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As its mortgage origination volume delivered another quarter of strong earnings, Mr. Cooper’s banking on its "enormous backlog" of REO orders to generate further profitability once the foreclosure moratorium is lifted.

The offering went down to $14 from an anticipated $19 to $21 per share.

The agreement would generate $250 million in proceeds, which the nonbank mortgage company plans to use to pay down and refinance existing debt, while also investing in its servicing and origination businesses.

But the company sees reasons to be optimistic about the second half of the year, CEO and Chairman Michael Nierenberg said during its fourth quarter earnings call

The deal definitively ends a monthslong war of words between the data provider and stakeholders who attempted a hostile takeover.

Pretax operating margins came in much narrower than what is projected for the three stand-alone underwriters.

This is the third nonbank mortgage company offering in a row to decrease its size, but the reductions were more severe than the others.

While it is looking for a higher price per share, the company will be selling fewer shares on its own behalf.

The former No. 2 at Countrywide had been battling brain cancer prior to passing away from the coronavirus.

The expected pricing range is between $19 and $21 per share if all 14.4 million shares to be offered are sold.