Items Tagged with 'MR. COOPER GROUP'

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  • IBM lays off 310 mortgage servicing staff at Seterus

    Layoffs announced days after Mr. Cooper reveals Seterus purchase
    More than 300 employees working for mortgage servicer Seterus in Durham, North Carolina, will be out of a job come March. The news comes just days after Mr. Cooper announced it had purchased Seterus from IBM in a deal expected to close in the first quarter of the year, and coincides with layoffs in Mr. Cooper's origination channel.
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  • Mr. Cooper Group buys IBM's Seterus mortgage servicing platform

    Acquires $48 billion in servicing rights
    Mr. Cooper Group purchased IBM’s Seterus mortgage servicing platform in a deal announced Thursday, which includes $24 billion in GSE mortgages and a subservicing contract for $24 billion. Mr. Cooper Group Chairman and CEO Jay Bray said the deal "is consistent with our outlook for profitability targets and portfolio growth."
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