Rushmore Loan Management Services entered into a definitive agreement to sell its residential mortgage servicing platform, which includes approximately 250,000 customers with a total of approximately $37B in unpaid principal balance to Mr. Cooper Group. The transaction follows Mr. Cooper’s agreement to acquire Roosevelt Management Company, Rushmore’s parent company, to serve as the platform for its mortgage servicing rights fund asset management strategy. Both transactions are expected to close by mid-year 2023, subject to various regulatory approvals and other customary closing conditions.
Published first on TheFly
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