New York Community Bancorp Flagstar enters into MSR purchase agreement

The company states: “On July 24, 2024, Flagstar Bank, National Association, the wholly owned subsidiary of New York Community Bancorp entered into an Agreement for the Bulk Purchase and Sale of Mortgage Servicing Rights with Nationstar Mortgage LLC, a Delaware limited liability company and operating subsidiary of Mr. Cooper Group Inc., and a related Asset Purchase Agreement with Nationstar. Pursuant to the terms of the Asset Purchase Agreement, Nationstar will purchase and assume from Flagstar, certain assets and related liabilities related to Flagstar’s mortgage servicing and third-party origination operations for a purchase price of approximately $200 million in cash, subject to certain adjustments as described in the Asset Purchase Agreement.”