# EDGAR Filing Document

**Accession Number:** 0000933136
**File Stem:** 0001171843-25-004624
**Filing Date:** 2025-7
**Character Count:** 22002
**Document Hash:** d7a615d4e357afc36c83e9872980ed7b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001171843-25-004624.hdr.sgml**: 20250723

**ACCESSION NUMBER**: 0001171843-25-004624

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250723

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250723

**DATE AS OF CHANGE**: 20250723

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Mr. Cooper Group Inc.
- **CENTRAL INDEX KEY:** 0000933136
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 911653725
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-14667
- **FILM NUMBER:** 251141597

**BUSINESS ADDRESS:**
- **STREET 1:** 8950 CYPRESS WATERS BLVD.
- **CITY:** COPPELL
- **STATE:** TX
- **ZIP:** 75019
- **BUSINESS PHONE:** 469-549-2000

**MAIL ADDRESS:**
- **STREET 1:** 8950 CYPRESS WATERS BLVD.
- **CITY:** COPPELL
- **STATE:** TX
- **ZIP:** 75019

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WMIH CORP.
- **DATE OF NAME CHANGE:** 20150512

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WMI HOLDINGS CORP.
- **DATE OF NAME CHANGE:** 20120320

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WASHINGTON MUTUAL, INC
- **DATE OF NAME CHANGE:** 20061017

?xml version='1.0' encoding='ASCII'?

### UNITED STATES
**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

### FORM 8-K
**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**<u>July 23, 2025</u>**

**Date of report**

### Mr. Cooper Group Inc.
**(Exact Name of Registrant as Specified in Charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-14667** | **91-1653725** |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |

---

**8950 Cypress Waters Blvd.**

**Coppell, TX 75019**

(Address of Principal Executive Offices, and Zip Code)

**469.549.2000** Registrant's Telephone Number, Including Area Code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

☐ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| **Common Stock, $0.01 par value per share** | **COOP** | **The NASDAQ Stock Market** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

---

| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition.** |

---

On July 23, 2025, Mr. Cooper Group Inc. (the "Company") issued a press release announcing its financial results for the second quarter ended June 30, 2025. A copy of the press release is attached as Exhibit 99.1 and will be published in the Investors section on the Company's website at www.mrcoopergroup.com. In connection with the release, the Company posted a transcript and presentation relating to its second quarter ended June 30, 2025 financial results in the Investors section on the Company's website.

The press release and presentation include certain non-generally accepted accounting principles financial measures. Reconciliations to the most directly comparable generally accepted accounting principles financial measures are included in the press release and the presentation.

The information furnished pursuant to this Item 2.02 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

(d) Exhibits

<u>Exhibit Number</u> <u> Exhibit</u> <br>[99.1](exh_991.htm) [Press release of Mr. Cooper Group Inc., dated July 23, 2025](exh_991.htm)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | Mr. Cooper Group Inc. | Mr. Cooper Group Inc. |
| Date: July 23, 2025 | By |   */s/ Kurt Johnson* |
|  |  | Kurt Johnson |
|  |  | Executive Vice President & Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![](logo.jpg)

FOR IMMEDIATE RELEASE

#### MR. COOPER GROUP REPORTS SECOND QUARTER 2025 RESULTS
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reported net income of$198 million including other mark-to-market of$30 million, equivalent to ROCE
of 15.9% and operating ROTCE of 17.2%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Servicing portfolio grew 25% y/y to $1,509 billion

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Subsequent to quarter-end , launched
MSR Fund with initial $200 million commitment

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Recognized by Great Place to Work as one of the Best Workplaces in Texas

**Dallas, TX (July 23, 2025)** - Mr. Cooper Group Inc. (NASDAQ: COOP) (the "Company"), reported second quarter income before income tax expense of $277 million and net income of $198 million. Excluding other mark-to-market and other adjustments, the Company reported pretax operating income of $269 million. Adjustments included other mark-to-market net of hedges of $30 million and other items shown below in the reconciliation of GAAP and non-GAAP results.

Chairman and CEO Jay Bray commented, "This was another strong quarter, marked by consistent, recurring, and predictable performance, along with higher returns. Our Company is firing on all cylinders and gaining momentum as we move closer to joining forces with Rocket."

President Mike Weinbach added, "I'm incredibly proud of our team's continued excellence in servicing and strong execution in originations. Our robust operations and technology continue to drive efficiencies, deliver exceptional service to customers, and attract new clients. We see compelling opportunities to expand our customer base, and our focus on cost leadership, fee-based revenue growth, and scaling our originations platform positions us to deliver strong, sustainable returns."

<u>**Servicing**</u>

The Servicing segment provides a best-in-class home loan experience for our 6.4 million customers while simultaneously strengthening asset performance for investors. In the second quarter, Servicing recorded pretax income of$364 million, including other mark-to-market of $30 million. The servicing portfolio ended the quarter at $1,509 billion. Servicing generated pretax operating income, excluding other mark-to-market, of $332 million. At quarter end, the carrying value of the MSR was $11,431 million equivalent to 156 bps ofMSR UPB.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| *($ in millions)* | **Q2'25** | **Q2'25** | **Q2'25** | **Q1'25** | **Q1'25** | **Q1'25** |
|  | **$** | $**BPS** | **BPS** | **$** | $**BPS** | **BPS** |
| Operational revenue | $681 |  | 18.1 | $707 |  | 18.5 |
| Amortization, net of accretion | (278) |  | (7.4) | (223) |  | (5.8) |
| Mark-to-market | 31 |  | 0.8 | (81 |  | (2.1) |
| Total revenues | 434 |  | 11.5 | 403 |  | 10.6 |
| Total expenses | (148) |  | (4.0) | (240) |  | (6.3) |
| Total other income, net | 78 |  | 2.1 | 51 |  | 1.3 |
| Income before taxes | 364 |  | 9.6 | 214 |  | 5.6 |
| &nbsp;&nbsp;Other mark-to-market | (30) |  | (0.8) | 82 |  | 2.1 |
| &nbsp;&nbsp;Accounting items | (8) |  | (0.2) | 26 |  | 0.7 |
| &nbsp;&nbsp;Intangible amortization | 6 |  | 0.2 | 10 |  | 0.3 |
| Pretax operating income excluding other mark-to-market and accounting items | $332 |  | 8.8 | $332 |  | 8.7 |

---

---

| | | |
|:---|:---|:---|
|  | **Quarter Ended** | **Quarter Ended** |
|  | **Q2'25** | **Q1'25** |
| MSRs UPB ($B) | $731 | $734 |
| Subservicing and Other UPB ($B) | 778 | 780 |
| Ending UPB ($B) | $1509 | $1514 |
| Average UPB ($B) | $1510 | $1531 |
| 60+ day delinquency rate at period end | 1.4% | 1.5% |
| Annualized CPR | 7.0% | 5.0% |

---

<u>**Originations**</u>

The Originations segment creates servicing assets at attractive margins by acquiring loans through the correspondent channel and refinancing existing loans through the direct-to-consumer channel. Originations earned pretax income of$64 million and pretax operating income of $64 million.

The Company funded 33,051 loans in the second quarter, totaling approximately $9.4 billion UPB, which was comprised of$2.6 billion in direct-to-consumer and $6.8 billion in correspondent. Funded volume increased 14% quarter-over-quarter, while pull through adjusted volume increased 10% quarter-over-quarter to $9.7 billion.

---

| | | |
|:---|:---|:---|
|  | **Quarter Ended** | **Quarter Ended** |
| *($ in millions)* | **Q2'25** | **Q1'25** |
| Income before taxes | $64 | $45 |
| Accounting items |  | 8 |
| Pretax operating income excluding accounting items and other | $64 | $53 |

---

---

| | | |
|:---|:---|:---|
|  | **Quarter Ended** | **Quarter Ended** |
| *($ in millions)* | **Q2'25** | **Q1'25** |
| Total pull through adjusted volume | $9733 | $8842 |
| Funded volume | $9443 | $8319 |
| Refinance recapture percentage | 47% | 51% |
| Recapture percentage | 17% | 19% |
| Purchase volume as a percentage of funded volume | 70% | 72% |

---

<u>**Conference Call Webcast and Investor Presentation**</u>

The Company will release its second quarter 2025 financial results on July 23, 2025 at 7:00 A.M. Eastern Time. The press release, investor presentation, and a recording of prepared remarks will be available under the investors section on Mr. Cooper Group's website, www.mrcoopergroup.com.

#### Non-GAAP Financial Measures
The Company utilizes non-GAAP financial measures as the measures provide additional information to assist investors in understanding and assessing the Company's and our business segments' ongoing performance and financial results, as well as assessing our prospects for future performance. The adjusted operating financial measures facilitate a meaningful analysis and allow more accurate comparisons of our ongoing business operations because they exclude items that may not be indicative of or are unrelated to the Company's and our business segments' core operating performance, and are better measures for assessing trends in our underlying businesses. These notable items are consistent with how management views our businesses. Management uses these non-GAAP financial measures in making financial, operational and planning decisions and evaluating the Company's and our business segment's ongoing performance. Pretax operating income (loss) in the servicing segment eliminates the effects of mark-to-market adjustments which primarily reflects unrealized gains or losses based on the changes in fair value measurements of MSRs and their related financing liabilities for which a fair value accounting election was made. These adjustments, which can be highly volatile and material due to changes in credit markets, are not necessarily reflective of the gains and losses that will ultimately be realized by the Company. Pretax operating income (loss) in each segment also eliminates, as applicable, transition and integration costs, gains (losses) on sales of fixed assets, certain settlement costs that are not considered normal operational matters, intangible amortization, change in equity method investments, fair value change in equity investments and other adjustments based on the facts and circumstances that would provide investors a supplemental means for evaluating the Company's core operating performance. Return on tangible common equity (ROTCE) is computed by dividing net income by average tangible common equity (also known as tangible book value). Tangible common equity equals total stockholders' equity less goodwill and intangible assets. Management believes that ROTCE is a useful financial measure because it measures the performance of a business consistently and enables investors and others to assess the Company's use of equity. Tangible book value is defined as stockholders' equity less goodwill and intangible assets. Our management believes tangible book value is useful to investors because it provides a more accurate measure of the realizable value of shareholder returns, excluding the impact of goodwill and intangible assets.

#### Forward Looking Statements
Any statements in this release that are not historical or current facts are forward looking statements. Forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Results for any specified quarter are not necessarily indicative of the results that may be expected for the full year or any future period. Certain of these risks and uncertainties are described in the "Risk Factors" section of Mr. Cooper Group's most recent annual reports and other required documents as filed with the SEC which are available at the SEC's website at http://www.sec.gov. Mr. Cooper undertakes no obligation to publicly update or revise any forward-looking statement or any other financial information contained herein, and the statements made in this press release are current as of the date of this release only.

Investor Contact:

Kenneth Posner, SVP Strategic Planning and Investor Relations

Shareholders@mrcooper.com

Media Contact:

Christen Reyenga, VP Corporate Communications

MediaRelations@mrcooper.com

**<u>Financial Tables</u>**

**MR. COOPER GROUP INC. AND SUBSIDIARIES**

**UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

(millions of dollars, except for earnings per share data)

---

| | | |
|:---|:---|:---|
|  | Three Months Ended<br> June 30, 2025 | Three Months Ended<br> March 31, 2025 |
| **Revenues:** |  |  |
| &nbsp;&nbsp;Service related, net | $472 | $440 |
| &nbsp;&nbsp;Net gain on mortgage loans held for sale | 136 | 120 |
| Total revenues | 608 | 560 |
| **Total expenses:** | 330 | 430 |
| **Other (expense) income, net:** |  |  |
| &nbsp;&nbsp;Interest income | 217 | 189 |
| &nbsp;&nbsp;Interest expense | (217) | (213) |
| &nbsp;&nbsp;Other expense, net | (1) | (11) |
| Total other expense, net | (1) | (35) |
| Income before income tax expense | 277 | 95 |
| Income tax expense | 79 | 7 |
| Net income | $198 | $88 |
| Earnings per share: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $3.09 | $1.38 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $3.04 | $1.35 |
| Weighted average shares of common stock outstanding (in millions): |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 64.0 | 63.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 65.1 | 65.0 |

---

**MR. COOPER GROUP INC. AND SUBSIDIARIES**

**UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS**

(millions of dollars)

---

| | | |
|:---|:---|:---|
|  | June 30, 2025 | March 31, 2025 |
| **<u>Assets</u>** |  |  |
| Cash and cash equivalents | $783 | $784 |
| Restricted cash | 168 | 166 |
| Mortgage servicing rights at fair value | 11431 | 11345 |
| Advances and other receivables, net | 1124 | 1061 |
| Mortgage loans held for sale at fair value | 2475 | 2603 |
| Property and equipment, net | 72 | 63 |
| Deferred tax assets, net | 149 | 217 |
| Other assets | 2297 | 2207 |
| &nbsp;&nbsp;Total assets | $18499 | $18446 |
| **<u>Liabilities and Stockholders' Equity</u>** |  |  |
| Unsecured senior notes, net | $4902 | $4896 |
| Advance, warehouse and MSR facilities, net | 6161 | 6313 |
| Payables and other liabilities | 1956 | 1949 |
| MSR related liabilities - nonrecourse at fair value | 381 | 398 |
| &nbsp;&nbsp;Total liabilities | 13400 | 13556 |
| Total stockholders' equity | 5099 | 4890 |
| Total liabilities and stockholders' equity | $18499 | $18446 |

---

**UNAUDITED SEGMENT STATEMENT OF** 

**OPERATIONS & EARNINGS RECONCILIATION**

(millions of dollars, except for earnings per share data)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2025 |
|  | Servicing | Originations | Corporate/ Other | Consolidated |
| Service related, net | $426 | $30 | $16 | $472 |
| Net gain on mortgage loans held for sale | 8 | 128 |  | 136 |
| **Total revenues** | 434 | 158 | 16 | 608 |
| **Total expenses** | 148 | 100 | 82 | 330 |
| Other income (expense), net: |  |  |  |  |
| &nbsp;&nbsp;Interest income | 184 | 33 |  | 217 |
| &nbsp;&nbsp;Interest expense | (106) | (30) | (81) | (217) |
| &nbsp;&nbsp;Other expense, net |  | 3 | (4) | (1) |
| Total other income (expense), net | 78 | 6 | (85) | (1) |
| **Pretax income (loss)** | $364 | $64 | $(151) | $277 |
| Income tax expense |  |  |  | 79 |
| Net income |  |  |  | $198 |
| Earnings per share |  |  |  |  |
| &nbsp;&nbsp;Basic |  |  |  | $3.09 |
| &nbsp;&nbsp;Diluted |  |  |  | $3.04 |
| **Non-GAAP Reconciliation:** |  |  |  |  |
| **Pretax income (loss)** | $364 | $64 | $(151) | $277 |
| Other mark-to-market | (30) |  |  | (30) |
| Accounting items / other | (8) |  | 23 | 15 |
| Intangible amortization | 6 |  | 1 | 7 |
| Pretax operating income (loss) | $332 | $64 | $(127) | $269 |
| Income tax expense<sup>(1)</sup> |  |  |  | (65) |
| Operating income |  |  |  | $204 |
| Operating ROTCE<sup>(2)</sup> |  |  |  | 17.2% |
| Average tangible book value (TBV)<sup>(3)</sup> |  |  |  | $4749 |

---

 

<sup>(1)</sup> Assumes tax-rate of 24.2%.

<sup>(2)</sup> Computed by dividing annualized earnings by average TBV.

<sup>(3)</sup> Average of beginning TBV of $4,641 and ending TBV of $4,857.

 

****

**UNAUDITED SEGMENT STATEMENT OF** 

**OPERATIONS & EARNINGS RECONCILIATION**

(millions of dollars, except for earnings per share data)

 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2025 |
|  | Servicing | Originations | Corporate/ Other | Consolidated |
| Service related, net | $397 | $26 | $17 | $440 |
| Net gain on mortgage loans held for sale | 6 | 114 |  | 120 |
| **Total revenues** | 403 | 140 | 17 | 560 |
| **Total expenses** | 240 | 95 | 95 | 430 |
| Other income (expense), net: |  |  |  |  |
| &nbsp;&nbsp;Interest income | 157 | 29 | 3 | 189 |
| &nbsp;&nbsp;Interest expense | (106) | (26) | (81) | (213) |
| &nbsp;&nbsp;Other expense, net |  | (3) | (8) | (11) |
| Total other income (expense), net | 51 |  | (86) | (35) |
| **Pretax income (loss)** | $214 | $45 | $(164) | $95 |
| Income tax expense |  |  |  | 7 |
| Net income |  |  |  | $88 |
| Earnings per share |  |  |  |  |
| &nbsp;&nbsp;Basic |  |  |  | $1.38 |
| &nbsp;&nbsp;Diluted |  |  |  | $1.35 |
| **Non-GAAP Reconciliation:** |  |  |  |  |
| **Pretax income (loss)** | $214 | $45 | $(164) | $95 |
| Other mark-to-market | 82 |  |  | 82 |
| Accounting items / other | 26 | 8 | 34 | 68 |
| Intangible amortization | 10 |  |  | 10 |
| Pretax operating income (loss) | $332 | $53 | $(130) | $255 |
| Income tax expense |  |  |  | (62) |
| Operating income<sup>(1)</sup> |  |  |  | $193 |
| Operating ROTCE<sup>(2)</sup> |  |  |  | 16.8% |
| Average tangible book value (TBV)<sup>(3)</sup> |  |  |  | $4597 |

---

 

<sup>(1)</sup> Assumes tax-rate of 24.2%.

<sup>(2)</sup> Computed by dividing annualized earnings by average TBV.

<sup>(3)</sup> Average of beginning TBV of $4,553 and ending TBV of $4,641.

---

| | | |
|:---|:---|:---|
| **Non-GAAP Reconciliation:** | **Quarter Ended** | **Quarter Ended** |
| *($ in millions except value per share data)* | **Q2'25** | **Q1'25** |
| **Stockholders' equity (BV)** | $5099 | $4890 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | (141) | (141) |
| &nbsp;&nbsp;&nbsp;&nbsp;Intangible assets | (101) | (108) |
| **Tangible book value (TBV)** | $4857 | $4641 |
| Ending shares of common stock outstanding (*in millions*) | 64.0 | 64.0 |
| BV/share | $79.68 | $76.43 |
| TBV/share | $75.90 | $72.53 |
| Net income | $198 | $88 |
| ROCE<sup>(1)</sup> | 15.9% | 7.3% |
| Beginning stockholders' equity | $4890 | $4813 |
| Ending stockholders' equity | $5099 | $4890 |
| Average stockholders' equity (BV) | $4995 | $4852 |

---

<sup>(1)</sup> Return on Common Equity (ROCE) is computed by dividing annualized earnings by average BV.