Mr. Cooper Group Inc. (“Mr. Cooper”) announced today that it has completed its acquisition of the investment management firm, Roosevelt Management Company, LLC (“Roosevelt”) and its affiliated subsidiaries. This acquisition, which includes a registered investment advisor and licensed MSR owner, positions Mr. Cooper to move forward with its MSR-related asset management strategy.
Mr. Cooper’s Chairman and CEO Jay Bray commented, “We are happy to welcome the talented Roosevelt team to Mr. Cooper, and we look forward to leveraging their knowledge and expertise as we execute on our asset management strategy.”
Vice Chairman and President Chris Marshall added, “We continue to see significant volumes of MSRs trading in the marketplace with attractive yields. Our asset management strategy is designed to make these yields available to institutional investors, while continuing to grow our customer base and operational scale.”
Wachtell, Lipton, Rosen & Katz acted as legal advisor to Mr. Cooper. Mayer Brown acted as legal advisor to Roosevelt and Houlihan Lokey acted as financial advisor to Roosevelt.
About Mr. Cooper Group
Mr. Cooper Group Inc. (NASDAQ: COOP) provides customer-centric servicing, origination and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands: Mr. Cooper® and Xome®. Mr. Cooper is one of the largest home loan servicers in the country focused on delivering a variety of servicing and lending products, services and technologies.
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Contacts
Media Inquiries:
Christen Reyenga, VP Corporate Communications
MediaRelations@mrcooper.com
Investor Inquiries:
Kenneth Posner, SVP Strategic Planning and Investor Relations
Shareholders@mrcooper.com
