Mr. Cooper Group

Office address: 8950 Cypress Waters, Building One, Coppell, TX 750
Website: www.mrcoopergroup.com
Year established: 1994
Company type: financial services
Employees: 7,000+
Expertise: conventional mortgages, FHA loans, USDA loans, VA loans, jumbo loans, fixed rate mortgages, adjustable rates mortgages, refinancing
Parent company: Mr. Cooper Group
CEO and key people: Jay Bray (CEO and chair), Chris Marshall (vice chair), Mike Weinbach (president), Kelly Ann Doherty (EVP and CAO), Ethan Elzen (EVP), Angela Greenfeather (EVP and CHRO), Kurt Johnson (EVP and CFO)
Financing status: formerly PE-backed

Mr. Cooper Group is a Coppell-based residential mortgage services company that has a market capitalization of approximately $5 billion. The company has over 7,000 employees across the US and India, servicing more than 5 million customers across America. It primarily operates through its 3 brands: Mr. Cooper, Xome, and Rushmore Servicing and surpasses an unpaid principal balance of over $1 trillion. 

History of Mr. Cooper Group 

Mr. Cooper Group was originally founded in 1994 as Nationstar Mortgage. They launched Xome in 2012 and became the largest non-bank solutions company in the US in 2016. The company rebranded from Nationstar to Mr. Cooper, seeking to shift towards a more personalized customer experience.  

The company further expanded its market presence by merging with WMIH in 2018, marking its transformation into a broader conglomerate under the Mr. Cooper Group umbrella. Mr. Cooper Group developed Pyro with Google and launched the industry’s first cloud-native servicing platform with Sagent. In 2023, they expanded through acquisitions including Homepoint Capital and Rushmore Loan Management Services and launched Rushmore Servicing. 

Products and Services of Mr. Cooper Group 

Mr. Cooper Group provides several products and services, some of which are offered through their 3 main brands. Key offerings include:  

• mortgage servicing: comprehensive servicing solutions enhancing customer experience through innovative tools and personalized service 
• subservicing: managing mortgage loans on behalf of other financial institutions to ensure high-quality, compliant customer interactions 
• private label subservicing: customized mortgage servicing under the client's brand, providing dedicated portfolio management and customer support 
• special servicing: targeted assistance for homeowners facing financial difficulties to help them regain stability 
• master servicing: oversight and management of a diverse loan portfolio, including residential and non-qualified mortgage products 
• direct-to-consumer originations: streamlined mortgage origination services that simplify the home buying and refinancing process for consumers 

Culture at Mr. Cooper Group 

Mr. Cooper Group has an employee culture that promotes a home-centric work model and encourages flexibility and a strong sense of belonging, among other standards. This inclusive and supportive environment is shown through its diversity, equity, and inclusion principles. The company provides their employees with essential benefits, including:  

• comprehensive health coverage  
• remote work flexibility  
• 401(k) savings plan with company match  
• educational assistance  
• wellness programs  
• paid time off  
• parental leave and more 

Mr. Cooper Group actively promotes sustainable business practices and social responsibility, focusing on environmental stewardship, social impact, and high standards of corporate governance. The company’s community engagement emphasizes philanthropy and volunteerism to support housing and education in underserved communities. They have also donated to organizations that aim to support safe and just communities to its staff and their families, such as: 

• Equal Justice Initiative 
• National CARES Mentoring Movement 
• National Urban League 
• The Leadership Conference on Civil & Human Rights Education Fund 

About Mr. Cooper Group CEO Jay Bray and Key People 

Jay Bray has served as Mr. Cooper Group’s CEO since 2012. Bray’s track record includes working with Arthur Andersen as an audit manager and holding various leadership roles at Bank of America. He holds a BAA in Accounting from Auburn University and is a Certified Public Accountant in Georgia. 

Helping Bray lead the company is a team of seasoned professionals: 

• Chris Marshall as vice chair focuses on strategic financial planning and corporate growth across the board 
• Mike Weinbach, president of the company, oversees the company’s operations, ensuring alignment with strategic goals 
• Kelly Ann Doherty serves as the EVP and CAO, where she oversees the administrative functions, including legal, regulatory compliance, and human resources 
• Ethan Elzen, EVP of transformation initiatives, leads transformative business initiatives to streamline operations 
• Angela Greenfeather, the EVP and CHRO, is responsible for directing human resources, fostering an inclusive and productive work environment 
• Kurt Johnson, as the EVP and CFO, controls financial strategy and health, contributing to the company's financial stability 

The Future at Mr. Cooper Group 

Mr. Cooper Group is expanding through strategic acquisitions like Home Point Capital and Roosevelt Management Company. These moves are part of a broader strategy to leverage technology and enhance service offerings, positioning the company for continued growth. With the company surpassing market expectations since the start of 2024, Mr. Cooper Group may still maintain its strong financial standing.