In connection with a contemplated financing transaction, Mr. Cooper Group Inc. (the ?Company?) disclosed the following preliminary results for 4Q?23.
* Pretax income was $69 million and pretax operating income was $151 million, which excludes $27 million in one-time charges related to our previously disclosed cyber incident and other adjustments
* Book value per share and tangible book value per share increased to $66.29 and $63.67
* The Company incurred a mark-to-market loss of $41 million on the MSR portfolio, net of hedge gains, equivalent to a realized hedge ratio of 81%
* Servicing portfolio grew to $992 billion and including pending transactions is expected to reach $1.1 trillion in first quarter
* Servicing generated pretax income of $184 million and pretax operating income of $229 million
* Originations generated pretax income of $9 million and pretax operating income of $10 million on $2.7 billion in fundings
* The Company ended the quarter with TNW/assets of 29% and available liquidity of $2.4 billion, consisting of $572 million in unrestricted cash and $1.85 billion in unused lines
* MSR 60+ day delinquencies continued to decline, reaching the lowest level in our history as a public company, 1.3% as of December 31, 2023