Mr. Cooper Group’s net income for the second quarter is $439 million which shows the grow for more than 56%. However, there is not only grow for the income, but for the stock during the month. The stock increased from $32.50 on July 19 till $38.48 on August 3. Also, the grow of the stock is accompanied by the high volatility.
According to the results for the second quarter, the generated pretax operating profit from continuing operations is $227 million. The Book value foe every share grew till $38.89 and the tangible book value per share jump till $37.24. The portfolio of the servicing increased for more than 4% and became $654 billion.
Jay Bray, CEO said that they conclude the second quarter not only with the high operating return, but also with the strong strategic steps, such as sale of the Title365 and Reverse. With the help of these moves, the company will be able to rationalize and simplify some of the business models and power the balance sheet.