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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!
My bank sold my loan to these clowns a couple months ago... I had no say in it! I made the mistake of trying to do a recast with them... 3 months later... no recast. However they did let me know that I "qualify" for a home warranty! I told the girl I would rather have bamboo shoots up my finger nails than buy anything from them!
Products used:
I am doing a new loan with Chase Bank...just to get away from these people.
Date of experience: November 12, 2021
After a year of waiting to purchase a home from Mr. Cooper they declined my offer. How I don't know but I do know I'm in a legal contract. They put the house back on the market and took someone else offer. They did this before the second lien holder approved my amount. Talk about fraudulent activities, so I filed a civil lawsuit. I'm going to let the legal system fight for me and my children. How can you do someone with a illness like that but they did they didn't care. Now they trying to pressure me into signing a mutual cancellation agreement, I didn't agree to anything, but thanks I do look forward to seeing them in court.
Date of experience: September 27, 2020
Mr. Cooper is a fraud! My mom was advised that she would have to pay for flood insurance so she purchased flood insurance through USAA & after being assigned to my mom's account, you went into my mom's Escrow and stole $974! After she purchased the insurance! USAA had your company return the money, but since then your company has found another way to get my mom's money... buy adding an extra almost $100 to her mortgage! This has to stop! She's a widow. Your company is a scam!
Date of experience: June 11, 2020
Terrible nonexistent customer service. They violate Marketing Laws as I remove myself from receiving marketing material and phone contacts and yet all I keep being inundated with marketing material and sales calls asking me to refinance. This is the worst mortgage company on the face of the earth I actually put my house up for sale so I can get rid of the mortgage.
Date of experience: May 14, 2019
Our loan was bought by Mr. Shady Cooper! And they actually come to your home and try to embarrass you by putting letters on your door... month late or so... mail it! But no they like their crappy tactics! Stop trespassing and use the mail and all their phone calls omg! Look elsewhere!
Date of experience: August 5, 2019
This mortgage company is the most incompetent company we have ever dealt with, we have been trying to add a simple escrow to our account for about a year now and they cannot figure out how to get it done. I wish Citi bank didn't sell our loan to them, I cant stress enough how much we cant stand their stupidity!
Date of experience: November 13, 2019
Mr. Cooper has lost 3 payments In 6 months. Each time I called I was on hold for over a hour and than hang up on twice. I was told on two different occasions that is was against their policy to help customers
Date of experience: September 3, 2019
I only gave them one star because it wont let me give them no stars. Mr. Cooper has no customer service. I have talked with 7 people to try to get a payoff number, I have been given different info from each. I was even told by a manager that my info would be ready on Thursday, but on Friday I am told the process just started on Thursday and it would be 4-5 more days.and of course I cant talk with that manager any more, would not even return my call from the direct line she gave me to contact her.
Tip for consumers:
get a morgage from a different company Mr. Cooper is a subpar morgage company that does not care about customer service
Products used:
they bought my morgage so i was stuck with them
Date of experience: April 9, 2021
Your business sucks! You destroyed my credit score because for 6 months you refused to accept my mortgage payment because you claimed the signature on one page didn't match the other. Even though all the papers were signed in front of a notary and you had a copy of the notary receipt. Now there is a global pandemic, people are losing jobs and struggling to pay their bills, but you refuse to eliminate the late fee if the payment is a day or 2 late. You are a money grubbing business who does absolutely nothing to support your customers. I cannot wait to the day that I can take my mortgage to another company. I have to give a start for this rating and honestly, you deserve 0!
Date of experience: July 17, 2020
Closing was pushed a week due to incompetence. Terrible service, don't ever use this company. I traveled 5 states away and was told 100% I would be closing on a certain day. The closing company still has yet to receive the documents. Currently living out of a hotel... should have used USAA
Date of experience: November 3, 2020
Went to refinance, the loan processor (and his supervisor) don't return calls, don't answer emails, or answer their phones. They changed my closing date and amount of payment, amount of loan, up to and including funding date. This happened at least six times! I still don't know what is going on and no one will talk to me to explain anything to me! I will never-ever-ever do any business with this company again!
Date of experience: October 19, 2020
Terrible customer service! I was transferred to me cooper from Quicken loans in November 2020, and made my second payment through their less than desirable app. I received a confirmation for my payment. (even sent me a confirmation email) On December 2nd, they showed that my payment had been reversed. I called in, and found our that it was reversed because I had a wrong digit in the account number. They didn't sent any info about the payment being reversed, so I didn't know until 32 days later. I have NEVER been late on any payment. It Destroyed my credit, and dropped me 111 points! Now they leave it up to me to appeal their mistake!
Tip for consumers:
Don’t trust!!
Products used:
Mortgage service
Date of experience: January 31, 2021
Entered the forbearance program and when it was complete I did not agree to their offer of 40 years at 7.75% and now I am in default, They keep telling me not to make a payment until they complete their paperwork 4 months now and that keeps putting me further behind. I have never had a late pay in 17 years and now they will now threaten foreclosure. I AM LOST and do not know where to look for an attorney
Date of experience: April 29, 2021
My mortgage recently got transferred to Mr Cooper and I have a question about my payment. MC is asking me for payment but I had previously sent check to previous company. Would like to ask about that but their customer service chat is overwhelmed. (Maybe with an avalanche of unhappy customers?) And they don't have the option of calling me back. They expect me to do the work
Tip for consumers:
avoiod Mr Cooper if you can.
Products used:
mortgage
Date of experience: February 10, 2022
Filed better business complaint on 5/27 for outstanding missing payment. Proof of usps tracking confirmation and signature by their lockbox Remitco shows. Then they emailed on 5/29 from Mr Cooper saying we will review by 6/15. Still no resolution. Do not trust them with your mortgage. They blocked payments from my account.
Date of experience: June 8, 2020
Mortgage sold right when first payment was due. No previous obligations thT were discussed at closing with other lender were upheld. Not applying my mailed payment in March and applying to account. But its usps tracking confirmation they signed for it. Wasting my time with automated calls. Then advising when they call me research is being done hang in there. But payment still outstanding not cashed. And in April they wouldn't let me online or over phone make a payment.
Date of experience: May 23, 2020
My mortgage was sold to this entity two months ago. Since this time it has been nothing but frustration and aggravation. Payments being repeatedly applied incorrectly, lackluster customer service and no apparent interest in client servicing. I'm now in the process of finding options for refinancing with another institution just to avoid the headaches.
Date of experience: January 7, 2021
Mr. Cooper has no customer support, My escrow problems from Pacific Union last year still unresolved. Now I receive cancellation notices for certain companies followed by payments the next week for the same companies. When are their executives going to know how bad they are instead of looking at stock reviews? Next move is to drive to office near Dallas and camp out until resolved. Do you think they they will plug in my $#*!ter?
Date of experience: July 23, 2019
If a -10 could be given, that wouldn't even come close to rating this evil establishment! Why do you think they had to change their name from NationStar? And then choose Mr Cooper? They have been trying to take my home for over a year now!
Date of experience: January 23, 2020
Applied for re fi. Should be easy quick simple loan on existing customer with excellent credit history. Loan to value 12% applied in july 2020. Nothing. Oct i inquire -- receive closing documents are that off by thousands (over 10,000) in cash out, payment. Interest rate not competitive. Closing cost were outrageous. They flat out lied, deceived and tried to hold off so i would just close. Loan officer did not return calls, and when i finally got him and asked why he did not return calls for 5 days, when we are suppsed to close he said, "i have been thinking". So much better deals out there. Got a 0 closing cost and excellent cash out at another company. Never again.
Date of experience: October 22, 2020
My experience with Mr Cooper is very unpleasant. Lately by the grace of God I have been sending additional payments to my principal. First I pay my due for the month, then send additional money with clear instructions: "principal only". Every single time I have made an extra, I had to waste 30 to 45 minutes on the phone to have the payment reversed because they would take interest out of it. That includes a payment that I made today 4/19/2021 over the phone with one of their agent (principal only). The first time I thought it was a mistake but after the 4th/5th time, it is no mistake. Keep your eyes wide open on your loan... and as soon as you can, move it to a decent bank.
Date of experience: April 19, 2021
I have several houses and have dealt with numerous mortgage companies and banks. In all my dealings, I find Mr Cooper to be the worst mortgage company/bank. They are also involved with Nationstar, another horrible company. They probably changed their name to Mr Cooper from Nationstar because Nationstar also had horrendous reviews. They were also investigated by several state attorney generals. I'm in the process of initiating a lawsuit against the company in civil court.
Date of experience: December 26, 2019
Mr. Cooper processes and communication timelines are outrageous. Attempting to sell my home via a VA Assumption. The process traditionally takes 45-90 days. Mr. Cooper, on several occasions, quoted 6-12 months. Once they receive the paperwork to start the process, it can be under legal review for 45 days. No phone number is provided rather a fax number and email. After hearing nothing back about updated timelines with the email address given, I reached out to their customer service rep for yet another update. Their legal review office responds to inquires in about 30 days. At this point, we are about to far exceed out expected close date as outline in the purchase agreement and will have to re-negotiate terms or find a new buyer. The worst part is my original loan was purchased by Mr. Cooper and I had no say in it.
Customer service reps were always nice, the company as a whole is just greedy. Once they got wind I was selling my home I was bombarded with marketing advertisements for a new mortgage through Mr. Cooper for my next home. I would recommend staying as far away from this company as possible.
Date of experience: May 8, 2023
Such a fraudulent company; they have violated multiple Federal consumer protection/financial laws over the years! Just look up their name and "court cases" and you'll see for yourself... shady modifications, illegal foreclosures, no communication whatsoever, they "lose" their money and your documents, etc., etc... The last four years have been nightmare because of them! I hope I get some justice! :(
Date of experience: January 21, 2022
I refinanced with Mr. Cooper thinking it would be a simple process since my existing mortgage is with them. I was WRONG. We have just passed the 3 month mark and things are still not closed. It takes days and multiple phone calls/emails for anyone to get back to me. Closing has been pushed 4 times due to mistakes on their end. I want to refinance again just to get away from Mr. Cooper. Stay away from this company!
Date of experience: July 15, 2020
We had our loan set up in 2 payments a month mr. Cooper buys our loan gives us the run around for 4 months with us inquiring every month when will our loan be in 2 payments I send in the forms all filled out correctly immediately after receiving them and still they want a full mortgage payment! Costumer service is worthless false and misleading information ask for a supervisor and still you get the same run around and they just pass you off frustrating you even more! We took pride in building our credit and mr. Cooper has messed it all up! I wish they would just give my loan back to chase!
Date of experience: March 18, 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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