Mr Cooper Group Inc (COOP)

[JusticeWillWin]

From: https://www.dallasnews.com/business/business/2018/02/13/dallas-nationstar-aka-mr-cooper-acquired-former-wamu-parent-company

[...]
As Mr. Cooper, Nationstar hoped to grow by originating more mortgages, rather than largely servicing delinquent mortgages — a niche business that ballooned during the downturn.

[...]

He said that the changes had yielded $20 billion in new loans originated by Nationstar.

About two years ago, around of the company’s portfolio was in loans that Nationstar had originated or refinanced (as opposed to existing loans that Nationstar bought for cheap from banks). At the time, he said, that was up to about 30 percent.
[...]

Your post:

NSM is primarily a mortgage servicer, they do not generally underwrite loans so their revenue comes mainly from servicing fees.

WAMU was a loan originator and servicer therefore their revenues and profit margins were astronomically higher than those of NSM.

Therefore retained interests in Billions in WAMU loans would be more profitable than NSM's servicing fees for their portfolio.

NSM does not own any portion of the profits from the $500B in loans they service because they do not hold any interests in them.

On average a $200K loan could generate anywhere from $80K-$120K in interest depending on the term of the loan.

$100B in WAMU loans would be way more valuable to WMIH than the $500B NSM currently services if WMI had retained interests in them.

Both business models are absolutely in no way even comparable in terms of scale and returns!!!