Mr. Cooper says uninsured accounts held in money center, global banks

Mr. Cooper Group made the following disclosures in relation to market events, including the recent closures of national banks: The company’s corporate uninsured cash accounts are held in money center and global investment banks; and client funds are held in insured deposit accounts at a mix of money center and regional banks. Separately, the company disclosed that over the course of Q1 it has increased the target hedge ratio on its MSR hedge position to 75% of the net duration risk in its MSR portfolio from 25% at year-end 2022, "with the goal of mitigating the risk to capital and tangible book value in a declining interest rate environment."