04:56 PM EDT, 11/01/2024 (MT Newswires) -- 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 ( COOP ) said.

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

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

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