Mr. Cooper Sells Reverse Servicing to Mortgage Assets Management

National Mortgage News, July 6, 2021–Bonnie Sinnock (subscription)
The divestiture of the Champion Mortgage-branded business to Mortgage Assets Management reduces the unpaid principal balance of Mr. Cooper’s servicing portfolio by $16 billion. It also decreases Mr. Cooper’s balance sheet by $5 billion in federally-insured Home Equity Conversion Mortgages and other assets.