Mr. Cooper Group Announces Leadership Transition at Xome

News

Mr. Cooper Group Announces Leadership Transition at Xome

2025-01-10 05:27 Last Updated At：05:51

DALLAS--(BUSINESS WIRE)--Jan 9, 2025--

Mr. Cooper Group Inc. (NASDAQ: COOP) announced today that Mike Rawls, Chief Executive Officer of Xome ®, plans to retire effective June 30, 2025, and Chris Marshall, former Vice Chairman and President at Mr. Cooper, will join Xome to lead its operations. Rawls and Marshall will work together over the coming months to ensure a smooth transition.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250109604730/en/

“Since taking on the role of CEO in 2020, Mike has skillfully led Xome to become the powerhouse real estate marketplace it is today, with tremendous opportunity for growth as we move into 2025. We are sincerely grateful for Mike’s thoughtful leadership and innovative spirit over his 25 years with the Mr. Cooper Group team, and we wish him all the best,” said Jay Bray, Chairman and CEO of Mr. Cooper Group.

As Marshall steps in to lead Xome, he brings with him decades of experience in financial services, mortgage operations and technology, most recently serving as Vice Chairman and President of Mr. Cooper. He will work closely with Xome’s leadership team to prioritize market share growth and accelerate new revenue opportunities.

“With Mike’s upcoming retirement, we are pleased to have Chris Marshall step in to lead Xome as we position the company for continued success. Chris is an industry expert when it comes to driving revenue growth and building partnerships. In his time at Mr. Cooper, our team realized exponential growth and greater financial strength, and I am confident that Xome will unlock new avenues for growth and bolster its market position under Chris’ leadership,” said Bray.

“The Xome team has built an innovative, state-of-the-art real estate platform and fostered strong relationships with leading industry players, and I am looking forward to helping the team sustain this momentum as Xome continues to elevate its market position,” said Marshall.

In addition to his new role with Xome, Marshall will continue in his role as Chairman for Sagent.

About Mr. Cooper Group

Mr. Cooper Group Inc. (NASDAQ: COOP) provides customer-centric servicing, origination and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands: Mr. Cooper®, Xome® and Rushmore Servicing®. Mr. Cooper is the largest home loan servicer in the country focused on delivering a variety of servicing and lending products, services and technologies. For more information, visit www.mrcoopergroup.com.

Forward Looking Statements

Any statements in this release that are not historical or current facts are forward looking statements. Forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the “Risk Factors” section of Mr. Cooper Group’s most recent annual reports and other required documents as filed with the SEC which are available at the SEC’s website at http://www.sec.gov. Mr. Cooper undertakes no obligation to publicly update or revise any forward-looking statement contained herein, and the statements made in this press release are current as of the date of this release only.

What to know about thousands of evacuations and homes burned in Los Angeles area fires

2025-01-10 05:44 Last Updated At：05:51

LOS ANGELES (AP) — At least five people were killed and thousands of structures were burned as fierce wildfires raged in the Los Angeles area, officials said. Fast-moving flames blazed through homes and businesses as residents fled smoke-filled canyons and picturesque neighborhoods that are home to many celebrities.

Many of the towering fires that began Tuesday were fueled by powerful Santa Ana winds, which gusted to more than 70 mph (112 kph) in some spots. The winds dropped Thursday, but the National Weather Service warned that even the reduced gusts could still spread fire rapidly and the wind is expected to strengthen again Thursday evening. Another round of strong winds may form Tuesday.

The exact death toll remained unclear Thursday morning, but the total is expected to rise as crews begin to search the rubble.

Gov. Gavin Newsom said the state has deployed more than 1,400 firefighting personnel to battle the blazes. Oregon, Washington, Utah, New Mexico and Arizona were dispatching teams to assist.

AccuWeather estimated Wednesday that $52 billion to $57 billion in preliminary damage and economic loss has occurred but the fires continue to burn.

Here's what to know about the fires:

Thousands of structures have been damaged or destroyed in the hilly coastal neighborhood of Pacific Palisades, making it the most destructive fire in Los Angeles history.

The wreckage surpassed that of the Sayre Fire of November 2008, which destroyed 604 structures in Sylmar, the northernmost suburb of the city, according to statistics kept by the Wildfire Alliance, a partnership between the city’s fire department and MySafe:LA.

Nearly 27 square miles (nearly 70 square kilometers) burned in Pacific Palisades, which is dotted with celebrity homes and was memorialized by the Beach Boys in their 1960s hit “Surfin’ USA.” The flames torched part of Palisades Charter High School, which has been featured in many Hollywood productions, including the 1976 horror movie “Carrie” and the TV series “Teen Wolf.”

The fire destroyed the public library, two major grocery stores, a pair of banks and several boutiques in Palisades Village. Actor Billy Crystal and his wife Janice lost their home of 45 years.

Farther inland, the Eaton Fire north of Pasadena burned between 200 and 500 structures, substantially damaged five school campuses in Altadena and scorched more than 16.5 square miles (43 square kilometers). Employees at a senior center pushed dozens of residents in wheelchairs and hospital beds to a parking lot to escape.

The Hurst Fire, which started Tuesday night, prompted evacuations in Sylmar in the San Fernando Valley and grew to 1 square mile (2.6 square kilometers).

Late Wednesday, another blaze broke out in the Hollywood Hills. Called the Sunset Fire, it was burning near the Hollywood Bowl and other iconic landmarks, but firefighters were able to hold that blaze to under 1 square mile (2.6 square kilometers).

Altogether the fires have consumed about 45 square miles (117 square kilometers) — roughly the size of San Francisco.

Nearly 180,000 people were under evacuation orders Thursday morning.

The flames threatened highly populated and affluent neighborhoods, including Calabasas and Santa Monica, home to California’s rich and famous. Hollywood stars including Mark Hamill, Mandy Moore and James Woods were among those forced to flee, and Moore later said she lost her home in Altadena.

The fires filled the air with a thick cloud of smoke and ash, prompting air and dust advisories for 17 million people across a vast stretch of Southern California, according to the South Coast Air Quality Management District.

The worst conditions were in the vicinity of the fires. In East Los Angeles, the air quality index hit an unhealthy 173. Good air quality is considered to be 50 or less.

Dr. Puneet Gupta, the assistant medical director for the Los Angeles County Fire Department, said wildfire smoke causes heart attacks and worsens asthma, while burning homes can release cyanide and carbon dioxide.

The Critics Choice Awards rescheduled their Sunday ceremonies for Jan. 26. They're due to be held at the Barker Hangar in Santa Monica, only miles from Pacific Palisades.

The organization that puts on the Oscars has extended the voting window for Academy Awards nominations and delayed next week’s planned nominations announcement.

Film studios canceled two movie premieres because of the fires and windy weather, the Universal Studios Hollywood theme park closed for the day because of smoky, windy conditions and the J. Paul Getty Trust said two of its museums will remain closed for the next few days. But Disneyland, which is farther from the fires in Anaheim, remained open.

Universal Studios also canceled shooting for numerous series, including “Hacks,” “Ted Lasso” and “Suits LA.”

All schools were closed Thursday in the Los Angeles Unified School District.

The NHL postponed the Los Angeles Kings’ home game against the Calgary Flames at the Kings’ downtown arena Wednesday night.

The NBA postponed Thursday's scheduled Lakers game against the Hornets because of the fires while the NFL said it is monitoring conditions to determine if Monday's playoff game between the Los Angeles Rams and Minnesota Vikings will be affected. If that game has to be moved, it will be played at State Farm Stadium in Glendale, Arizona, the home of the Arizona Cardinals.

More than 415,000 customers were without power in Southern California on Thursday afternoon, with about half of them in Los Angeles County, according to PowerOutage.us, which tracks outages nationwide.

Residents in some areas including Palisades have been ordered to boil their water before using it because ash and debris from the fires have contaminated some water supplies. Officials say the sewer, water and power infrastructure across the region has been significantly damaged.

Looters who are taking advantage of the wildfire crisis in Los Angeles by targeting vulnerable communities will be prosecuted, officials promised during a news conference Thursday morning. There have been at least 20 arrests.

“This is simply unacceptable,” Los Angeles County Board of Supervisors Chair Kathryn Barger said. “I promise you, you will be held accountable.”