After laying off about 700 employees earlier this year, Coppell-based mortgage company Mr. Cooper Group Inc. has announced another round of layoffs, cutting...
Jay Bray is CEO of Coppell-based Mr. Cooper Group, formerly Nationstar Mortgage.After laying off about 700 employees earlier this year, Coppell-based mortgage company Mr. Cooper Group Inc. has announced another round of layoffs, cutting about 800 more jobs.
“In the face of market volatility and economic uncertainty, Mr. Cooper Group has taken a disciplined and proactive step to scale back the originations business, including the elimination of approximately 800 positions,” the company said in a statement provided to the trade publications.Coppell-based Mr. Cooper laid off 420 staff members in the second quarter and 250 in the first quarter, mostly employees who worked in originations,Mr.
The company’s board also approved an additional share buyback of up to $200 million, announced Oct. 26. The company bought back 1.1 million shares during the third quarter for $50 million.for a 30-year fixed-rate home loan for the first time in two decades. Rates have more than doubled over the past year.
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