NYCB Sheds Mortgage Servicing Arm in $1.4B Deal with Mr. Cooper New York Community Bank (NYCB) is selling its residential mortgage servicing business, including mortgage servicing rights and third-party origination platform, to Mr. Cooper for $1.4 billion. This move, announced alongside a $323 million second-quarter loss, is part of NYCB’s strategy to transform into a “relationship-focused regional bank,” according to CEO Joseph Otting. The sale, expected to close in the fourth quarter, suggests NYCB may be planning further divestitures as it refocuses its business model. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Credit Card Debt Climbs: 56 Million Americans in Prolonged Debt Amid Economic Pressures READ MORE Jobless Claims Drop Unexpectedly, Signaling Resilient Labor Market READ MORE Consumer Spending Defies Inflation Fears, Jumps 0.7% in March READ MORE Investors Eye Fed Minutes for Gold Price Guidance, as Precious Metal Surpasses $2,000 Mark READ MORE Morgan Stanley Forecasts Gold Price to $2,600 READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment