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 Middle East Tensions Stir Global Economic Concerns as Oil Prices Climb READ MORE Credit Card Debt: America's $1.13 Trillion Problem READ MORE Money vs. Currency: The Great Gold & Silver Rush READ MORE Fed's Schmid Advocates Caution as Inflation Nears Target READ MORE Major Win for Consumers: Credit Card Late Fees Reduced by CFPB Ruling READ MORE Add a Comment Cancel replyYour email address will not be published.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