Former Washington Mutual Parent Company Acquires Mr. Cooper

May 31, 2021 0 Comments

first_imgHome / Featured / Former Washington Mutual Parent Company Acquires Mr. Cooper Nationstar Mortgage, the Coppell, Texas-based mortgage servicing company that recently rebranded itself as Mr. Cooper in an effort to grow out of a niche closely associated with the Great Recession, is merging with the holding company that formerly owned Washington Mutual Bank, the companies announced.Nationstar shareholders will get $1.2 billion in cash from Seattle-based WMIH Corp. and $702 million in shares of the new combined company, whose shares will be traded on NASDAQ under the ticker symbol WMIH.A news release said that Nationstar—which has about 7,000 employees, including about 4,000 in Dallas-Fort Worth—will continue its operations “as normal.” Nationstar’s senior leadership team will head the combined company, which will still be known as Nationstar Mortgage and keep its headquarters.WMIH Corp. was formerly Washington Mutual Inc., the parent of Washington Mutual Bank. But Washington Mutual was seized by the Office of Thrift Supervision in 2008, and the bank-holding company filed for bankruptcy.In 2012, WMIH Corp emerged from bankruptcy and has essentially been laying low since then, running a “legacy reinsurance business operating in runoff mode.”But recently, it has been looking for acquisitions, primarily focusing on the “financial institutions sector.”Nationstar, WMIH’s executives said, fit the bill.“Nationstar aligns perfectly with our acquisition strategy and has a strong track record of providing mortgage servicing and loan and real estate offerings in various market conditions,” said Bill Gallagher, CEO of WMIH, in a statement.Gallagher said that Nationstar is good at mortgage servicing “in various market conditions,” while WMIH will be able to infuse Nationstar’s operations with cash.The merger comes several months after Nationstar made official its long-gestating rebrand to “Mr. Cooper,” a change that executives told The Dallas Morning News was aimed at making the mortgage business more approachable.As Mr. Cooper, Nationstar hoped to grow by originating more mortgages, rather than largely servicing delinquent mortgages—a niche business that ballooned during the downturn.Now that the country’s housing market is on a hot streak, Nationstar has tried to capitalize.In August, Nationstar’s CEO, Jay Bray, said the company spent more than $90 million in upgrading its operating and consumer technology and spent 50,000 hours training employees.He said that the changes had yielded $20 billion in new loans originated by Nationstar.About two years ago, around 20 percent of the company’s portfolio was in loans that Nationstar had originated or refinanced (as opposed to existing loans that Nationstar bought for cheap from banks). At the time, he said, that was up to about 30 percent.“I am passionately committed to continuing and accelerating our growth and investment as a leader in our industry, leveraging our best-in-class integrated servicing and originations platform,” Bray said in a statement on Tuesday. in Featured, Headlines, Journal, News, Secondary Market, Servicing February 19, 2018 4,291 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Former Washington Mutual Parent Company Acquires Mr. Cooper Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Subscribe The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: CoreLogic Announces New Addition to Government Affairs Team Next: Black Knight Announces Pricing of Secondary Common Stock Offering Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Company News mortgage mortgage servicing Mr. Cooper Nationstar Washington Mutual 2018-02-19 David Wharton The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: David Wharton Related Articles Tagged with: Company News mortgage mortgage servicing Mr. Cooper Nationstar Washington Mutuallast_img read more

Deer Isle-Stonington girls primed for big year again in 2018-19

September 20, 2020 0 Comments

first_imgELLSWORTH — For 32 minutes of play Monday evening, the Deer Isle-Stonington girls’ basketball team looked fearless.Up against an Ellsworth team that had a much larger talent pool from which to draw, it would have been easy for Hancock County’s smallest high school to get overwhelmed. After all, schools of different sizes are put into different classifications for a reason.True, it was merely an exhibition in which the coaches from both sides didn’t necessarily make the same play calls, substitutions and other in-game decisions they might have in the regular season. Yet the effort Deer Isle-Stonington, enrollment 112, showed in a 40-37 loss to Ellsworth, enrollment 448, still spoke of a team that doesn’t consider itself to be punching above its weight.“We went toe to toe with them all the way through to the end, which is what we wanted to do,” junior forward Katie Hutchinson said. “We’re not scared of anybody.”This is placeholder textThis is placeholder textThere’s no reason to be for Deer Isle-Stonington, which is coming off a year in which it used a balanced offense and hard-nosed defense to post an undefeated regular season and earn a playoff win before falling in the Class D North semifinals. With all but one player back from that deep run, coach Randy Shepard’s team has the pieces in place to make another.The 2017-18 campaign hardly could have been scripted better for Deer Isle-Stonington, which went 16-0 in the regular season with sweeps of Hancock County rivals Bucksport, George Stevens Academy and Sumner. The Mariners then held Ashland to just 20 points in the Northern Maine quarterfinals to win their first game at the Cross Insurance Center since 2012.Lily Gray, the Mariners’ top scorer last season, is back at the point guard position. As a junior last year, she scored 15 points against Machias, 19 against Jonesport-Beals, 21 against Bucksport and 19 again in the team’s regional semifinal loss to Woodland.Deer Isle-Stonington’s Lily Gray keeps the ball away from Ellsworth’s Trinity Montigny as teammate Rylee Eaton looks to get open during a preseason high school girls’ basketball game Dec. 3 in Ellsworth. Gray and Eaton were the Mariners’ top scorers last season. ELLSWORTH AMERICAN PHOTO BY MIKE MANDELLRylee Eaton, Deer Isle-Stonington’s No. 2 scorer last year, is also back, as is Kaylee Morey, who excelled as a passer and defender. Freshmen last season, both players are set to become even bigger contributors in 2018-19.With another of last season’s underclassmen, Brienna Limeburner, returning for her junior year, Deer Isle-Stonington will have one of Class D North’s best on-ball defenses. Tenacity on the defensive end of the floor last year was the calling card for the Mariners, who held opponents to just 33.4 points per game.“We focused on being tough and aggressive on defense, and that’s a big reason we won so many games,” Gray said. “There were some games where we didn’t shoot well but still won because we held the other team to 20 or 30 points.”Hutchinson, the leading rebounder among the team’s returning players, is manning the paint. Yet the Mariners also will have a bit of a different look down low due the loss of the team’s only 2017-18 senior, Orly Vaughn.Vaughn, a 6-foot forward, caused nightmares for opposing players last season on both offense and defense with her overpowering size. Even with two, sometimes three defenders in her face, she reached double figures in points and rebounds on a regular basis.“Orly was an awesome player, and our size without her is even more different than we thought it would be,” Gray said. “There are some things we did last year that we can’t do this year because nobody was as tall as her, but one positive is us getting to play a faster-paced game. I know I’m excited to see how we play that way.”Even without Vaughn, the Mariners have more than enough experience to remain a contender in Class D North this year. As the coach on the opposite side of the floor Monday night could attest, the visitors’ size — both that of their players and that of their school — is nothing more than a number.“With the way they can shoot, rebound and get up and down the floor, they would give some [Class] B teams and certainly some C teams a lot of trouble,” Ellsworth’s Andy Pooler said. “I don’t think any coach that prepares for them is going to be taking them lightly.” Ellsworth runners compete in virtual Boston Marathon – September 16, 2020 Latest Posts Bio MPA approves golf, XC, field hockey, soccer; football, volleyball moved to spring – September 10, 2020center_img Latest posts by Mike Mandell (see all) Mike MandellMike Mandell is the sports editor at The Ellsworth American and Mount Desert Islander. He began working for The American in August 2016. You can reach him via email at [email protected] Hospice volunteers help families navigate grief and find hope – September 12, 2020last_img read more

Ghana Rugby partners May 9th Remembered Foundation to support victims

August 29, 2020 0 Comments

first_imgThe President of Ghana Rugby and former Chairman of Kumasi Asante Kotoko, Mr Herbert Mensah, has echoed the COVID-19 call for “Safety First” at the 19th commemoration anniversary of the tragic Accra Sports Stadium disaster that struck on 9 May 2001 in Accra, Ghana.Due to restrictions imposed as a result of the 2020 novel Coronavirus, COVID-19, this year’s commemoration was limited to a small gathering of persons with disability who again received mobility aids donated by DESO.DESO (Disabled Equipment Sent Overseas) is a UK-based charity run by ‘Aunty Mavis’, a British-Ghanaian woman whose charity work in Ghana spans over 64 years.A number of Ghana Rugby’s national men’s and women’s players, the Ghana Eagles, who wore Ghana Rugby branded face masks with the message, “PLAY YOUR PART. KEEP YOUR DISTANCE” helped with the logistics during the event.At the occasion in Accra, Mensah said that not even the severe disruptions and restrictions of a virus must be allowed to prevent the remembrance of the tragic event on 9 May 2001 when one-hundred-and-twenty-six (126) young Ghanaians who had gone to the Accra Sports Stadium to watch the beautiful game of football lost their lives.“For the past 18 years, a group of us have marked May 9 by maintaining awareness of the events surrounding this tragedy as well as the families involved, including the issues of stadium safety and proper governance in Ghana. Safety of the football family was not given the proper priority then and we have to remind our sports administrators again and again that, ‘Safety first’ is not only important but that it is a responsibility and duty,” Mensah said.Mensah said that it is ironic that the 19th annual commemoration of the stadium disaster coincides with a time when the call for “safety first” tops the global agenda.“In 2001 safety was not on the agenda, and 126 young football fans lost their lives needlessly. With the Coronavirus in the air, I again call for ‘safety first’ and for all to heed the guidelines of wearing face masks and to keep up with maintaining social distances. If we all do not play our part in this regard we may see another tragedy of even greater proportions in Ghana,” Mensah said.Mensah also said that the safety of players and the public in all aspects of sports administration will always be high on his agenda.“The lesson of May 9, 2001, to me is that one can never neglect the duty of safety on or off-the-field. The loss of life is unacceptable when administrators do not fulfil their duty to prevent it. Ghana Rugby recently launched a programme, EagleWise, in cooperation with BokSmart of the South African Rugby Union that will focus on aspects of player safety and welfare. We have also embarked on an elaborate ‘STAY SAFE’ programme during the COVID-19 period that I hope would have helped to save lives,” Mensah said.The traditional events that earmark the awareness campaign of the “May 9th Remembered” movement that was initiated by Mensah will not take place in 2020. Since 2001 the Mensah-led campaign included a massive street walk in Kumasi, prayers at the Kumasi Central Mosque and visits to families of the deceased.The events for 2020 included the welcome presentation of the DESO mobility aids to persons with disability as well as visits to selected families of the deceased, accompanied by parcels of foodstuff.“I am again grateful to the companies who have again shown solidarity with the cause of May 9th Remembered by donating money to defray costs and/or foodstuff for families of the deceased. This year Interplast, Sunda International and GB Foods again played their part. Without their support, the flame of the cause of ‘May 9th Remembered’ for due diligence when it comes to sports administration will be difficult if not impossible to keep burning,” Mensah said.Mensah also said that the movement will “make up” in 2021 for the limited remembrance events caused by COVID-19 this year.About Ghana RugbyGhana Rugby is the official full member of both World Rugby (2017) and Rugby Africa in Ghana-West Africa and is responsible for the management and development of the Game Rugby Union in the country. The Union is governed by a Constitution and administers five KPAs (Key Performance Areas) namely: (1) Youth Development & Growth through the World Rugby “Get Into Rugby” Programme, (2) Women in Ghana Rugby, (3) Training & Education, (4) Domestic Competitions and (5) International Performance Tags: Ghana RugbyMay 9last_img read more