Dec 05 2024 21 mins 3
This week on the Power House podcast, Diego sits down with Jay Bray, the CEO of Mr. Cooper. Jay joined Nationstar in 2000 and brings over 25 years of mortgage serving and origination experience. They discuss Mr. Cooper’s growth and acquisition strategy, specifically the Flagstar acquisition, which brought Mr. Cooper's servicing book up to $1.5 trillion from $1.2 trillion at the end of Q3.
They also talk about finding a sustainable balance between their servicing and origination business, how banning trigger leads would — or rather, wouldn't — affect their business, and what AI advancements they’re looking at as we head into 2025.
Here's what you'll learn:
- Mr. Cooper’s servicing business has performed well in a rising rate environment.
- Flagstar's acquisition brought Mr. Cooper's servicing portfolio up to $1.5 trillion.
- AI is enabling revenue growth without increasing headcount.
- Long-term customer relationships will mitigate potential trigger lead bans.
- The industry needs to be ready for higher rates, for longer.
- The future of our business is all about enhancing customer experience.
Related to this episode:
- Mr. Cooper to acquire Flagstar's servicing and TPO businesses for $1.4B in cash | HousingWire
- Mr. Cooper
- Jay Bray | Mr. Cooper Group
- Jay Bray | LinkedIn
- HousingWire | YouTube
Enjoy the episode!
The Power House podcast brings the biggest names in housing to answer hard-hitting questions about industry trends, operational and growth strategy, and leadership. Join HousingWire president Diego Sanchez every Thursday morning for candid conversations with industry leaders to learn how they’re differentiating themselves from the competition. Hosted and produced by the HousingWire Content Studio.
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