Maverick Merger Sub 2, LLC: M&A transaction — Mr. Cooper closes $1.3B cash acquisition of Flagstar's mortgage operations

Maverick Merger Sub 2, LLC

Acquired MSRs, advances, subservicing contracts, and third-party origination platform for $1.3 billion in cash.
Transaction closed Oct 31, 2024; integration onto Mr. Cooper's platform expected in early 2025.
Mr. Cooper now serves more than 6 million customers post-acquisition.
Flagstar is a wholly owned subsidiary of Flagstar Financial, Inc.; legal advisor: Wachtell, Lipton, Rosen & Katz.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 1.0

Maverick Merger Sub 2, LLC completed an acquisition involving Flagstar Bank, N.A. for approximately $1.3 billion in cash (closed 2024-10-31).

Action: acquisition
Counterparty: Flagstar Bank, N.A.
Consideration: approximately $1.3 billion in cash
Closing: 2024-10-31

Exact text from the filing

On October 31, 2024, Nationstar Mortgage LLC (“Nationstar”), a Delaware limited liability company and operating subsidiary of Mr. Cooper Group Inc. (the “Company”), completed its previously announced acquisition (the “Acquisition”) of certain assets, including mortgage servicing rights, subservicing contracts, and third-party origination assets from Flagstar Bank, N.A. (“Flagstar”), a national banking association and a wholly owned subsidiary of Flagstar Financial, Inc., for an aggregate purchase price of approximately $1.3 billion in cash.

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Source: SEC EDGAR

accession 0001171843-24-006036

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