Dallas-based Mr. Cooper Group has entered into an agreement to acquire struggling Home Point Capital for $324 million in cash, the companies announced on Wednesday. The transaction will ultimately result in the seller shutting down operations. 

Rumors that Mr. Cooper was interested in Michigan-based Home Point spread after the latter sold its wholesale origination business to The Loan Store on April 7. At that point, Home Point said it would manage its balance sheet and mortgage servicing rights (MSR) portfolio.

In total, Mr. Cooper is acquiring Home Point’s $84 billion servicing portfolio, which will contribute to Mr. Cooper’s return details ⇒

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