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If your mortgage is taken over by Mr. Cooper (formerly Nationstar) …. *January 2023
…run - don't walk – to refinance with another company. Better yet, pay off your house as quickly as you can. I'm definitely NOT venting, but only trying to inform others of their heinous business practices. Had we known in advance that no one in Mr. Cooper is capable of communicating, I might have taken a different stance. A mortgage company that doesn't assist their customers? Just creating the log in, going through the settings, alerts – all of it – took several calls. Why they didn't they send out instructions, instead of forcing customers to call for help is beyond me. It all should have been in the 'Welcome letter', and that very document should have been called a 'Shock Statement'. Of course, our previous mortgage company (USAA, that we thoroughly researched and selected) should have informed us of the acquisition. Ha – we had never heard of Mr. Cooper. What a way to treat us Veterans, who, in some cases – willfully gave their lives protecting our country. Problems continued with every question, and I asked a myriad of them. Here's a kicker – I even tried the secure message center for one of my questions in an attempt to avoid another uneducated person. The answer was full of blah-blah-blah that I didn't ask, suggested that I call Customer Service (!) and then they closed the ticket. Several tickets I submitted. Round and round I went, asking that tickets NOT be closed until my question was addressed, that this matter was escalated and that I was still waiting on a return call. This was only SIX weeks into our relationship with Mr. Cooper. Heaven forbid if you reach a Customer Service agent that you can't understand. I applaud hiring diversified individuals, but you have to be able to comprehend what they're saying, and vice versa. Customers can't trust anything they've told you. Ask the same question of multiple people, you're given as many different answers. One example of our numerous challenges was trying to get both of our FICO scores on the dashboard. One person said, 'sure, just make another log in', and Ms. Brooks (continued below) says it wasn't possible, that we shouldn't have been told that. What? No one can read a script in front of them? Their agents must not be trained in anything remotely financial either, let alone mortgages. Even if you've been given "their direct number to call them with aaaaaaaaaannnyyy questions what-so-ever", their outgoing message clearly indicates different hours from what the person gave you. Leaving them voicemails is clearly a waste of your time, since their obvious intention is to refuse to call you back. You feel like the right thing to do is report each and every one of them. Getting a supervisor / manager is impossible, so you try the apparent method of 'escalating'. And, their phone system is horrid. 'In a few words, please tell me why you're calling.' - says the automated voice. You say 'escalation team'. It responds, 'You're calling about payments, right?' Nothing short of infuriating, when you're already worked into a lather about your questions not being addressed by Customer Service. Contacting their manager of the Escalation Department – Amber Brooks – is hopeless. She admitted in an *email to me that she heard the offending calls, all of which wasted my time and cost me hundreds of dollars – then did absolutely nothing to resolve the issue. All of my vehement requests of them pulling calls (yes, they're all recorded and kept) did nothing to make them understand they truly were at fault. Contacting Jennifer Guthrie (never located her exact title) was also useless. No, I never found her number, and Amber Brooks reports to her. Four times I emailed her, begging for help. She never once bothered to respond. They even had the gall to have a secretary call me to say they refuse to help in this situation. All representatives say 'they're in the escalation department' and there's no direct number into that department. Profound and lame apologies by every.single.person, yet no one does anything about *your* situation, albeit promises, and all forgotten - with no follow-through. In order to remove Mr. Cooper from our lives, we started working overtime as much as humanly possible, with the plan to pay off our home, eight years early. Everything, even bonuses, extra went towards the principal. Luckily, there was no penalty for early pay off. A perfect example of their lack of checks and balances in the company. Using their online portal, I made an extra payment to the principal, and THEY decided to put it towards a regular payment, instead of the boxes I checked. Again I called, asking for the escalation team, and was forced to explain another round to incompetent folks. A nice person Amanda Bailey (office phone *******518) assured me she would reverse the payment and apply it according to my wishes. She sounded quite confident, so I didn't worry. I asked for proof when it was complete. What I expected and what I received were wildly different. She sent me an encrypted email of 13 pages, going all the way back when they took over our loan! I couldn't begin to fathom what was so difficult in asking for proof of a reversal. A problem that sent me around the bend was making a *large payment to the principal. Given all the questions I had asked about how the pay-off worked, no one bothered to tell me about the fact that you can't pay off more than 90% of your loan on their system. When making this enormous payment, I was blessed with an error message – 'It looks like you're trying to pay off your loan. You can't make a payment more than xxxxxx amount.' Boy was I furious.
Another challenge was actually getting the pay-off. One person said it took 2-3 days to create, then 7-10 days in the mail. Mortified, I asked what country it was coming from. This was completely opposite of what the website says – the box indicating 4-6 days, period. And gosh, you sure can't call to ask which is true. Well, I did – and what a waste of time. We waited and waited, and yes, I stupidly called again asking where our pay-off was. Shocked again, I was told that another agent requested a pay-off on our behalf. (!) In the same conversation, I was told that their "system requested a pay-off". I tersely said that I only requested ONE pay-off and not multiple. Then I was told that the system suspended everything. I yelled at the person, "How does this happen?!" I heard crickets. We finally got the pay-off and made one last enormous payment to the principal. THEN we received the escrow disclosure statement. Absurd to think it was nearly over. No one explained the fees associated with closing your loan. Yep, I called again. Haley, from TX, was so condescending – so I told her how much I despised Mr. Cooper, that I certainly hoped it was nearly over. You guessed it, the remainder of the escrow was shorted by all the fees. What a joke. Their mission statement is nothing short of laughable. Not one person I've spoken to has ever acted in any manner that supports the company's magnanimous declaration. Funny how many bad reviews there are of Mr. Cooper, dating back several years. Seems nothing ever changes. If you're forced to work with them, please protect yourself. Add every extra penny you have to the principal. Save every email, take copious notes, and write down the name of every.single.person you speak to. Most important - you don't have to sign with *them. Another funny thing – look at the BBB alert for Lewisville, TX - titled Government Action. Still unsure, read the Indeed reviews from folks that work for them.
Tip for consumers:
avoid them at all costs
Products used:
our mortgage was taken over by mr. cooper... we had no choice.
Date of experience: January 15, 2023
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Mr. Cooper has a rating of 1.1 stars from 437 reviews, indicating that most customers are generally dissatisfied with their purchases. Reviewers complaining about Mr. Cooper most frequently mention customer service, mortgage company, and escrow account problems. Mr. Cooper ranks 240th among Mortgages sites.
The BEST mortgage company. Anytime I need to get anything resolved or any questions answered, with Mr. Cooper it's a breeze. Their online options are comprehensive, I love that when I call I get to speak with someone at their Texas call center. This is seriously the best company I've ever had handling a mortgage, will recommend them to everyone.
I was notified that Mr. Cooper had purchased my mortgage loan from my previous mortgage company. On 18DEC2024 I was contacted by Mr. Cooper to inform me that my payment (my very first for this new mortgage) was late. I received the voicemail and I made a considerable amount of attempts to contact them to resolve the issue. No way to get a hold of a live operator. Made additional attempts to contact them on 19DEC 2024. Again, after spending hours trying to get to a LIVE OPERATOR to assist me. NOTHING! Each and EVERY time I was hung up on by the automated system. This is my first payment for this mortgage and the LAST time I will ever be put in this situation. In over 30 plus years of working with mortgage companies, not one time, NOT ONE have I ever experienced something like this. I'm actually embarrassed for them that they run a company so unprofessionally and disgusting like this. It is obvious that there are issues considering the amount of bad reviews that can be seen online. I've seen one site that are favorable to them which may be questionable considering the amount of negative reviews. I will neither recommend this company or do business with them EVER again once I have left them. I will be refinancing with another more reputable mortgage company. COOPER IS THE WORST!
Mr. Cooper is the WORST company I have ever has the displeasure to deal with. They are RUDE, DON'T GIVE A CRAP ABOUT THEIR CUSTOMERS, LIARS, UNKNOWLEGEABLE AND JUST PLAIN A**HOLES!
Do yourself a favor and find another mortgage company.
Date of experience: May 28, 2022
Mr. Cooper purchased my loan from Flagstar bank. I went to set up weekly payments on auto pay, not offered. Went to a bi-weekly auto payment. They charge you for this service. Unacceptable!
Date of experience: November 11, 2020
Our loan was sold to mr Cooper right away and it's been drama ever since. The borrower isn't allowed to pay their own bills, which is normal of course, but Mr Cooper won't pay them properly either! So we ended up going back and forth for months trying to get it sorted out and then once we thought it was resolved they suddenly decided that they had paid the insurance twice and charged us a chunk of extra money! I chatted with them and called, but there was no convincing them that it was their error.
That's what happened last year. Now this year they still haven't even attempted to pay the insurance and it's due in just over a week. With so little time, if they mess it up again I won't have time to try to fix everything before the payment is late again.
They also would have missed a tax bill if I hadn't been nervous about them messing it up and notified them that they were missing one ahead of time.
I can't even contact them on their website anymore, the message center won't load on my phone or computer. Their page to update insurance information says it finds multiple properties when I put our information in and then when I put the loan number in it says our loan doesn't exist.
What a stressful mess.
Date of experience: September 18, 2020
Our mortgage got sold to Mr. Cooper, formerly Nationstar. We immediately had issues when we had never had issues, ever, with any other mortgage company. They robocalled my husband incessantly at work saying our payment was overdue, when we had not even gotten any payment information from them. This happened for about two weeks, even AFTER we made our first payment. Their message when you call is very hostile: We are a debt collector blah blah blah, anything you say on this call will be used against you (paraphrasing here). We decided to pull money from retirement savings and just pay it off to eliminate ever having to deal with them again. The information on their official form for wiring the final payment was wrong. They have not logged in our final payment, which we had to send by registered mail. This place is a disaster. You'd be better off with any other lender. Why did they change their name? To make it more "friendly". Perhaps if they treated their customers with respect, they would not have had to change their name.
Date of experience: January 15, 2018
I have read the reviews on this site and agree. This is a problem plagued company. Please see my review on the Mr. Cooper site (unless they refuse to publish it because it is unfavorable.) My experience with them is in the past, but it seems impossible to get an escrow balance back to me. I fear they have deep internal problems. When you call them on the phone, they pass you around, but no one seems to be able to make a decision. I believe they are in the business of supporting themselves on the interest they make on all the escrow deposits. I have been waiting about 2 years and 4 months trying to get a $600 refund of escrow owing me after the loan closed. They were unwilling to allow this credit to be applied at closing, which would have been the best thing to do. I may get my money by Christmas. I have a brother who is a lawyer. I may ask them to sue since he will do it without charge, if it does not come soon. I hope their staff reads reviews on this site. What a bunch of crooks and incompetents. I am sure there are good honest people there, but I smell rotten at the top.
Date of experience: November 5, 2019
ZERO STARS! ZERO STARS! ZERO STAR! This company for truly lack of a better word "SUCKS" Problem resolution almost nonexistent and your gonna really have to work hard at ensuring your request is complete. Getting a callback as prompted is a joke! Just to get you off the line. As the call back service has only worked once in the many times I tried to desperately resolve issues, I did a refy just to avoid the next headache (surprise)
Sad for the poor people who work there!
Tip for consumers:
Double check to make sure you aren’t charged or double charged. As for explanation for answers given, answers were incorrect.
Date of experience: January 4, 2022
I have been a customer for about four years, they send me emails all the time about stuff including when they receive my payment, in March I misplaced my bill and forgot all about it, when I received my April bill it had two months owed, plus the penalty, which I wrote a check right away. I was wondering why they never sent an email reminder? So this month I am getting notes from a firm that protects my identity that they did notify all the credit bureaus that my payment was delinquent WHY COULDN"T THEY HAVE JUST GAVE ME A REMINDER
Date of experience: May 1, 2020
To all customers. Never deal with nationstar doing business as Mr Cooper. They are rip off. They will charge u fees that u didn't even know about. Try to stay away from this rip off company.
Date of experience: October 1, 2021
My loan was sold to Mr cooper. Initially I didnt mind. 2 months into having them I am told my escrow is in the negative by $3,000. This is very odd to me considering I've paid the same amount and last year I got an overpayment check of $2000. My last company said I was not in the negative at all. I'm still trying to research and figure out how this can be. My payment went up by $250. This is only our 2nd year in our home!
Then last month I noticed that on THEIR website there is a feature where you can pay a partial payment. I planned to pay half and in 2 weeks pay the other half. I still would have been 2 weeks early from when it was due. So I submitted the payment. Instead of paying half my payment it went to principle only payment. I am furious about this because on their website there is a spot where you can do principle only. That is not what I used. I clicked the spot that said "partial payment" the remainder of your payment will still be due before the due date"
I emailed them and they just kept telling me they didnt care and then would close out the email. They are the worst. I'm trying to figure out how I can get my mortgage sold to someone else. I am over this.
Date of experience: March 26, 2020
This dashboard is awful. You can't even see the amortization schedule that is supposed to be in the payments section. Bush league
Date of experience: January 23, 2024
This company deserves 0 stars they are absolutely horrible! They sent us a check for 10k in March 2019 and decided to send us a $5600 IOU shortage in NOVEMBER 2019! After speaking to numerous people on the phone affiliated with this company they said that we need to take ownership for their mistake and pay them back. SHE COULD NOT HELP US OUT AT ALL! DO NOT TRUST THIS COMPANY!
Date of experience: November 20, 2019
Started three months ago to refinance home, they drag their feet not wanting to allow you to refinance because they will loose money! Worst mortgage company ever, run from this one!
Date of experience: March 30, 2022
Their "live chat" is a virtual assistant. They admit that their hold times are 30 minutes or more. They just won't help when THEIR site fails. They tell you that hold times are long.
Products used:
mortgage
Date of experience: May 24, 2022
Hands down, worst mortgage company I've ever dealt with and I spent 10years working in the mortgage industry. Completely incompetent to the point of negligence - they will not pay your property taxes on time -EVER- and when you ask them to fix their error, the make it worse only to try and remedy the issue over a year later when the problem is now compounded and their late solution is your payment is doubled with less than 30days notification. If my current interest rate wasn't so low[which they acquired my loan, so they are NOT responsible for that rate plus they are constantly trying to coerce me into refinancing to a higher interest rate] I'd refinance with another company just to NOT be in their hands.
Tip for consumers:
Ask if your lender intends to sell your loan after acquisition and try to have input on where its sold if you can. Also, google the parent company of any mortgage company you haven't head of - typically this is a DBA for a known crappy company that has started working under a different name to escape the bad reviews.
Date of experience: December 7, 2022
Three companies handed out to third parties to do anything with this company, property tax problems insurance not updated or anything will be screwed up, USAA sold my loan to this horrible company and I can't do anything about it!
Products used:
Mortgage
Date of experience: October 27, 2022
Due to the COVID 19 VIRUS my job in march cut hours. I asked to get help with my mortgage so I wouldn't go into forecloser. I did get help with a FORBEARANCE. I've gotten 2 letters stating i'm behind in my mortagage. If your going to help someone and say yes we will help you don't keep sending out letters stating i'm behind. I know I am that's why I asked for help. People are struggling right now. Mortgages should have been put in the back of the loan. Alexandria Emmer
Date of experience: July 21, 2020
Mr. Cooper presently has my mortgage, I attempted to refinance with them. I was dealing with a David Jackson and George Decker. Everything was going good the appraisal was good then for approximately 2 weeks I was unable to talk to anyone, finally George contacted me and said that the title company found a lien could I get ahold of Kern County myself, which I did, Kern county reply was normally the title company sends them a demand to release notice, by this time another week had passed when I told George what Kern Co. Said he acted surprised, another couple of weeks passed and George copied me in an email to the county trying to push it along. Then a couple weeks later I opened an email from David and read the attachment which was a denial letter it stated incomplete application. I attempted approximately 4 times to talk with David which he never returned any of my calls. I just wanted to know what was missing from the application but to date I still don't know and I lost $500.00. Stay clear of Mr. Cooper!
Date of experience: May 14, 2020
No live agents to help keep putting you on a round about game with the computer voice mail -10 -10 -10
Date of experience: May 4, 2023
I have been on biweekly auto pay payments since May of 2020. Remember their logo, "Set it and forget it". I get a notice that my account is delinquent. They were no longer taking drafts from my account? This is a busy month and I wasn't paying attention to my drafts. They were going to charge me late fees and God forbid they would report a late payment to the credit bureau! Was on the phone for just under two hours to find out they had been diverting my payments to my principal without my knowledge/approval! Several people have complained as well about this same issue, which has been going on for who knows how long. The reviews are very concerning, and I would consider another company to be safe. The staff have been cordial, but it is time consuming and problems are difficult to get resolved if they ever do. You talk to several people trying to explain over and over the same information! They keep repeating the same mistakes with different customers. I see how they could cheat or steal from people who are not paying close attention or not savory with numbers or the internet. I do hope my problem gets solved, however I am not convinced. If you have to stay with them, please monitor your account closely because I do not feel this is an overall honest company. Read the reviews for yourself to see if u have a similar problem. They say one thing a do another. From the beginning I wasn't feeling their true honesty and customer service was bad then. I should have gone with my gut feeling. Wishing you all well.
Date of experience: November 30, 2021
I was unemployed since 9/2018 but was able to maintain payments until 4/2019. I called them once or twice a month as a sign of good faith. I spoke with one representative early on and was told that by law I have at least 120 days before my loan goes into foreclosure. I continued to make calls letting them know that I was diligently searching for a job, but I was also told that I could not apply for a loan modification until I had proof of income. By the beginning of July 2019 I called because I wanted to make at least one payment as I had borrowed from family to get that. The rep would not accept it and said they would only accept two payments, and that I should call back when I have two payments. I got a job by the end of July and called them on July 24 to tell them that I had a job and would call in for the two payments with my first check. On July 27th, as soon as funds for my first paycheck was deposited I called Mr. Cooper to make the two payments. As of July 27th I had not reached 120 days delinquency but they refused to accept my payment and told me my loan had gone into foreclosure.
It seemed as though their only concern was making sure they got to foreclose on my home. What type of collection company refuses to take payments? I was been grossly misguided about my options and this is a serious and tragic event. They don't really care about their customers.
Date of experience: July 28, 2019
The worst company with no help at all, when you call them, always "said do it online" no human help.
Tip for consumers:
nah
Products used:
n/a
Date of experience: June 16, 2023
Very unfriendly and unprofessional customer service and management! Not intuitive and badly designed company website user interface with technical glitches!
Date of experience: July 24, 2020
Mr. Cooper is even worse than Chase bank and that is stating a lot. I made a large payment to my principle balance with all the supporting documentation and they cashed the check, but did not apply it to my loan. They are keeping my money and stated they sent it out on 5/21/2020. I received a check number and a tracking number but the tracking number states that it was never requested to be picked up. So it is sitting with someone. So why they have the funds, and are collecting interest on my funds and also making me pay interest on the money I have already received from them. They have done nothing. I don't know what else to do but get a lawyer as not a single person in escalations has a clue what they are doing. The customer service reps understand, but there is nothing they can do. I need management to get involved but nobody wants to own it. I want my money applied to my loan that now is more than I own on my property. They are cheating the system! I have spoken to employees every day for 2 weeks now and nothing. Never bank with this bank they are the worst!
Tip for consumers:
Do not get a loan from Mr. Cooper, they are even worse than Chase and that is saying a lot!
Date of experience: May 29, 2020
Requested the payoff on my loan because they didn't want to bother with a refi there wasn't enough money in it for them, ok fine now you will get zero-interest for the next ten years from me. They sent me the documentation finally for the payoff I received it on a Monday and paid off the entire amount via wire transfer the very next day. Then they called and said they were short because of hazard ins the day after I paid it off so I said ok let me pay that." Well, we cant tell you what that amount is yet and we are going to charge you 8 plus dollars a day interest until we process a payoff again." Until then they are charging me 4.75 percent on my payoff amount that they already have via wire transfer. Now I am understanding why they changed their name from Nationstar to Mr. Cooper. Sorry, but you can't hide your negative reputation by a name change. Working with you has felt slimy and I will NEVER again have anything to do with Mr. Cooper. Also I see all the bad reviews about customer service they were the only decent part of working with Mr. Cooper, unfortunately, you have them hogtied with a money-grubbing shifty process on the back end that gives zero sh#t about the customer and expects them to color it beautiful, impossible task! Good riddance to the worst Mortgage Company I have ever worked with!.
Date of experience: June 8, 2022
I was required to buy flood insurance and then received a LOMA letter saying that my house is no longer in a flood zone. Mr. Cooper's website has no information on how to change the flood policy, and you have to go to another site, mycoverageinfo.com to report that the policy was cancelled. The Mr. Cooper website does not provide information about this second site in the knowledge base, and putting in a support ticket does not trigger any information about the second website. There is no way to know how to proceed with cancelling insurance without first getting a threatening letter in the mail stating that the borrow must have flood insurance or Mr. Cooper will purchase it for you. Calling customer service (I spoke to Shelby) results in a snotty, canned response. I've been working on this cancellation for over a month now, and the matter is still not resolved.
My latest called resulted in Shelby finding my LOMA letter in my files and submitting a flood policy cancellation request. Now I have to wait 10 days to make sure that they've done their job, again. Horrible document management, abysmal customer service, bad accountability, and overall shotty service.
Tip for consumers:
Find another mortage company.
Products used:
mortgage
Date of experience: September 10, 2022
Whether you are considering buying your first home or ready to refinance your 12th, Mr. Cooper is here to guide you through the process. Let's get you home.
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