Mr. Cooper’s profits are down even as lower rates boosted its origination business

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Mr. Cooper Group’s Jay Bray, left, and Mike Weinbach say that mortgage origination income that exceeded expectations in Q3 2024 isn’t likely to be the norm in the near future.

When mortgage rates declined in the third quarter of 2024, Mr. Cooper Group doubled its gains in the origination business. But executives don’t expect to repeat this performance in the coming quarter.

“Our origination segment generated $69 million of pretax income, which significantly exceeded our guidance,” chairman and CEO Jay Bray told analysts during an earnings call on Wednesday. “This details ⇒

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