|
|
|
|
|
(State or Other Jurisdiction
of Incorporation)
|
|
(Commission
File Number)
|
|
(I.R.S. Employer
Identification No.)
|
|
Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Securities registered pursuant to Section 12(b) of the Act:
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
|
|
|
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. ☐
|
•
|
Last week, the Company completed its actions to realign capacity in the Originations segment, consistent with reduced customer demand in a higher mortgage-rate environment. These actions resulted in the
elimination of approximately 800 positions.
|
•
|
During the fourth quarter, the Company expects to incur a charge of approximately $20 million for the reductions in force in the Originations segment and for other efficiency initiatives across the
organization.
|
•
|
Additionally, the Company clarified its outlook for servicing pretax operating income: after ramping to $140 million in the fourth quarter, servicing pretax operating income is expected to total between
$550 and $600 million during 2023, assuming no change in current mortgage rates.
|
Exhibit
Number |
|
Description
|
|
Mr. Cooper Group Inc.
|
|||
Date: November 7, 2022 |
|||
|
By:
|
/s/ Jaime Gow
|
|
|
Jaime Gow
Executive Vice President & Chief Financial Officer
|