The VA ended VASP and promised a bridge, but left the rope dangling over a canyon. It’s time for a real audit of how these servicers strip the equity and benefits from the people who earned them. #VAVeterans #ForeclosureCrisis #BenefitStripping #EquityStripping #MrCooper #VASP

What is it with imbalance of corporate/ customer relationships? How much money does a mortgage co make out of their customers over a lifetime yet they can’t answer the phone without useless AI? #Mrcooper

Anyone else who had Mr. Cooper not able to log in after the conversion to Rocket Mortgage?

#mrcooper #kablam

Rocket to Buy Mortgage Firm Mr. Cooper in $9.4 Billion Deal In the span of just three weeks, Rocket Cos. has thrown around more than $11 billion in a bid to reshape the way Americans buy, sell and finance their homes.

www.bloomberg.com/news/article...

Literally months after having one of your mortgages sold to #MrCooper, #RocketMortgage announces this purchase. One day, when it's paid off, we won't have to worry about this crap. They seem to trade mortgages like baseball cards. Multiple transfers over time.

Stocks to Watch Monday: Mr. Cooper, Nvidia, Newsmax, Moderna - The Wall Street Journal Stocks to Watch Monday: Mr. Cooper, Nvidia, Newsmax, Moderna  The Wall Street Journal

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Mortgage company Rocket buying Mr. Cooper in all-stock deal valued at $9.4 billion The mortgage company Rocket is buying competitor Mr. Cooper in an all-stock deal valued at $9.4 billion, just weeks after acquiring real estate listing company Redfin. Rocket Cos. said Monday that bringing Mr. Cooper Group Inc. into the fold will create a business representing one in every six mortgages in the United States and give it almost 7 million additional clients. The deal will boost loan volumes, the company said, while lowering client acquisition costs. “By combining Mr. Cooper and Rocket, we will form the strongest mortgage company in the industry, offering an end-to-end homeownership experience backed by leading technology and grounded in customer care," Mr. Cooper Chairman and CEO Jay Bray, who will become president and CEO of Rocket Mortgage, said in a statement. The U.S. housing market has been slumping for years with homebuyers, and sellers, buffeted by soaring mortgages rates and sky high prices that have put homes out of reach for many Americans. Companies like Rocket, which is on an acquisition streak, are attempting to create more of a one-stop shopping experience for frazzled would-be homebuyers. Bray will report to Rocket Cos. CEO Varun Krishna. Mr. Cooper shareholders will receive a fixed exchange ratio of 11 Rocket shares for each share of Mr. Cooper common stock. Mr. Cooper is based in Coppell, Texas. Rocket shareholders will own approximately 75% of the combined company, while Mr. Cooper stockholders will own about 25%. The combined company's board will have 11 members, with nine being from Rocket and two from Mr. Cooper. Earlier this month Rocket, based in Detroit, announced that it was buying Redfin in an all-stock deal worth $1.75 billion. Redfin, which was founded in 2004, has more than 1 million for sale and rental listings on its online platform. The National Association of Realtors announced this month that existing home sales rose 4.2% in February from January to a seasonally adjusted annual rate of 4.26 million units. That was in part thanks to easing mortgage rates and more properties on the market encouraging home shoppers. The U.S. housing sales began to slump in 2022, when mortgage rates began to climb from pandemic-era lows. Sales of previously occupied U.S. homes fell last year to their lowest level in nearly 30 years. This article originally appeared on Associated Press: Mortgage company Rocket buying Mr. Cooper in all-stock deal valued at $9.4 billion

Mortgage company Rocket buying Mr. Cooper in all-stock deal valued at $9.4 billion #Mortgage #RocketMortgage #MrCooper

Fitch reviews Rocket Mortgage and Mr. Cooper ratings after acquisition news Investing.com -- Fitch Ratings has put Rocket Mortgage, LLC’s ’BBB-’ Long-Term Issuer Default Rating (IDR) and senior unsecured debt rating under negative watch. Mr. Cooper Group, Inc. and its subsidiaries, Nationstar Mortgage Holdings Inc. and Nationstar Mortgage LLC, with their ’BB’ Long-Term IDRs and senior unsecured debt rating of Nationstar Mortgage Holdings Inc., have been placed under positive watch. These actions follow the announcement by Rocket Companies, Inc., parent of Rocket Mortgage, of its plans to acquire Mr. Cooper and its subsidiaries through an all-stock transaction. When the acquisition is finalized, Fitch anticipates aligning Rocket Mortgage’s and Mr. Cooper’s ratings with Rocket’s consolidated credit profile. This may lead to a one-notch downgrade for Rocket Mortgage and a one- to two-notch upgrade for Mr. Cooper. Fitch plans to resolve the Rating Watches once the acquisition is completed, which is expected around the end of 2025, more than six months from the date of this rating action commentary. Rocket Mortgage’s possible downgrade is mainly due to the expected increase in the parent company’s corporate leverage following the acquisitions of Mr. Cooper and Redfin (NASDAQ:RDFN). Corporate leverage is projected to rise to 1.4x, up from 0.6x at the end of 2024. On the other hand, Fitch expects to upgrade Mr. Cooper by one or two notches after the acquisition, reflecting its stronger business profile and lower leverage prior to the acquisition. Rocket’s consolidated credit profile will reflect its strong market position and leading mortgage franchise in the U.S. The company will combine its significant scale in mortgage origination with Mr. Cooper’s leading scale in mortgage servicing. However, the ratings are limited by the highly cyclical nature of the mortgage origination business, anticipated increase in corporate leverage due to the transaction, and potential servicing advance needs and regulatory scrutiny related to Ginnie Mae (GNMA) loans. Rocket’s pre-tax return on average assets (ROAA) was 3.4% in fiscal 2024, and Mr. Cooper’s profitability has been even more stable, with ROAA of 5.8% in fiscal 2024 and averaging 8.5% from 2021-2024. After the acquisition, Rocket’s corporate leverage is expected to exceed Fitch’s prior downgrade trigger for Rocket Mortgage of 1.0x. Total leverage, including funding facilities, will also be higher on a pro forma basis, estimated to be 2.3x at the end of 2024, compared to 1.4x for Rocket Mortgage before the acquisitions. Fitch considers both companies’ liquidity profiles strong. Pro forma, Rocket’s available liquidity would include $1.8 billion in cash, $1.6 billion in unencumbered self-funded mortgage loans, $1.15 billion in borrowing capacity on Rocket Mortgage’s committed revolving credit facility, and $4.6 billion in capacity on combined MSR secured lines of credit. The senior unsecured debt ratings of Rocket Mortgage and Mr. Cooper and its subsidiaries are equalized with their Long-Term IDRs given significant unencumbered assets are available to senior noteholders, partially offset by Rocket’s ability to incur secured debt in a priority position, which suggests average recovery prospects in a stressed scenario. Following the acquisition, the ratings of Rocket Mortgage LLC, Mr. Cooper Group, Inc., and its subsidiaries Nationstar Mortgage Holdings Inc. and Nationstar Mortgage LLC are expected to be equalized with those of the parent, Rocket, given they will be wholly owned subsidiaries and obligations will benefit from cross-guarantees. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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One of their brokers just called me on a Friday evening. Tried to sell me a home equity line then yelled at me when I asked will this be a hard search in my credit or are you basing this off home current value & what’s owed. THEY CALLED ME
NFW #MrCooper 😡

Our biggest hurdle with #HeleneRecovery continues to be
#MrCooper.

They've had our $100K+ endorsed insurance claim check for 3 weeks and have only released 8% despite 50%+ of work being completed (out of pocket).

It's been impossible to get an inspection for more to be released.

Unacceptable.

If these people are out here hacking Mr. Cooper ima need them to pay off my mortgage. #Hack #MrCooper #Mortgage

#mrcooper got cyber attacked and locked down everything including the systems to make mortgage payments. Millions of people cannot pay their fucking mortgage right now!