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Home » Store » News » IBM Sells Loan Servicing Arm Seterus to Mr. Cooper

IBM Sells Loan Servicing Arm Seterus to Mr. Cooper

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The country’s fourth-largest subservicer, Mr. Cooper, will purchase IBM’s mortgage servicing subsidiary Seterus. The deal, expected to close in the first quarter of 2019, will give Mr. Cooper servicing rights to $24 billion in GSE mortgages as well as subservicing contracts for another $24 billion in loans. In addition, Mr. Cooper will acquire Seterus’ mortgage servicing platform.
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