Replies to post #654387 on Mr Cooper Group Inc (COOP)

[BBANBOB]

RD

I said when I first looked into NSM that something was really strange about it.

2012 they (NSM) started with 10 bill$$$$$ in servicing funds, YET THEN ONLY 8-9 years later they held some 641 BILL in servicing assets!!!!!!

Now if ya take the 10 bill away you have DAMNED NEAR what congress said we had in the way of LOANS when we were seized, 635 bill $$$

I said then this DIDN'T ADD up or everyone and their dog would be going into the servicing business if IF IF you could grow by 631 BILL in 8-9 years.

Also if IF IF one remembers when DB finally let go of the 65 bill they had previous held of WAMU'S stuff, THAT COOP a short time later BOOKED HMMMMMMMMMM 65 bill in assets

COOP may very well ALREADY HOLD/SERVICE/BOARD OLD legacy assets as YOU SUGGEST, but they ONLY BOARD or SERVICE imho , but in NO WAY OWN THOSE ASSETs.

And also imho the only VALUE that COOP will derive from those would be servicing FEES!!!!!!!!!!!!!!!!!!!

But what the heck what is a half percent of 641 Bill??????????????

[Planet Paprika]

Royal Dude, Bbanbob

"As of December 31, 2020, we served approximately 3.5 million customers with an aggregate unpaid principal balance (“UPB”) of approximately $626 billion, consisting of approximately $271 billion in forward loans, $337 billion in subservicing and other, and $18 billion in reverse mortgage loans. According to Inside Mortgage Finance, we were the largest non-bank servicer and third largest residential mortgage servicer in the United States in the fourth quarter of 2020. During 2020, we boarded $217 billion UPB of loans, with $142 billion of UPB related to subservicing."

vs. Nationstar 10-K / 2012 :

In January 2013, Nationstar announced the acquisition of approximately
$215 billion of servicing rights from Bank of America. Taking into account
this transaction, Nationstar’s total servicing portfolio is $423 billion, consisting of 2.5 million customers. This transaction further solidifies Nationstar as
a leading mortgage servicer in the market.
We expect the pipeline of servicing opportunities to remain elevated
as the secular shift in servicing assets continues.
Our bulk acquisition pipeline at year-end was over $300 billion of UPB plus annual flow servicing from strategic partners targeted at $25–50 billion.


https://s1.q4cdn.com/275823140/files/doc_financials/2012/ar/2012-Annual-Report-NSM.pdf