S&P revises Mr. Cooper view to negative

S&P said it revised the outlook for Mr. Cooper Group Inc. to negative from stable but affirmed the B ratings for the company, its subsidiaries and its $2.3 billion of unsecured notes.

The agency said it expects the economic impact of the pandemic to result in a significant increase in servicing advances, which could strain liquidity over the coming months. Also, Mr. Cooper Group Inc. will likely have negative fair value adjustments on its mortgage servicing rights, S&P said.

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