Mr. Cooper Group today announced it has entered into a definitive agreement to sell its Xome Field Services unit to Cyprexx Services. The sale is expected to close during the fourth quarter of 2021, subject to customary conditions. The terms of the transaction have not been disclosed, however, according to a press release, Mr. Cooper does not view the financial impact as significant.
"This transaction is consistent with our strategic focus on mortgage originations and servicing, where we see exciting growth opportunities," said Jay Bray, Chairman and CEO of Mr. Cooper. "We thank all of our team members in the Field Services unit for their hard work and strong results and look forward to a smooth transition to Cyprexx."
Mr. Cooper Group provides quality servicing, origination and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands, Mr. Cooper and Xome. Mr. Cooper is a large organization of loan servicers focused on delivering a variety of servicing and lending products, services and technologies.