NYCB subsidiary Flagstar selling mortgage servicing business to Mr. Cooper for $1.4B

FLAGSTAR BANK, NATIONAL ASSOCIATION

Purchase price ~$1.4B cash; expected to close Q4 2024.
Transaction adds approx. 60 bps to CET1 capital ratio.
Buyer is Mr. Cooper (NASDAQ: COOP); Jefferies LLC acted as advisor.
Sale includes mortgage servicing rights and third-party origination platform.
NYCB will continue offering residential mortgage products to retail/private wealth customers.

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