Mr. Cooper Group (COOP) said Friday it has completed the acquisition of Flagstar's mortgage operations.

The deal included the acquisition of MSRs, advances, sub-servicing contracts, and Flagstar's third-party origination platform for about $1.3 billion in cash, Mr. Cooper said.

Chief Executive Jay Bray said the company plans to fully integrate Flagstar's operations onto Mr. Cooper's platform by early 2025.

Shares of Mr. Cooper Group were down 4% in after-hours trading.

Price: 85.00, Change: -3.55, Percent Change: -4.01