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Loan originator and servicer saw earnings fall 25% from 2Q, but mortgage servicing portfolio grew.
Earnings also down 65.6% from the same quarter last year.
loanDepot did not disclose numbers; 420 Mr. Cooper Group employees laid off, including 120 in California.
Dramatic increase in earnings a result of deal with Sagent
Sagent will buy certain intellectual property rights related to Mr. Cooper’s proprietary, cloud-based technology platform for mortgage servicing, and Mr. Cooper will receive an equity stake in Sagent.
