and 8K filingthe Dallas-based company said in a statement to cover costs related to headcount reductions and costs related to “rebalancing capabilities in the origination division, consolidating assets, and implementing other efficiency plans.” He said he expects to incur costs of approximately $15 million to $20 million.
“Mr. Cooper operates with a balanced business model that includes both service and origination, and while we are adjusting capacity in the short term, the origination platform remains central to our long-term strategy.” Cooper said. “We have a long history of successfully navigating various cycles and are confident that these changes will further enhance our ability to invest and grow in the future.
Read the following: Mortgage firms announce layoffs amid slump in housing market
“Waying goodbye to a valued team member is always a difficult decision, and one made only after considering all options. Our team members are focused on preserving the homeownership dream. During this time, we are committed to transparency and respect, and to providing resources to support these team members as they transition to the next phase of their careers. I have.”