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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!
We were transferred to this company. They claim that our loan was discharged in a bankruptcy. They were sent all information to prove that this is not the case months ago. We have never been late. Except when they took 1.5 months to send us the new account number. They have not fixed the issue. We have recieved paperwork asking our intention to vacate. All statements have a bankruptcy disclaimer. Now They have adjusted the interest and principal amounts to match down to the exact penny of the prior, but far less on principal and much more on interest. Customer service refuses to acknowledge the issues. Absolutely the worst mortgage company.
Date of experience: April 14, 2023
Mr Cooper paid my homeowners insurance twice and then did an escrow analysis which raised my payment substantially. They not only refused to take any responsibility or actions to help restore the error, but they also made it very difficult for the insurance company to refund the overpayment. When my insurance company finally was able to get the money back to them, they held it for two weeks before putting it back in my escrow account. Then another week to prepare a new escrow analysis. I was forced to pay one payment at the erroneously high amount. I filed a complaint with them and got a letter back saying that they would have a response no later than July 24. It is now August 5 and no sign of a response. Borrowers need to have some rights including input on who the servicer should be. Mr Cooper bought the servicing from the lender that originated the loan; the loan itself was sold to FNMA. Complaints pending with state regulators and BBB.
Date of experience: August 5, 2023
Terrible. Been with them for years and never missed a payment. Switched over autopay at my bank and some sort of glitched happened. We ended up missing a payment and didnt realize it until a month later. We immediately paid it however they already reported it to the credit agency. Not even 30 days and no leeway for glitches like this. Now, our credit is all messed up and they wont even consider working with us to have it removed.
Date of experience: July 14, 2023
I have has mr Cooper as my mortgage company for 14 years. I finally decide to sell my house and the title company requested payoff from mr Cooper. They sent it over and it has a 30 day guarantee of payoff amount. Everything is set for close. 5 days before close they sold my acct to servbank. I spent hours on the phone with servbank and they say it takes 7-10 days to onboard the new acct. So now we can't close and the buyers have a reason to back out of the sale!
Date of experience: April 24, 2023
My mortgage was sold to this company in June of 2022. I had an escrow analysis in Oct and made an almost $2000 deposit. Then in Feb of 2023 another analysis was done stating I needed an additional $1000 plus. I only need to have 2x my escrow payment after taxes and insurance according to them. When I did my calculations I will have double that when next February comes. I can only hope my mortgage is sold before I have any iother ssues with them. I feel ripped off.
Date of experience: March 18, 2023
The worst company I've ever dealt with in my life mr. Cooper handles paperwork like a bookie at a bar. People heed the warning run from these thieves. Any class action lawsuit out there with copper please advise.
Date of experience: December 19, 2019
I am convinced there are no humans working in their customer service department - I think they rely exclusively on automation. When you call, it's not possible to talk to an agent, even when you press zero multiple times. It just says "sorry, that is not a valid option". Support tickets go unanswered. I know because I have submitted three. Chats are answered by a bot. I realize that support agents are an expense, but you're in the mortgage business where people's wealth and assets are on the line. I find them despicable.
Date of experience: March 1, 2022
Mr Cooper received our mortgage payoff, but still hasn't applied it to the principle after more than 1 week and will now be assessing fees. They paid the insurance early, so I had to make an additional payment to bring the total up, but still nothing applied. They won't discuss - "try again in 3 working days" They have my money and no accountability. Don't trust them!
Date of experience: August 12, 2022
It is hard to describe how bad this company is. They are the definition of predatory lender. They were sued multiple times under their previous moniker - Nationstar - so cleverly changed their name and are trying to screw people anew…I won my legal fight with them, but don't do business with these jackals and you'll avoid the tremendous headaches that surely come doing business with them…
Date of experience: October 21, 2021
I have been in the Real estate business for 37 years and have yet to deal with a worse mortgage lender. Deadlines mean nothing, never a call back. This company was given 52 days to close a deal, we were promised 7 days before closing that they were ready. They had the buyer sit at the title company for 2 hours before telling them they didn't have a clear to close. Now we are 58 days down the road and everybody has closed but there is no money available. The phone numbers they sent out on the closing instructions don't work. Stay Away.
Date of experience: August 13, 2020
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!
Tip for consumers:
Your finances/home are too important to trust to a company this corrupt and incompetent.
Products used:
My mortgage was sold to them without my knowledge and I deeply regret it
Date of experience: March 7, 2023
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
Tip for consumers:
Run
Date of experience: May 22, 2023
Mr Cooper is a thief i did a loan modification back in 2013 i originally borrowed $*******. 00 back in 1997 after my loan modification making payment for 21 years i still owe $******* they come up with all kind of excuses why please please find another bank run do not sign with Mr Cooper it's an evil empire
Date of experience: April 28, 2020
This has been the worst company to ever deal with! Our house caught on fire on Oct 27,2019 while the mortgage was with JP Morgan Chase we sent the insurance check into chase prior to the loan being sold to Mr. Cooper on Dec. 3,2019. Chase sent the funds to this company and now they don't know where the funds are and have us filling out paperwork after paperwork during the whole time interest keeps accruing. Can't get a supervisor on the phone or have one call you back and customer service just likes to punt you to another Dept.
Date of experience: December 20, 2019
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
I don't foresee this company going very far - if they don't file bankruptcy in the next year - I'd be surprised, these guys are vampires and not even good at it.
Tip for consumers:
Satan worshipping clowns
Products used:
Homeowner
Date of experience: September 27, 2023
I pay my mortgage every other week and each time one of the payments is misapplied to principal only. I must call when I catch the mistake and each time I'm told my hierarchy will be changed. I NEVER is. The customer service reps either don't know what they're talking about or very poorly trained that they mislead their customers giving them bad information knowing there's no accountability. My loan was fine until being sold to Mr Cooper. Avoid if possible.
Date of experience: August 23, 2020
My experience with getting year end tax statements and any other documents from Mr. Cooper has been absolutely horrendous. While the people answering the phone may be helpful, retrieving electronic information is nearly impossible. I would not recommend Mr. Cooper especially for home loans.
Date of experience: March 3, 2022
We are in the final stage of our 30 year mortgage with less than 5 years to go when CitiMortgage sold our loan to Mr. Cooper.
Mr. Cooper's website does nothing for current mortgage holders. They not only do not have an amortization schedule you can use for your loan on line, They can't even tell you your current payoff month/year with extra principle payments we have already made. I was told that about 6 months before payoff, we will get a letter. Guess by then they have it figured out.
This is basically a payment facility. What a joke.
Date of experience: February 20, 2020
Pretty terrible customer service. Refused to pay taxes from escrow and, after 3 months of trying to get a response from Mr. Cooper, I just paid out of pocket. They also stuck me with all the late fees. Morons actually sent me a refund check for my escrow over payment. Terrible company that has an apparently completely automated system they cant do anything about.
Tip for consumers:
Don't use
Products used:
Home loan
Date of experience: March 13, 2021
My original loan processor sold my account to this awful company. In the process, they stopped paying my property taxes somehow, and it took nearly 3 months to get them to correct it. A few months later they called and offered a rate reduction loan. Simple enough. 30 day estimated turn around has now been more than 60. They do not return calls or emails. They do not provide updates on what is taking so long, other than "we are really busy", and they repeatedly ask for items that have been provided, that are still sitting in their queue which even I can see on their website. These clowns are a joke and not worth the time. Stick with a company that cares about the customer.
Date of experience: September 3, 2020
I have dealt with Nationstar/Mr Cooper for years and never had an issue till now. I've been trying to resolve the non payment of my property taxes from my escrow account since April. Every time I call I get a different person and have to start all over. After several calls and on line chat nobody has done what they promised. I've been passed on to different departments and followed instructions to no avail. I don't know what else to do other than BBB or FTC. Very frustrated and Angry at this point. Nobody acknowledges e mail or responds. Nobody calls back or follows up. I am disgusted.
Date of experience: July 12, 2022
"MR. Cooper" bought out my loan from another company. I told them I was moving prior to them assuming my loan, they still cant give me a payoff after 4 days-they originally said I could get it Aug 1st, then the 5th, now the 6th, With today's technology, they should be able to have this on day one.
Date of experience: August 4, 2022
My husband was granted a tax free certificate from our county. When we reached out to Mr. Cooper the sales associate assured us it will be taken care of. After several attempts they did not honor my husband's certificate. We took matter into our own hands and now Mr Cooper put us into a collection agency. He is legally entitled have the taxes taken off the mortgage but but you deny him of this right. Shame on you.
Tip for consumers:
Do not hive Zane Cooper your business
Products used:
None
Date of experience: December 26, 2020
Had property damage at my home submitted all of the endorsed Checks and paperwork required and going over 2 months and still haven't received my first draft. Calling customer service and being told it's with corporate waiting for action for two months. When I call over and over again to try to speak to a supervisor I am spun and they out right refuse to give contact information for any one in corporate to log a complaint. I will never use this company again and will tell everyone I know what a nightmare my experience has been. I feel like I'm the victim of consumer fraud!
Date of experience: July 30, 2020
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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