Item 7.01 Regulation FD Disclosure.
In connection with a series of investor meetings on
? Correspondent net lock(1) volumes in the month of October were a record
billion and fundings were a record
as a percentage of net locks declined to 0.66% in October from 0.81% in the
third quarter, as the Company brought pricing in line with market to more
aggressively grow volumes.
? Direct-to-consumer (DTC) net lock(1) volumes in the month of October were
billion, and fundings were a record
increased to 5.82% in October from 5.46% in the third quarter, reflecting
favorable secondary market conditions.
? Purchase refinance mix on funded volume in the month of October was 66%
refinance in the Correspondent channel and 98% refinance in the DTC channel
? Prepayment speeds have come in higher than expected so far in the fourth
quarter, with forward owned CPRs averaging 28% through
compared to 25.9% for the third quarter. As a result, the Company expects the
servicing margin to come in at approximately negative 2.3-2.8 basis points for
the fourth quarter, compared to negative 0.1 basis points in the third quarter.
The information furnished pursuant to this Item 7.01 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor will such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.
Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions. Our actual results could differ materially from those predicted or implied. Undue reliance should not be placed on the forward-looking statements in this Current Report on Form 8-K. We assume no obligation to update such statements.
(1) Net lock volume is adjusted for fallout
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit Number Description 99.1 Mr. Cooper Group Investor Update, datedNovember 12, 2020 .
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