Mr. Cooper recently announced it has appointed Mike Weinbach
as its new president, effective Feb. 1. He will be responsible for overseeing
operations, including originations, servicing and technology, according to a company
press release.
With more than 25 years of experience in the financial
services industry, Weinbach has a track record of senior leadership roles
across consumer and mortgage banking, the release states. Most recently, he
served as CEO of Consumer Lending for Wells Fargo and as a member of the firm's
Operating Committee, responsible for leading more than 40,000 team members
focused on home lending, auto lending, credit cards, merchant services, student
lending and personal lending.
Previously, he served as CEO of Chase Home Lending at JP
Morgan Chase, where he also held leadership roles in Consumer Banking, Business
Banking, Mortgage Servicing and Auto Finance, with oversight of sales, finance
and operations.
“I am delighted to welcome Mike to Mr. Cooper Group,” said
Jay Bray, chairman and CEO of Mr. Cooper Group. “His extensive background in
consumer lending and financial services as well as his people-first approach
will be a great fit for our team as he helps lead the company forward on the
next phase of our journey.”
Weinbach said, “I have long admired Mr. Cooper’s impressive
record of growth and profitability as well as their commitment to the customer
experience, and I am thrilled to hit the ground running with this fantastic
team.”
Chris Marshall, who currently serves as vice chairman and
president, will remain with Mr. Cooper Group to assist with the transition and
oversee fundraising for the company’s MSR fund. As previously disclosed, Chris
will retire at the end of 2024.