Three Months Ended June 30, 2024 
                  ----------------------------------------------------------------- 
                                                     Corporate/ 
                    Servicing      Originations        Other         Consolidated 
                  -------------  ----------------  --------------  ---------------- 
 
Service related, 
 net                $   446        $     19          $     20        $     485 
Net gain on 
 mortgage loans 
 held for sale           10              88                --               98 
                  ---  ----      ---  -----  ----  ---  -----      ---  ------  --- 
Total revenues          456             107                20              583 
                  ---  ----      ---  -----  ----  ---  -----      ---  ------  --- 
Total expenses          171              69                60              300 
Other income 
(expense), net: 
   Interest 
    income              174              15                --              189 
   Interest 
    expense            (105)            (15)              (67)            (187) 
   Other 
    expense, 
    net                  --              --                (8)              (8) 
                  ---  ----      ---  -----  ----  ---  -----      ---  ------ 
Total other 
 income 
 (expense), net          69              --               (75)              (6) 
                  ---  ----      ---  -----  ----  ---  -----      ---  ------ 
Pretax income 
 (loss)             $   354        $     38          $   (115)       $     277 
                  ===  ====      ===  =====  ====  ===  ===== 
Income tax 
 expense                                                                    73 
                                                                   ---  ------  --- 
Net income                                                           $     204 
                                                                   ===  ======  === 
Earnings per 
share 
   Basic                                                             $    3.16 
                                                                   ===  ======  === 
   Diluted                                                           $    3.10 
                                                                   ===  ======  === 
 
Non-GAAP 
Reconciliation: 
---------------- 
Pretax income 
 (loss)             $   354        $     38          $   (115)       $     277 
Other 
 mark-to-market         (68)             --                --              (68) 
Accounting items 
 / other                 --              --                 8                8 
Intangible 
 amortization             2              --                --                2 
                  ---  ----      ---  -----  ----  ---  -----      ---  ------  --- 
Pretax operating 
 income (loss)      $   288        $     38          $   (107)       $     219 
                  ===  ====      ===  =====  ====  ===  ===== 
Income tax 
 expense                                                                   (53) 
                                                                   ---  ------ 
Operating 
 income(1)                                                           $     166 
                                                                   ===  ======  === 
Operating 
 ROTCE(2)                                                                 15.3% 
                                                                   ===  ====== 
Average tangible 
 book value 
 (TBV)(3)                                                            $   4,333 
 
 
(1)                    Assumes tax-rate of 24.2%. 
(2)     Computed by dividing annualized earnings by average TBV. 
(3)   Average of beginning TBV of $4,238 and ending TBV of $4,428. 
 
 
Non-GAAP Reconciliation:                              Quarter Ended 
------------------------------------------------  ---------------------- 
($ in millions except value per share data)         Q3'24       Q2'24 
                                                  ----------  ---------- 
Stockholders' equity $(BV)$                         $4,638      $4,594 
    Goodwill                                        (141)       (141) 
    Intangible assets                                (23)        (25) 
                                                   -----       ----- 
Tangible book value (TBV)                         $4,474      $4,428 
                                                   =====       ===== 
Ending shares of common stock outstanding (in 
 millions)                                          64.0        64.5 
 
BV/share                                          $72.49      $71.24 
TBV/share                                         $69.93      $68.67 
 
Net income                                        $   80      $  204 
                                                   -----       ----- 
ROCE(1)                                              6.9%       18.1% 
 
Beginning stockholders' equity                    $4,594      $4,405 
Ending stockholders' equity                       $4,638      $4,594 
                                                   -----       ----- 
Average stockholders' equity (BV)                 $4,616      $4,500 
 
 
(1)   Return on Common Equity (ROCE) is computed by dividing annualized 
      earnings by average BV. 
 

View source version on businesswire.com: https://www.businesswire.com/news/home/20241023604090/en/

 
    CONTACT:    Investor Contact: 

Kenneth Posner, SVP Strategic Planning and Investor Relations

(469) 426-3633

Shareholders@mrcooper.com

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(END) Dow Jones Newswires

October 23, 2024 07:00 ET (11:00 GMT)