Has Mr. Cooper Milked About All It Can From Mortgage Servicing?

Has Mr. Cooper Milked About All It Can From Mortgage Servicing?

The mortgage banking business is one of the most cyclical industries. In 2020 and 2021, it feasted on easy refinancing activity courtesy of the Federal Reserve's rate cuts in reaction to the COVID-19 pandemic. Mortgage bankers have been absolutely hammered this year, with some going bankrupt and some radically restructuring their businesses.