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Mr. Cooper Group
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Mr. Cooper Group
Mr. Cooper Group, formerly WMI Holdings Corporation, is an American home loan servicer headquartered in the Dallas, Texas, area. Mr. Cooper Group specializes in residential mortgages, mortgage refinancing, home loans, and home loan refinancing. As of 2023[update], it was one of the largest mortgage servicers in the United States with a servicing portfolio of approximately $937 billion and more than 4.3 million customers. The company was acquired by Rocket Companies in 2025.
Mr. Cooper Group was formed in 2018 as the merger between WMI Holdings Corporation and Nationstar.
WMI Holdings Corporation was incorporated as the Washington National Building Loan and Investment Association on September 25, 1889, after the Great Seattle Fire destroyed 120 acres (49 ha) of the central business district of Seattle. The newly formed company made its first home mortgage loan on the West Coast on February 10, 1890. It changed its name to Washington Savings and Loan Association on June 25, 1908. By September 12, 1917, it was operating under the name Washington Mutual Savings Bank.
In mid-2008, WaMu suffered a massive run where customers pulled out $16.7 billion in deposits in a ten-day span. On the night of September 25, the Office of Thrift Supervision seized WaMu Bank and placed it into the receivership of the FDIC. The FDIC then sold most of WaMu Bank's assets, including the branch network.
On September 26, 2008, WaMu, Inc., and its remaining subsidiary, WMI Investment Corp., filed for Chapter 11 bankruptcy and after seven plans to reorganize the company finally emerged from Chapter 11 bankruptcy the following month as WMI Holdings Corporation. In 2018 WMI Holdings Corporation merged with Nationstar to form Mr. Cooper.
Nationstar was founded in Denver, Colorado, in 1994 as Nova Credit Corporation. In 1997, the company moved to Dallas, Texas, where home-builder Centex Homes established Nova Credit Corporation as their in-house lender for new construction and changed the company name to Centex Credit Corporation. In 2001, Centex Credit Corporation was merged into Centex Home Equity Company, and it operated as the subprime mortgage originator and servicer for Centex until 2005.
In 2005, the decision was made to withdraw Centex Homes from non-home-building businesses, including the mortgage business. Fortress Investment Group acquired Centex Home Equity and renamed it Nationstar Mortgage in 2006.
In March 2012, Nationstar Mortgage Holdings, Inc. went public with an initial public offering on the New York Stock Exchange.
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Mr. Cooper Group
Mr. Cooper Group, formerly WMI Holdings Corporation, is an American home loan servicer headquartered in the Dallas, Texas, area. Mr. Cooper Group specializes in residential mortgages, mortgage refinancing, home loans, and home loan refinancing. As of 2023[update], it was one of the largest mortgage servicers in the United States with a servicing portfolio of approximately $937 billion and more than 4.3 million customers. The company was acquired by Rocket Companies in 2025.
Mr. Cooper Group was formed in 2018 as the merger between WMI Holdings Corporation and Nationstar.
WMI Holdings Corporation was incorporated as the Washington National Building Loan and Investment Association on September 25, 1889, after the Great Seattle Fire destroyed 120 acres (49 ha) of the central business district of Seattle. The newly formed company made its first home mortgage loan on the West Coast on February 10, 1890. It changed its name to Washington Savings and Loan Association on June 25, 1908. By September 12, 1917, it was operating under the name Washington Mutual Savings Bank.
In mid-2008, WaMu suffered a massive run where customers pulled out $16.7 billion in deposits in a ten-day span. On the night of September 25, the Office of Thrift Supervision seized WaMu Bank and placed it into the receivership of the FDIC. The FDIC then sold most of WaMu Bank's assets, including the branch network.
On September 26, 2008, WaMu, Inc., and its remaining subsidiary, WMI Investment Corp., filed for Chapter 11 bankruptcy and after seven plans to reorganize the company finally emerged from Chapter 11 bankruptcy the following month as WMI Holdings Corporation. In 2018 WMI Holdings Corporation merged with Nationstar to form Mr. Cooper.
Nationstar was founded in Denver, Colorado, in 1994 as Nova Credit Corporation. In 1997, the company moved to Dallas, Texas, where home-builder Centex Homes established Nova Credit Corporation as their in-house lender for new construction and changed the company name to Centex Credit Corporation. In 2001, Centex Credit Corporation was merged into Centex Home Equity Company, and it operated as the subprime mortgage originator and servicer for Centex until 2005.
In 2005, the decision was made to withdraw Centex Homes from non-home-building businesses, including the mortgage business. Fortress Investment Group acquired Centex Home Equity and renamed it Nationstar Mortgage in 2006.
In March 2012, Nationstar Mortgage Holdings, Inc. went public with an initial public offering on the New York Stock Exchange.