Review of Mr. Cooper: Run away...
Colorado
8 reviews
2 helpful votes
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January 15, 2023

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.

Date of experience: January 15, 2023
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Texas
1 review
4 helpful votes
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Horrible service
August 19, 2020

Mr Cooper called me May 24 and stated it was a good time to refi my loan. Today is August 19 and final had my closing day schedule but 2 hours before I get a call that the loan processor forgot a document so we could not close. The loan processor Shvante Birdow is the worst. She never returned any emails or phone calls. I had to track down a manager which took until July for a return call. I shared with him all the negative reviews I was reading and he assured me that wouldn't happen. But here we are today with the same problem as 300 other people. I'm starting the process of doing a refi with someone else
They crazy thing they called me to start this process.

Date of experience: August 19, 2020
Michigan
1 review
5 helpful votes
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Bad mortgage company
October 4, 2019

They would not accept my insurance my house payment is 547 and then they said if I don't get insurance they will add their own and next month then mortgage payment is going up to 798 I can't afford to pay that now I will be filing bankruptcy

Date of experience: October 4, 2019
Pennsylvania
2 reviews
7 helpful votes
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Sneaky Crooks
February 27, 2020

They bought my mortgage out without my approval. When I tried to cell they charged $700 to provide my certificate AND it took them FIVE weeks to produce it.

When I tried talking to them about this issue they conveniently set their reply date to 5 weeks AFTER my closing date.

Bad people, bad ethics. Don't use them.

Date of experience: February 27, 2020
California
1 review
7 helpful votes
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Refinancing Hell
February 5, 2021

This is the WORST company to work with. We started our process on December 7th 2020. Today is 2/5/2021 and they say it's approved but will take another TWO WEEKS to finish. They promised a 30 day close and this is ridiculous. NO ONE will answer the phone—email only! No contact with anyone but the processor who cannot give a straight answer on anything. I will NEVER use this company again!

Date of experience: February 5, 2021
Virginia
1 review
3 helpful votes
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They refinanced my ex-wife's home using my SS#, been trying to resolve this for years! Claimed bankruptcy on this loan and they still harrass me and show this loan on my credit. There needs to be a class action lawsuit against these $#*!s!

Date of experience: August 4, 2020
Virginia
1 review
11 helpful votes
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Mortgages should NOT be bundled and sold! Consumers should be able to avoid having their mortgage handed over to incompetent, fraudulent morons like this! They have been merrily collecting my escrow for property tax and hazard insurance, BUT HAVE NOT PAID THEM! The late penalties and interest charges continue to accrue with the county, and still Mr. Cooper sits on the money!

Date of experience: November 8, 2019
Florida
1 review
1 helpful vote
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Well Mr Cooper handles insurance claims pay outs terribly. I would of never had my house done if I relied on them to pay me my money to fix my house. I was so far out of my pocket to finish my house it was ridiculous. The insurance only paid to patch my house back together. My house was built in 1956 and patching it back together was not an option because the city made me repair it up to code. Electric, plumbing all the studs and furing strips A/C dry wall roof windows so my house is completely new. Far from the cost of what insurance paid me. They play a game with your money you have to do circus tricks for your money while your contractor has to work slow cause you run out of the insurance money to pay him and cash out your 401k sell your boat and work more than usual to pay the off set till they give you your money to pay the contractor so it cost me double the amount the insurance payed me so beware if you have something happen to your house and wait for Mr. Cooper to pay you your money to fix your house

Date of experience: March 18, 2024
Pennsylvania
1 review
5 helpful votes
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Bad business practices
August 20, 2020

Mr. Cooper added 5 months into our mortgage without my husband and I knowing. We have forbarred on it due to Covid and the payment to bring our mortgage current is due in September. Not only did they add on 5 months but because we forbarred they raised our mortgage payment and tacked on fees.

Date of experience: August 20, 2020
Louisiana
1 review
1 helpful vote
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My loan was sold to Mr. Cooper a few months ago and it has been a complete nightmare from Day 1. I tried to set up bi-weekly autopay with them, which I had with my last company and never missed a payment or had any issues. I had to pay one month in advance (basically 2 mortgage payments). I did this TWICE, and they still couldn't figure out how to get it set up. When they asked me to advance pay a third time, I refused because I don't want anyone this incompetent with access to my bank account. So I set it up through my bank instead. But they didn't credit the payments correctly, then reported me late and tanked my credit score, when they had the money but just hadn't applied it! If you have a choice, DO NOT do business with these incompetent people! All the trash reviews all over the internet are for very good reason!

Date of experience: March 7, 2023
Utah
1 review
1 helpful vote
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My loan was sold to Mr. Cooper shortly before I was laid off from a job. I requested that they work with me while I was looking for a new job. It is impossible to talk to someone - you just have to electronically message back and forth. They requested vast amounts of information and documents to be uploaded - tax returns, paystubs, etc. After months of back and forth, the answer came back that they wouldn't work with me because "default is not imminent." How would they know that from looking at the past?! I was telling them I have no income in the immediate future! At any rate, it was a horrible experience. My credit score took a gigantic hit because I missed a few payments. It all could have been avoided if they had worked with me for a very short period of time. Luckily I have refinanced with another company who seems to have humans working there.

Date of experience: May 16, 2022
California
2 reviews
0 helpful votes
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Thought we obtained a fixed mortgage thing again with this company. They do these " analysis" once a year based in this a year ago they have us a check for roughly 7k saying we were paying too much into escrow. Now one year later they saying we owe 7k. They are the ones that did this " analysis " They obviously made a mistake last year when returned the overpayment and now we are paying for it. We are now paying more than we did when we initially obtained the house. Furthermore, I cannot speak to a live agent because the phone rings and rings. The virtual machine keeps picking up and get this the projected increase by 2024 is an addition 2k on the mortgage they didn't noticed me in my f the change when I went to my bank all my savings where gone to pay this undercharge. We are at a time every penny counts run run fast

Date of experience: May 22, 2023
New Jersey
1 review
4 helpful votes
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Total joke of a Company
September 2, 2021

I paid off my mortgage in 2017. I just found out that they never submitted the release of lien paperwork to the County that I live in. I went to take out a home equity loan and can't complete the process until they submit the paperwork. I have called customer service 12 times (I have to say that they may not have understood what the issue was, but they were always professional. I was referred to an Executive Resolution team member named Brenda. Helpful for first three emails. She told me that the paperwork was submitted August 4th. I asked for a copy of the paperwork work so I could reach out to the County and she refuses to respond to me. Found out that the paperwork wasn't actually sent out until August 23rd with this assclown knowing I have a mortgage transaction pending and time is of the essence. I'd live on the street before applying for a mortgage with these liars

Date of experience: September 2, 2021
California
1 review
3 helpful votes
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Junk Mortgage company
April 14, 2022

Charging fees without any customer consent or request, paying county tax late and pays penalty and taking no responsibility.
I had three loan with Mrcooper which is transferred from Rocket Mortgage, MrCooper didn't pay property insurance, County Tax and supplemental tax and Mr Cooper paid about $750.00 Penalty and I had to pay the penalty I requested the refund for the county tax penalty they denied the refund.
So, this company is no customer service and no responsible to take care customer

Date of experience: April 14, 2022
Ohio
1 review
4 helpful votes
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Nationstar/Mr. Cooper purchased my mortage from Citbank.

I record my principle every month when I make my payment. This is the 2nd time I'm asking them why my prinicple is getting bigger and not smaller.

Date of experience: March 3, 2020
Texas
1 review
2 helpful votes
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Would give zero stars if I could. Before closing, they made three significant mistakes in our mortgage process including the last one that caused our closing date to be delayed for which they notified us EIGHTEEN HOURS before the closing time. Told us two days before that everything was set and then called at 6 pm the day before to tell us about this issue. We have movers, furniture companies, utilities, family members, etc all scheduled around a closing date and they tell us at the latest possible second that they can't make the that date. YUnprofessional is an understatement. To make matters worse, the agent (Manny something) refuses to take any responsibility for his massive mistake. DO NOT USE THIS COMPANY. Wish we had seen the heap of negative reviews before moving forward with them.

Date of experience: May 5, 2022
North Carolina
2 reviews
5 helpful votes
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I have been going through a refinance with this company for 4 months. It has went to close 2 times, and each time they wait until the end of the month to tell me they cannot complete it, and I have had to wait on return funds from the title company and come up with an entire mortgage payment at the same time. You have to ask questions yourself as they do not reach out to you until they want to collect a payment. They do not want to refinance people for a lower rate even if you are approved. This has been the most incompetent and messy finance experience of my life. Do not get a loan with them, if your mortgage is sold to them REFINANCE WITH SOMEONE ELSE immediately!

Date of experience: January 27, 2021
New York
1 review
6 helpful votes
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Mr. Cooper lost my July payment and even when I showed them the proof they received it(the tracking info and their signature) they still refused to take responsibility. Their screw up cost me $196.06 in out of pocket expenses to fix. Yet they have refused to reimburse any of it after lying and saying they would. They haven't so much as apologized for their mistakes and even had the gonads to ding my credit. This company is absolutely a scam and in my opinion is a criminal empire masquerading as a mortgage company. Each and every single person I have talked to at Mr. Cooper has lied to me. I have yet to receive a single call back from "management".

Take my word for it, refinance away from this company.

NEVER. EVER. EVERRRRR. GIVE THEM YOUR CHECKING ACCOUNT INFORMATION.

I recommend everyone on here make complaints to the CFPB, BBB, Yelp and anywhere else public you can find just to get the word out. They need to be shut down before they can victimize anyone else.

Date of experience: August 8, 2020
Maryland
1 review
1 helpful vote
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Absolutely Horrible Experience
August 4, 2022

When Mr Cooper took over our mortgage I was skeptical. What an odd name for a mortgage company. At first everything was smooth. We were set up for weekly payments and Mr Cooper went and picked up everything automatically, debited our account as the previous mortgage company did. They also have a great feature to see how much more you need to pay to pay off your mortgage earlier. I thought, why not? Sounds good to me. So I added to our monthly amount. Next thing I get is a cancellation notice from Mr Cooper cancelling our weekly payment. After speaking to 3 different people, they could not reinstate our weekly payment. We only have bi-monthly and monthly payments options, they said. I said if their website was clearer I would not have added that additional money to auto payment. They were not willing to cancel the additional payment amount, nor willing to help me with my questions. They also could not explain why my next payment was going to be further delayed by 2 months, putting us behind in our mortgage by 2 months! Horrible customer service, horrible company, horrible business practices.

Date of experience: August 4, 2022
California
1 review
6 helpful votes
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Unfair practices
April 19, 2023

I got transferred from rocket mortgage it's been a complete nightmare they're telling me that I owe them A month's mortgage when I don't I'm taking it to the Better Business Bureau also going to have it audited because they are not fair at all they took money out of my account and left me with nothing I did research on them and found out that they were Nationstar the same they did there they're doing here I'm just one person however I'm going to fight them because it's unfair how they're charging me late fees when I'm not late I'm actually a month ahead so I plan on suing them and also trying to get whatever I can so that I can feel satisfied I do not like them at all they are so wrong

Date of experience: April 19, 2023
California
1 review
11 helpful votes
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AVOID.
May 3, 2022

AVOID. Mr Cooper acquired our loan from another company, and I have now spent way too many hours on the phone with them discussing all the ways they're mishandling our account. Their analysis of our escrow needs were under by more than $500, which translated to them not understanding the terms of the loan I originally signed or the amount of property taxes that we owe annually. I told them to analyze again. They did, and failed again. I've been paying the extra 500+ this whole time to make sure the proper amount was in our account to cover our taxes. I even told them why. So they improperly issued me a refund check. Then property taxes were coming due. I got multiple assurances that they would be paying ALL of our property taxes on time, and that if they didn't, that I would not be responsible for any late fees; those late fees would be paid by Mr Cooper. They missed the due date. Then they paid the taxes and charged the late fees to me. Our analysis is still wrong. Currently our account says the next time they'll be paying taxes for us will be April 2023, which means they will miss the Nov 2022 payment. How they're still in business is wild to me.

Date of experience: May 3, 2022

Overview

Mr. Cooper has a rating of 1.3 stars from 440 reviews, indicating that most customers are generally dissatisfied with their purchases. Mr. Cooper ranks 236th among Mortgages sites.

service
173
value
156
shipping
15
returns
15
quality
153
+17