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(State or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or
Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any
new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Item 7.01
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Regulation FD Disclosure.
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Item 9.01.
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Financial Statements and Exhibits.
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Exhibit
Number
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Description |
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99.1 |
Press Release |
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104 |
The cover page from this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101) |
Mr. Cooper Group Inc.
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Date: July 6, 2021
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By:
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/s/ Christopher G. Marshall
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Christopher G. Marshall
Vice Chairman, President & Chief Financial Officer
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DALLAS--(BUSINESS WIRE)--July 6, 2021--Mr. Cooper Group Inc. (“Mr. Cooper”) announced today that it has completed the sale of Title365 to Blend Labs, Inc. on June 30, 2021, for $500 million, consisting of $450 million in cash and a retained interest of 9.9 percent. Consistent with previously disclosed expectations, Mr. Cooper received cash proceeds of approximately $450 million and recorded an after-tax gain of approximately $350 million.
“This sale and our ability to swiftly and smoothly close this transaction reinforces our commitment to growth and profitability, and is another step we are taking to transform Mr. Cooper into the leading non-bank mortgage company,” commented Chairman and CEO Jay Bray.
“Additionally, this transaction adds meaningfully to our tangible book value and liquidity, which puts us in an excellent position to accelerate both growth in our businesses and drive significant incremental shareholder value.”
Wachtell, Lipton, Rosen & Katz acted as legal advisor to Mr. Cooper Group and Houlihan Lokey acted as financial advisor to Mr. Cooper Group.
About Mr. Cooper Group
Mr. Cooper Group Inc. (NASDAQ: COOP) provides quality 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. For more information, visit www.mrcoopergroup.com.
Investor Contact:
Kenneth Posner, SVP Strategic Planning and Investor Relations
(469) 426-3633
Shareholders@mrcooper.com
Media Contact:
Christen Reyenga, VP Corporate Communications
MediaRelations@mrcooper.com
Document and Entity Information |
Jun. 30, 2021 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2021 |
Entity Registrant Name | Mr. Cooper Group Inc. |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 001-14667 |
Entity Tax Identification Number | 91-1653725 |
Entity Address, Address Line One | 8950 Cypress Waters Blvd. |
Entity Address, City or Town | Coppell |
Entity Address, State or Province | TX |
Entity Address, Postal Zip Code | 75019 |
City Area Code | 469 |
Local Phone Number | 549-2000 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Entity Emerging Growth Company | false |
Entity Central Index Key | 0000933136 |
Title of 12(b) Security | Common Stock, $0.01 par value per share |
Trading Symbol | COOP |
Security Exchange Name | NASDAQ |
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