 😉
.40-42 spreads /94.80’s on deck live feed, Close should be interesting GOGOOOOOCOOP 😉
GLTA-Ts
Good morning people, I believe today and Monday’s trading sessions should be somewhat interesting to watch and see which way COOP-OTIS goes with our PPS.,I would (hope!) we could stay in the very low 90.and establish a new platform for the bouncing ball, Seya at the buzzer,maybe TGIF.Babeeee
GOGOOOOOOCOOP
Have a great day GLTA-Ts
Close 92.54 +5.90 (6.81%) Vol.1,090,806 as of this post
Have a great evening people 😉
GLTA-Ts
There’s a little tug of war near the close ,will put up the closing buzzer live feed 😉
GogoooCoop
ZGLTA-Ts
FYI. Announced acquisition of Flagstar’s mortgage operations, including MSRs and subservicing contracts totaling approximately $356 billion in unpaid principal balance (UPB), for $1.4 billion in cash
July 25 2024 - 7:00AM
Business Wire
Mr. Cooper Group Reports Second Quarter 2024 Results and Announces Acquisition of Mortgage Operations From Flagstar
Reported net income of $204 million including other mark-to-market of $68 million, equivalent to ROCE of 18.1% and operating ROTCE of 15.3%
Book value per share and tangible book value per share increased to $71.24 and $68.67
Servicing portfolio grew 37% y/y to $1,206 billion
Repurchased 0.3 million shares of common stock for $24 million. Board of directors approved additional $200 million for stock repurchase, bringing total authorization to approximately $270 million
GOGOOOOOOCOOP
GLTA-Ts
COOP::::91.24 +4.60 live feed spread now .33
GogoooooCOOP 😉
GLTA-Ts
Split-T, Funny you should mention Maui , My oldest with her son are their now, ,anyhow let’s hope COOP gets to 90’s pps and can hold otherwise it’ll be same ole, same ole COOPER/OTIS
GOGOCoop 😉
GLTA-Ts
After Hours Time (ET) After Hours Price After Hours Share Volume
17:27:41 ///////////////////////////$86.46 /////////////////////194
16:56:47 //////////////////;;/;;;;///$89.44 ////////////////14,428
16:54:32 ////////////////////////////$90///////////////////////////////3
16:53:54 ////////////////////////////$89.95 /////////////////////////5
16:50:59 ////////////////////////////$89///////////////////////////////2
GLTA-Ts
GoGooooooCOOP 😉
Can’t wait for the Q it might be interesting to see which way , GLTA-Ts🤔
Well it seems the pre 1.42 was not that far off from the close😳,now let’s get on to the (IFFEN) I’m sorry but I don’t believe COOP MARKET SHS WOULD BE ISSUED The BOYZZZ ARE GREEDY AND WILL NOT TAKE LESS FOR MORE ,JUST MORE ,but hey that’s just me ,also the last time COOP closed below 80pps was May 2-3 I believe in that ballpark
GoGooooooCOOP
Have a great evening people GLTA-Ts😉
Good morning people, Pre- market numbers for COOP is 1.42+ Yeah I know pre market is sketchy for COOP but still can’t help liking them until The bell goes off 🤔 😏
GoGooooooCOOP
Have a great day people, GLTA-Ts
Good morning people, FYI. Once again ? COOP’s Buy back shs are removed from the float and canceled ,hence supposed to lessen availability to be purchased in the open market, hence harder supposedly to buy which makes the pps higher IFFEN THERE IS NO SELLOFF for whatever bad reason CAUSED BY WHOMEVER IMHO.😉
GoGoooooCOOP GLTA
Have a great day people-Ts
Biz ,
No unless it meets certain criteria’s it’s up to the Parent Co. with its consolidated filings Ks/Qs
GoGooooooCOOP
GLTA-Ts
Nova ->_357 Institutional Holders #s & %
https://www.nasdaq.com/market-activity/stocks/coop/institutional-holdings
Scroll down to
NOTICE THE DATES ON THE NAS. 3/31
—————-
Well it’s the COOP/OTIS kind of day , don’t get me wrong but I do prefer the ride up 😉
GoGooooooCOOP
GLTA-Ts
Newflow The trust (wmitrust.net is already registered. Interested in buying it? Make an Offer) https://who.is/whois/wmitrust.net
GoGoooooCOOP
GLTA-Ts😉