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 OPEC Slashes Oil Demand Growth Outlook for 2024 and 2025 READ MORE What Pops THE BUBBLE CENTURY? READ MORE South African Platinum Industry Could Face 'Irreversible Decline' READ MORE Gold's Rise: LBMA London Gold Price Sets New Record as Year Ends READ MORE Fed's Goolsbee Signals Readiness for Rate Cuts as Inflation Eases READ MORE Add a Comment Cancel replyYour email address will not be published.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