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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!
I was selling my house and it was going to go past the date of my next payment. So I called them up and they said don't worry about it that there would be no late fees. Since I had never paid late before. Then right before my house closed they charged me late fees and lied to me. Don't trust this company they're always doing some shifty stuff.
Products used:
Home
Date of experience: July 29, 2022
In early 2021 Mr. Cooper bought my home mortgage.
From the beginning these people inundated me.
Bombarded with email, phone calls and postal pleas to refinance my loan.
I finally asked them to cease.
That did finally happen 2 months after I asked more than once.
Now at the end of 2021 they have sold my loan.
They sent me no notice about it.
They had no information on the website about where it went.
It is obvious that they couldn't harass me into another loan, so they sold me off.
If you can at all help it, stay away.
If you are thinking about this company, runaway at full speed.
Date of experience: January 11, 2022
The employees do not care or have any empathy for customers. I have called several time to pay my monthly fee, have been on a 3-persons phone call with my bank and Mr. Coopers escalation department. They somehow cannot find the account after verifying all of my information with the bank directly. My bank is Nusenda Credit Union, one of the best out there. No customer representative has cared to solve the issue and only care about adding fees so that they can collect more money. I have sufficient fund in the account, they say they do not take Debit card payments anymore but I was able to process one in February with no problem. That would make my nightmare of talking to people who don't care go away. They would have my money! I'm literally just trying to give them my money and they will not process my payment. They simply do not care that I have struggled and had many inconveniences with their service, app, and online website.
Date of experience: April 6, 2020
We asked for help when my husband got sick in the hospital with COVID. They allowed us to pause our mortgage with the promise of helping. When It came time to pay the piper they did nothing to help and only option was a lump sum payment. Definitely going to refinance away from this company.
Date of experience: March 24, 2022
With the continued risk of the covid-19 virus going around a whole lot of people are out of work, with my husband being one of them. I get countless number of emails from Mr. Cooper saying they will help at all costs with our mortgage. Well my husband called today 3/23/20 and was on hold for 2 1/2 hours. After such a long wait he finally got to talk to someone. We explained the situation & the guy said they can not help in ANY way. He said we can just be late & accept the late fees. They say they will help but it's a front to make them look good. It's so sad at a time like this when so many people are out of work the first place you can be safe in can be taken away from you. God help this company.
Date of experience: March 23, 2020
I was purposely dragging out paying off my loan until they paid my taxes on my home in October. They took my payments, applied them to my principal, and paid off my home early. They will not reverse the payment, now my escrow is tied up" until they release it" leaving me to pay 2400 dollars out of my pocket in 6 weeks. Please report them to the FBI for mortgage fraud. I just did, and the Consumer Financial Protection Bureau. The Better Business Bureau doesn't care, nor does the FTC. They have thousands of complaints, that was why I was dragging out my payments because of all of the complaints. They will find a way to steal your money
Date of experience: September 2, 2022
My loan was recently sold to me cooper. I tried making an account on the app and they couldn't find my loan. So I called and the recording said leave my number and they would call back. To this date I still haven't heard from them. I still haven't received a payment coupon either. Not a good start at all!
Date of experience: January 19, 2022
They cannot get anything straight. They cant give you accurate info and really messed up my checking account at Cristmas taking 2000 out twice instead of once. Im furious. They also have my fico score 100 points lower than the rest of the entire word, they stated they have to investigate and get back to me in a month. They are HORRIBLE!
Date of experience: December 4, 2019
I had a mortgage with them and in the first three months it went up $200. They bought out my original loan and when I did research I already had a bad feeling because they had bad reviews and changed their name. The will continuously try to look for anything to raise your escrow. I even put in extra money for my escrow and it took me getting consumer protection involved to get the money to post. I since refinanced my loan to get away from dealing with them.
Date of experience: March 23, 2020
Avoid if you can at all costs. Mr cooper made clerical error and directed my mortgage to unnapplied funds. They than sent me a foreclosure notice causing my credit score to drop 200. They fixed mortgage issue but my score has still not recovered even though they said they would try and help. When I called they said there was never a request to fix score.
Date of experience: March 6, 2020
This company is just terrible with terrible service. They are a mortgage company but the people who work there don't seem to understand basics of how mortgages work or how to execute simple mortgage transactions. When you ask them questions, they simply ignore you.
Date of experience: March 11, 2021
I ran into financial trouble several years ago, and had to file bankruptcy. I went through Court Ordered modification with Nationstar and they tacked on an additional $57,000 to my principal balance, which is more than 1/3 of my unpaid balance. They refuse to make an accounting of that amount, and I am forced to pay $32,000 more than what I borrowed, and have paid on the loan for 13+ years. I am reporting them to our Banking Commission and our Attorney General. All I asked for was an accounting of that $57,000, and couldn't get it.
Date of experience: January 13, 2022
This company is an absolute JOKE! They have messed up my account and refuse to fix it, all they want is your money. To many hours ad aggravation spent on this company! How they are still in business is mind blowing!
Date of experience: May 5, 2022
Total trash people starting at the top. The clueless lady in charge is a total bum. Never use these criminals. Stole 700+ from us with no answer even from their highest dimwitted broad in charge. Go literally anywhere else
Date of experience: January 3, 2020
My experience with this company was completely miserable. I don't want to bore you with all the details but the best advice I can give anyone looking to do business with this company is DON'T! Use any other mortgage company on the planet other than Mr. Cooper (Nationstar). Stay as far away from Mr. Cooper (Nationstar) as you possibly can. Never in your lifetime subject yourself to the kind of torture that doing business with Mr. Cooper (Nationstar) can inflict on your sanity. Also, they have changed their name from Nationstar to Mr. Cooper to get away from there previously bad reputation. Just because one changes their name doesn't mean that their bad business practices have changed. Need I say more? I can, but won't.
Date of experience: January 21, 2020
I originally got my mortgage refinanced through Better Mortgage and they sold it to Mr Cooper. I am really happy with their service as well as transparency of their website. The call wait time for them is also not bad. I can get a whole view of how much loan is pending as well as get an estimate of how early I can pay it off with some extra cash paid every month. After some extra principal payments, I can also see the updated time of my loan early closing. I really wanted to put this review here as I see a lot of negative reviews and somehow I haven't got that kind of experience with them.
Products used:
Mortgage
Date of experience: December 21, 2021
Since November I've been trying to modify my loan before it goes into foreclosure. I've written then, and the loan specialist Brittany Pruitt and have gotten no response. I come to find out that my home goes up for a Sale on February 19, yet all my papers have been in since December. Every time they requested paperwork I handed them in, and when I asked to speak to the specialist on a question she was never available. If the purpose was to take my home (when I haven't even missed 10 months of payments due to job loss and I was willing to work w them when I recuperated my job) why even bother agreeing to do the modification?! Why string me along? According to state law, if all paperwork is handed in to the mortgage company before 38 days prior to the sale they must stop the sale, yet they haven't! Is this how you do business?!
Date of experience: January 27, 2020
While other bank are giving 90 days relieved and add the payments at the end of your mortgage. Mister cooper does not want to do it. Told me to stop paying 3 months and the fourth Month I will have to pay 3 months plus the fourth one. This is crazy... On as this virus is gone I will look for another bank and leave this one.
Date of experience: March 25, 2020
Having faithfully paid my mortgage on time for the past four years, I naively assumed Mr. Cooper would offer some understanding and flexibility in a time of need. I approached them with a simple request: to move a single payment to the end of the loan. Their response was not only unsatisfactory but was also counterproductive to my financial well-being. Instead of helping, they proposed spreading that missed payment over the next 6 months, increasing our monthly burden when we were already facing hardships.
Their inflexible stance and lack of supportive tools are a sharp contrast to other servicers. To give perspective, even with all the criticisms Wells Fargo has received over the years, they provided better service than Mr. Cooper. It genuinely pains me to make such a comparison.
In my experience, Mr. Cooper has proven to be one of the least accommodating and most frustrating servicers I've encountered. I am eagerly looking forward to refinancing with a different institution. If you value understanding and flexibility from your servicer, I'd recommend looking elsewhere.
Date of experience: August 11, 2023
Don't know how it resolves, but they are currently "dragging their feet" on giving me a timely response to a very simple query I have in with them about a discrepancy in our refunded escrow funds amount Vs. the last shown balance (we recently paid off our loan.)
Basically, they just keep shooting me "we are looking into it" responses. There might be a legitimate reason that our refund was smaller than our escrow balance but they won't tell me, easily.
I've opened a consumer complaint with the Texas Attorney General's office. This (company's state Attorney General's office) is by far the most effective way to get some results when filing a valid complaint about a business. The BBB, not so much. In my experience, once the AG contacts them, they jump. Mr. Cooper though, may be different.
These guys bought our loan so we had no choice, but going forward, I surely wouldn't consider them for a loan. No "proof of purchase" as I don't want to include personal info.
Products used:
Mortgage
Date of experience: June 21, 2022
My mortgage was sold to this garbage company and it's been nothing short of a nightmare. Customer service is non existent. They don't care about you. Absolute trash. Do not go anywhere near them.
Tip for consumers:
TRASH. 100% TRASH
Date of experience: March 14, 2024
My loan from Seterus was bought by Mr. Cooper. In the beginning, we were told that nothing would be changed and our mortagage payment would stay the same.
Nine months later, not by a hard copy letter or email, our payent of $2,809 jumped to $3,091 in auto pay. We called Mr. Cooper a couple of times that day and nothing happened. They
Keep spinning the tale as to why are escrow account was low and we need to add an additional $3,000. They said it was Seterus problem they inherited... not true.
The customer service people are not trained on purpose as to spin people.
I will not allow this to happen. I am thinking about a class action suit...
Any of the people on this site interested? Let me know.
Date of experience: November 12, 2019
Our property sustained a loss due to hurricane Ian. Per policy, our insurance carrier listed Mr. Cooper (Nationstar} as a co-payee on the settlement check. I contacted the hurricane settlement line as was connected to the Loss Drafts Department. Was informed that if I immediately mailed the check to them, it would be endorsed and returned to me within 3-5 business days. Five business days have passed, I contacted the Loss Drafts Department again and was told that, (they have just received the check, it would be 2-3 more business days before the check would be endorsed and returned to me. Why should I be required to pay for insurance on my property, when a third party vendor controls the settlement? Avoid this lender at all cost!
Tip for consumers:
Choose a local lender if you can
Date of experience: October 24, 2022
My problems are similar to everyone here and they started when my loan was sold to Mr. Cooper. How does that even happen without a home owner's acknowledgment or consent? I am going to file a lawsuit against them. Has anyone else tried this route? It amazes me that so many people (basically anyone who has done business with them) have complaints. Are all Lakeview Loans' servicers this bad? Why are they (Cooper and Lakeview) still able to do business? Absolutely unacceptable.
Tip for consumers:
Tell us how they messed up your loan!
Products used:
Wish they never purchased my loan!
Date of experience: June 22, 2022
Well, I can concur with everything the other reviewers stated. They deliberately mismanage your funs, i. E., putting it toward your payments, rather than toward the principle as it was set up electrically to do. No one is helpful and everyone refers you to some mysterious "other department" that they claim they cannot connect you to. I asked the last person I spoke with how they manage of there is no way to email or speak to them and he had nothing to say. Our loan was sold to them but if you are out on your own, do your sanity a favor and avoid them at all costs.
Date of experience: March 3, 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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