Moody’s lifts Mr. Cooper

Moody's Investors Service said it upgraded Mr. Cooper Group Inc.'s corporate family rating to Ba3 from B1. Additionally, the agency affirmed Nationstar Mortgage Holdings Inc.'s B1 backed senior unsecured debt rating, Nationstar Mortgage LLC's B1 long-term issuer rating, and Home Point Capital Inc.'s B1 senior unsecured debt rating, assumed by Mr. Cooper Group Inc.

“The upgrade of Mr. Cooper's CFR to Ba3 reflects the company's strong position in the U.S. residential mortgage origination and servicing market. The company is currently the sixth largest servicer of residential mortgage loans, which provide predictable fee-for-service revenue. Additionally, the rating reflects the company's sustained improvement in capitalization and resilient earnings in a challenging mortgage environment. The rating also reflects the cyclical nature of the mortgage industry, as well as heightened operational and regulatory risks,” Moody’s said in a press release.

The outlooks for Mr. Cooper, Nationstar Mortgage Holdings Inc. and Nationstar Mortgage LLC remain stable.

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