Mr. Cooper Group Inc. completes acquisition of Flagstar Bank N.A.’s mortgage operations
Nov 01, 2024•about 1 year ago
Acquiring Company
Mr. Cooper Group
Acquired Company
Flagstar Financial
DallasHicksvilleFinancial ServicesBankingFinanceFinancial ServicesDescription
Mr. Cooper Group Inc. has successfully closed the acquisition of Flagstar Bank N.A.’s mortgage operations, including MSRs, advances, subservicing contracts, and Flagstar’s third-party origination platform for approximately $1.3 billion in cash. This acquisition expands Mr. Cooper’s reach and ability to deliver full-service solutions to financial institutions and other clients, helping them manage their balance sheet and achieve their strategic goals.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed