General World News

Mr. Cooper exits reverse servicing space with sale to MAM

Mortgage servicing, origination and transaction-based services company Mr. Cooper Group announced on Tuesday the sale of its reverse mortgage servicing portfolio – operating under the Champion Mortgage brand – to Mortgage Assets Management (MAM).

Terms of the deal were not disclosed, but statements from Mr. Cooper company leadership detailed that the transaction will not have a significant impact on its second quarter 2021 results.

The development is particularly notable due to the recent activity of MAM in the realm of reverse mortgage servicing. MAM emerged as the buyer of servicer Reverse Mortgage Solutions (RMS) in 2019, buying the company and its details ⇒

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