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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!
Well, my mortgage got sold to these people not to long ago. After falling on hard times and now with this corona virus thing keeping me off work, I can tell from all these reviews that there is zero hope of keeping my home. Oh and did you know they will send a man carrying a gun to your door to deliver a message to call them? Yup, a guy wearing a gun belt and gun like a cowboy. And from what I have read about these people, it's not worth even trying to call them. I'm sorry I bought a house at all and at this time, I see no solution except to just walk away from it and rent for the rest of my life. I mean when they send armed men to you door who are not identified as police officers, these asshats are officially the gestapo. I'll sign a deed in trust and you can have the house.
Date of experience: March 18, 2020
This is absolutely unheard of, they took almost 3,000 out of my escrow account which put me negative and telling me it was for my closing costs. I have been calling and getting the same run around for a month and still not getting it resolved! Which of course they are making me pay more money on my monthly mortgage to get me caught up. They are telling me they had to take the money out for my closing costs which was paid obviously at the time of the real closing a year ago then changed to a different reason! I will take this to court if needed!
Date of experience: August 24, 2021
Applying payments in timely matter is something they cannot do. I paid on 11-3 it took them 18 days to apply. Everytime I called I was told it was not there problem. In fact they told me to pay again, because clearly I did not pay. Thought I had the bank statement showed it. I just recently financed my way away from them and they owe me $2000 they told me to expect it on 6 weeks really?!
Date of experience: December 8, 2020
I got a letter from them about a mortgage that has been paid off for over 3 years and couldn't reach anyone to correct this. I understand how Me Cooper has earned their horrible reputation, my next step is to file a complaint against them with the appropriate agency
Date of experience: November 1, 2022
We were sent numerous mailings that they could lower our interest rate. When we called, it was not true. Trying to pay off the mortgage was difficult without any reason. Had to pay money to get a payoff amounts & then had to pay for a wire transfer. Good riddance.
Date of experience: January 29, 2022
My mortgage was sold to Mr. Cooper a few years ago. I could go on and on about the piles of negative experiences. But I'll just tell one story:
August 2020. I call to ask a few questions about refinancing (trying to take advantage of lower rates). Somehow - as a part of asking these questions - my AutoPay is turned off. I, however, am not notified of this until I'm 30 days delinquent. That came with an 80(-ish) point reduction to my credit score. And, of course, they took no accountability. Several months later (and about 20 hours worth of phone calls later), I have made no progress.
(Another fun fact: when you're not engaged in AutoPay and you make a payment a few days early... well, they go ahead and take a second payment the day that your payment is actually due. Oh, and they are "unable" to undo that. So I had to issue a stop payment through my bank)
Date of experience: January 15, 2021
Mr. Cooper is the ABSOLUTE WORST. We unfortunately our mortgage was sold to them, and they starting making my life miserable. They would call me ever day, sometimes 2-3 times a day, to harass me about payment (and we have NEVER paid late) for weeks. I called them back once, flipped out on them, and didn't get a call from them for weeks. I was finally free- then it started up all over again. Then, they call basically begging for us to refinance with them. I told them I would rather lose my house and be actually homeless than refi with them.
They still call.
Mr. Cooper is such trash.
Date of experience: October 18, 2019
This is the worst mortgage company I have ever dealt with. After jumping through endless hoops just to get them to process a repair check requiring their endorsement and being told they will only send a partial amount, Mr Cooper lost the check in the mail room that was meant to be mailed out me. They will not send me a replacement check and now I am stuck not being able to live in my house since Feb 15.
Mr Cooper does not care about my situation or the fact that they are a big contributor to me not being able to repair my house while my family and I (wife 6 months pregnant) have to live with Family and friends for months. All Mr Cooper care about is that I send them a monthly mortgage payment for a house we don't currently live in and they won't let me fix.
Date of experience: June 15, 2021
Here is the email I sent to Mr. Cooper "You are very disorganized. You have stung us along for months, not answering emails, saying you've spoken to your manager about the jumbo loan back in December, telling us what our approved amount is and now all of sudden. You also said my husband couldn't be on the loan but have had him on with other companies we've applied to. I will be writing a review on you specifically and mr Cooper.
Date of experience: January 24, 2020
They literally rip you off! We try to make a payment then mr cooper will say it didn't go through and charge you ridiculous " reversal fees"
Our money has been in the bank everytime and they get us every month. Not just once they got us more than 7 times in one month w fees. We called our bank to verify they were not trying to take out their payment. They are liars and thieves...NOT RECOMMENDED. We wouldn't even give them the 1 star if we had a choice.
Date of experience: April 21, 2022
My mortgage was bought by these crooks. Their main aim seems to be messing with the escrow account (which I didn't have before because I pay my own taxes and insurance) so that they are constantly changing the amount of my payment, hoping to put me in default, no doubt. If I pay early, the entire payment automatically goes towards principle and I still owe the regular monthly payment. I have to call to get someone to change it. I'm not allowed to fill up the escrow account to avoid having it added to the monthly payment. They recently added a $15.31/additional monthly payment for an imaginary escrow 'shortfall' which is a made up number based on some random policy.
They constantly hound me to refi my mortgage. I explain that since I'm in the last 7 years of a 30 year mortgage, there's no way they can make the balance any cheaper to pay off. So a guy gave me false numbers trying to convince me that I was wrong. Not what I would call truth in lending.
Avoid them if at all possible!
Tip for consumers:
Mr Cooper is a DBA for Nationwide Mortgage based in Texas. They have been fined over 40 million dollars for treating customers unfairly.
Products used:
Mortgage
Date of experience: May 26, 2022
Possibly the worst experience I've ever had with a lender. I have 770 credit score and needed to refinance $230,000 on a $1.25M appraisal. They could not get it done, never explained why there were delays and finally quit communicating completely. Impossible to get to management and ask for answers. Horrible experience!
Date of experience: May 27, 2022
This is a lie- "A Mr. Cooper Team Member is ready and waiting to help you. Call *******432"
Phone calls, emails, nothing gets returned, let alone completed. 4 months and still waiting on a preApproved loan to be completed... 4 advisors later and no progress- this company is a joke! A circus of unprofessional clowns that have no sense of urgency, business ethics, and finishing the job! Our lives were so much better before these jokes!
Date of experience: March 21, 2020
Mr. Cooper has provided subpar service in every respect, most recently failing to pay my home insurance from my escrow on time, right on the verge of a hurricane that could be damaging to my home. Have tried to cancel auto-pay twice (with site confirmation), and yet the payment was still withdrawn.
Date of experience: August 22, 2021
Been fighting with this company for awhile now
That send you your statement to late to make your payment on time then charge you late fee.
If you send payment early they don't put it towards payment they put it in escrow or some other account and say you didn't make a payment.
I've made 17 payments in 1 year and they tell me I'm behind.
Guess a lawyer is next step
Tip for consumers:
Don't use Mr Cooper
Products used:
None
Date of experience: April 5, 2022
We purchased our first home from Veterans United Home Loans with a 3.253% and then transferred us to mr cooper with a 5.125% interest rate with good credit. VUHL will pass you down to this mortgage company 3 days after purchasing a house. Our first monthly mortgage bill was $1800, and when mr cooper took over, our monthly payment doubled! After 1.10 years living at our home, we were in default. We contacted my fellow veteran agent, and decided to sell the house. We sold our house less than 2 years. (2018-2020). And got my house buying benefits back. We look forward to buying an another house next year, this time not going with VUHL and through mr cooper. Stay away from both these guys, and do your homework prior buying/signing!
Date of experience: September 8, 2020
My loan was transferred from company A to Mr. Cooper. During the transfer, they got typed my name wrong through Company A clearly provided the correct name. After repeated calls and agent agreeing to correct the name, they still have not corrected and keep asking me to send proof. Why should I send proof for their mistake and their customer care is like parrot repeating the same answer.
Date of experience: June 9, 2022
Since day one I have paid on time and 10 years later I received a notice from the city that I owe unpaid taxes. I was very concerned and they said it would be taken care of. I have to check today but my point why did I have to make that call. I have them because my loan was purchased from HSBC. They do not know the value of NYC houses and refused me a refinance during covid because they are currently not offering it to anyone who owns their own business. Even though my record with them is flawless.
Date of experience: August 30, 2021
Mr Cooper is the WORST mortgage company I have ever came in contact with! The representatives do not ON ANY LEVEL have any experience in mortgage loans! They do not know what they are doing at all! I was approved for homeowners assistance. Where they paid my mortgage for up to 18 months. They literally still added late fees to my account and did not apply the money that was paid to the back to my account. I had to call them every single
Month because my account showed late as if the payments were not paid and they literally had over $27,000 sitting in their bank! I am so ready to change companies! Not to mention, the representatives hang up on you when they can't figure out your problem!
Date of experience: October 24, 2022
Their motive in life is you strong arm customers and finding some way to make more money.
Typical tactics: When buying loans from other companies, they close the deal such that the customer missed a particular months pay. And, then they start applying late fees on it. Any payment you pay, they just apply that to the previous month and never tell you about it. If you are on autopay, you are screwed.
They are very clever with forcing you to sign up for paperless options, so that there is no trail.
Reminders for late payment options and such never work (You have to try multiple times)
Crooks of the first kind
Tip for consumers:
Mr. cooper effin crooks
Date of experience: February 20, 2021
Mr Cooper is a company who is very dishonest. After fighting with them on late payments that were never late since we had paid several months a head so it couldn't have ever happened and we paid bi weekly so that they had the money early. We decided to just pay off the loan and we did. Then they lied many times saying that they sent our escrow back to us and lied about it for over 90 days. We finally call the Federal Government over consumer affairs and the AG office and had the money the next day. We a horrible company and full of $#*!. Never do business with them.
Date of experience: August 9, 2019
Mr. Cooper should be embarrassed and ashamed of their horrible slow and cumbersome business practice when it comes to returning insurance money to the homeowner. After getting hit by an EF3 tornado we have been waiting for our insurance money to be endorsed by Mr. Cooper and returned, so we can complete our projects. I. e. Roof, windows, exterior of house etc. We've had to float ourselves $60,000 while we wait and Mr. Cooper invests and earns interest on our money and creates a tone of paperwork and bull$#*! requests. They suck.
Date of experience: February 11, 2020
My escrow balance was calculated at the end of 2019. In March, I got my monthly mortgage and they said that my escrow had a negative balance of over $8,000, therefore my mortgage payment was going up over $600 a month unless I paid the $8,000. I'm an accountant and recalculated my account. I used their spreadsheet and put in the correct numbers. They had doubled the charges for my home owner's insurance, plus a few other errors. I've contacted them over and over, called, emailed... etc. No response, so I'm making this huge mortgage payment every month (when this pandemic is occurring and I have NO ADDITIONAL MONEY!) in order not to be fined for not paying the full amount. When I have gotten through to them, they have me on hold for over 4 hours, then they hang up. The people that I have spoken with don't even understand what I'm asking. They are too ignorant to do their job. DISGUSTING! I wish that I could dump them!
Date of experience: June 1, 2020
Mr cooper purchased my mortgage and every since it has been a nightmare. They did not pay my hazard insurance on 3 occasions until my insurance dropped me. When I called my insurance company they refused to do business with mr cooper regardless of what I did. They stated this was not the only time they have had this same issue with
Mr Cooper. I had to get insurance at a different company with a higher premium. Now to current day. I kept getting letters from mr cooper how was already serving my mortgage... wanting me to refinance at a new lower rate. Let's just say after 12 weeks my only goal is to move my mortgage to another company. Save yourself the headache. Do not do business with this company.
Date of experience: December 9, 2020
My mortgage was sold to Me. Cooper. My previous company for 27 yesrs, no problems. This company can't even give you a payoff over the phone. Why, because they don't even know. It takes them a week to figure it out. Its a strategy they use hoping you don't want to pay off your loan early. Stay far away from this company. PS. Customer service or robotic Customer service is very poor.
Date of experience: March 20, 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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