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New York Community Bancorp Subsidiary Flagstar Bank Agreed To Sell Its Residential Mortgage Servicing Business To Mr. Cooper For $1.4B; Transaction To Close By Q4

Author: Benzinga Newsdesk | July 25, 2024 07:06am

Flagstar Bank, N.A. (the "Bank"), the bank subsidiary of New York Community Bancorp, Inc. (NYSE:NYCB) (the "Company") announced today that, it entered into a definitive agreement to sell its residential mortgage servicing business, including mortgage servicing rights and the third-party origination platform to Mr. Cooper (NASDAQ:COOP), a leading non-bank mortgage originator and servicer for approximately $1.4 billion. The transaction is expected to close during the fourth quarter of 2024.

Posted In: COOP NYCB


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