The mortgage industry powerhouse, Mr. Cooper, delivered impressive results for the second quarter of 2023. Net income for the three-month period from April to June was 145 million, a stark increase from the $37 million reported in the first quarter. Results were powered by a jump in total revenue from $722 million to $1.2 billion over the same duration, driven by record loan volumes.
The company continues to focus on technology and innovation, both in the home loan expanding and in the servicing realm. Capital expenditure spending has been focused on customer service and operational excellence, with notable investments and partnerships with some of the industry’s largest players. Through these and other efforts, the company has been able to increase customer satisfaction levels.
Notable highlights:
• Net income for Q2 was $142 million, an increase of 285% versus Q1
• Total revenue rose 68%, from $722 million to $1.2 billion
• Investment in customer service and operational excellence
• Increase in customer satisfaction levels
You can read this full article at: https://www.housingwire.com/articles/mr-cooper-boosts-q2-profits-to-142m-as-servicing-business-grows/(subscription required)
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