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Section 1: 8-K (MR. COOPER GROUP INC. 8-K)


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549 
 
 

FORM 8-K
 
 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of report (Date of earliest event reported):  August 20, 2020
 

 
Mr. Cooper Group Inc.
(Exact Name of Registrant as Specified in Charter) 
 

 

Delaware
 
001-14667
 
91-1653725
(State or Other Jurisdiction
of Incorporation)
 
(Commission
File Number)
 
(I.R.S. Employer
Identification No.)

8950 Cypress Waters Blvd.
Coppell, TX 75019
(Address of Principal Executive Offices, and Zip Code)

469-549-2000
Registrant’s Telephone Number, Including Area Code
 

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
 

Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 

Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 

Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.01 par value per share
COOP
The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.



Item 7.01 Regulation FD Disclosure.

On August 20, 2020, Mr. Cooper Group Inc. (the “Company”) disclosed the terms of a new financing facility for Ginnie Mae mortgage servicing rights and advances.  The new fully committed two-year $900 million facility replaces a $300 million Ginnie Mae mortgage servicing rights facility previously in place.  With this facility, the Company’s total committed advance and mortgage servicing rights financing capacity is now $2.7 billion, of which $1.8 billion was unused as of August 20, 2020.

Additionally, the Company disclosed that it has estimated the impact of the recent 50-bps Fannie Mae and Freddie Mac fee change on the fair value of its pipeline, net of an offsetting mark on the fair value of its mortgage servicing rights, at approximately $20 million,  and that one-time costs principally related to premiums and unamortized debt issuance costs in connection with the refinancing of Senior Notes due 2023 was $53 million.

The information furnished pursuant to this Item 7.01 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor will such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.

 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 
Mr. Cooper Group Inc.
 
 
 
 
Date: August 20, 2020  
 
 
 
 
 
 
 
By:

/s/ Christopher G. Marshall
 
 
 
Christopher G. Marshall
 
 
 
Vice Chairman & Chief Financial Officer

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