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 Markets underestimate risk of inflation re-accelerating, says PIMCO READ MORE Morgan Stanley Warns De-Dollarization Could Spell Trouble for US Stocks READ MORE Economic Enigma: Why Rising Rates Haven't Sunk the US Economy READ MORE Bank of Japan Takes Center Stage in Crucial Week for Global Markets READ MORE FTX Alum Buys Titanic's Gold Watch for Record $1.5 Million READ MORE Add a Comment Cancel replyYour email address will not be published.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