Mr. Cooper

Seek class action status over denial of COVID-19

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.