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Cyprexx Execs Comment on Xome Field Services Deal

Earlier this week, Cyprexx Services announced that it had entered into a definitive agreement to purchase Xome Field Services.

The sale is expected to close during Q4 2021, subject to customary conditions. The terms of the transaction have not been disclosed.

According to a statement from Cyprexx, the combination of Xome and Cyprexx will add "a tremendous amount of scale to Cyprexx’s proven operational capabilities and business model," adding that "Cyprexx has always been focused on exceptional performance, quality, and communication, and is looking forward to the opportunity of working with Mr. Cooper and Xome’s current clients."

Ed Mullen

Ed Mullen

Ed Mullen, CEO, Cyprexx, stated, “We envision the united companies will provide Cyprexx with the ability to expand our footprint, create greater efficiencies, and utilize our core competencies to better serve existing and new clients."

“We welcome the incoming Xome team members to the Cyprexx family and look forward to a bright future,”  said Ronnie Ory, Founder and Chairman of the Board for Cyprexx.

At the time of the original announcement, Jay Bray, Chairman and CEO of Mr. Cooper, parent company of Xome, said, "This transaction is consistent with our strategic focus on mortgage originations and servicing, where we see exciting growth opportunities. 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."

For an expanded, exclusive interview with Mullen about the deal and its implications, check out the upcoming November edition of DS News magazine.

About Author: David Wharton

David Wharton, Editor-in-Chief at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has nearly 20 years' experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. He can be reached at [email protected].

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