Mr. Cooper

Mr. Cooper

 4.5/5 (485 ratings)
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Mr. Cooper
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About Mr. Cooper

Mr. Cooper is a nonbank mortgage lender and a registered service mark of Nationstar Mortgage (NMLS #2119). It offers conventional and government-backed purchase and refinance loans and publishes its current rates online every day. It also provides convenient calculators to help you figure out how much you can afford to borrow, how much house you can afford and how much you can save by refinancing. Mr. Cooper is licensed to operate in all 50 states as well as Washington, D.C., Guam, Puerto Rico and the U.S. Virgin Islands.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • Online pre-qualification tool takes minutes
  • Online loan tracking
  • On-time closing guarantee
  • Pays local moving costs in some areas

Cons

  • No locations for in-person service
  • No USDA loans

Bottom Line

Mr. Cooper generally offers competitive interest rates on home purchase and refinance loans. You can apply for a mortgage, see rates and monitor your application online through Mr. Cooper’s website.

Mr. Cooper Reviews

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Page 2 Reviews 5 - 35
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 19, 2023

Refinancing with Mr. Cooper was quick and easy and everything fell into place in a timely manner. They walked me through the application process. The two people I worked with were good. They knew what they were doing.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 19, 2023

I had bought the house and remodeled it and done a lot of remodeling on a credit card, so I had a lot of credit card debt. I assumed that since the house was worth more, I would be able to refinance it, but for some reason, no one wanted to refinance it. Since Mr. Cooper had bought my mortgage and I had a very low interest rate, I thought, "Well, it might be good for them to refinance too, because they're gonna get a better interest rate now that the rates were up." So, I contacted them, and they looked at it and said they would refinance, and everything went smoothly. It was a very easy process.

The representatives were all very attentive. I had two people I dealt with. Jessica and Christopher were both very attentive, got right back to me when I had questions and answered them, and I was very pleased with the whole process. It always seems like when you're doing a refi, you run into a surprise, and I didn't have any surprises this time. I would recommend them to anybody.

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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: Jan. 18, 2023

The Mr. Cooper rep I worked with was very knowledgeable and kept in contact with me. When I had questions, he got back with me within the same day. He was very aware of what I was trying to do and he was very concerned. As far as the underwriting, one of the young ladies that I was working with at first all of a sudden disappeared. Every time I tried to get in touch with her, she was never there. So, they gave me to somebody else in that department and he worked out pretty well. He still didn't get back to me like the representative did, but he made sure that when he was on the phone with me that the person from that office was also on the phone with me. Overall, working with Mr. Cooper managed to get rid of the whole bills I had. I would do it again. Try Mr. Cooper before you go anywhere else.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 18, 2023

I was very pleased with how everything turned out and with everyone that worked with me at Mr. Cooper. We did it all through email. The rep was very clear. If I had any questions, they were available. I didn't have one bit of a problem. They had to send a notary public out to finish it all off and she was also excellent. I was very impressed and I would definitely recommend them. I'm very happy with them.

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Resolution In ProgressRated with 1 star
Verified Reviewer
Original review: Jan. 15, 2023

If your mortgage is taken over by Mr. Cooper (formerly Nationstar) …. *January 2023…run - don’t walk – to refinance with another company. Better yet, pay off your house as quickly as you can. I’m definitely not venting, but only trying to inform others of their heinous business practices. Had we known in advance that no one in Mr. Cooper is capable of communicating, I might have taken a different stance.

A mortgage company that doesn’t assist their customers? Just creating the log in, going through the settings, alerts – all of it – took several calls. Why they didn’t they send out instructions, instead of forcing customers to call for help is beyond me. It all should have been in the ‘Welcome letter’, and that very document should have been called a ‘Shock Statement’. Of course, our previous mortgage company (USAA, that we thoroughly researched and selected) should have informed us of the acquisition. Ha – we had never heard of Mr. Cooper. What a way to treat us Veterans, who, in some cases – willfully gave their lives protecting our country.

Problems continued with every question, and I asked a myriad of them. Here’s a kicker – I even tried the secure message center for one of my questions in an attempt to avoid another uneducated person. The answer was and 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 6 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. ** (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 aaannnyyy 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 ** – 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. Here’s her email signature:

Contacting Jennifer ** (never located her exact title) was also useless. No, I never found her number, and Amber ** 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 ** (office phone **) 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 ** 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.

Mr. Cooper response
I appreciate you informing us of your experience. It is my goal to make every attempt to resolve your concerns to the best of my ability. I will follow up privately with a resolution to your concerns.
Kalie Ezenwa

Community Manager

You are welcome to call our escalations line at 888-509-2432. Since it's a small team, we are here Monday - Friday from 8 am - 5 pm CST. If there's something I can assist you with, I'm happy to help - you can email me at Social.Media@Mrcooper.com. Thanks!

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 8, 2023

The process at Mr. Cooper was flawless. They were wonderful. There were two people I worked with and they were both amazing. They answered all my questions, got me my forms, told me what I needed to do. Mckenzie was very customer service-oriented. She wanted to make sure I had a good experience. She took her time and was very patient and kind. I felt very supported.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 8, 2023

The reps at Mr. Cooper were very helpful. Since my refinance, it's easy to pay my bill online and see how much I owe.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 7, 2023

We have an existing loan with Mr. Cooper and I just uploaded some stuff that they asked for. I would encourage people to use them because it was much simpler than having to go through somebody local to refinance. With using somebody local, the process takes longer. You have to jump through a lot more hoops and you have to go to them. With Mr. Cooper, it was all done over the phone and the computer, and then somebody came to my house to sign the papers.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 7, 2023

The refinance process was good. Mr. Cooper is easy to use.

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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: Jan. 7, 2023

Everything was seamless with Mr. Cooper and their process was streamlined. Their reps were excellent and prompt. They answered my questions and if they haven't, they've been able to get somebody else to do so.

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Resolution In ProgressRated with 1 star
Verified Reviewer
Original review: Jan. 7, 2023

They are required by law to assign a 'Dedicated Loan Specialist' for each mortgage holder. They assign that person but then you can NEVER get a hold of your 'Dedicated Loan Specialist'. You cannot call that person or email them and when you call in and ask for that person to call you back they pretty much never do. So in effect, Mr. Cooper just regularly breaks the law. They are gangsters, if they can get together then they can get above the law, I think they call it strength in numbers but it is actually scamming with numbers!

Mr. Cooper response
I appreciate you informing us of your experience. It is my goal to make every attempt to resolve your concerns to the best of my ability. I will follow up privately with a resolution to your concerns.
Kalie Ezenwa

Community Manager

You are welcome to call our escalations line at 888-509-2432. Since it's a small team, we are here Monday - Friday from 8 am - 5 pm CST. If there's something I can assist you with, I'm happy to help - you can email me at Social.Media@Mrcooper.com. Thanks!

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 7, 2023

Mr. Cooper is easy to work with. Every instance with their customer service has been very helpful. We're happy.

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Resolution In ProgressRated with 1 star
Verified Reviewer
Original review: Dec. 30, 2022

Mr. Cooper messed up our title when we paid off our mortgage. They transferred title to the wrong trust name. This mistake makes ownership of our home unclear. We had a death in the family, so we did not catch the mistake until much later. When we tried to fix this with Mr. Cooper, we got the runaround. After two months, they finally said that they could not do anything about it. Now we have to fix it with the County and a lawyer.

Mr. Cooper response
I appreciate you informing us of your experience. It is my goal to make every attempt to resolve your concerns to the best of my ability. I will follow up privately with a resolution to your concerns.
Kalie Ezenwa

Community Manager

You are welcome to call our escalations line at 888-509-2432. Since it's a small team, we are here Monday - Friday from 8 am - 5 pm CST. If there's something I can assist you with, I'm happy to help - you can email me at Social.Media@Mrcooper.com. Thanks!

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Dec. 25, 2022

The refinance process with Mr. Cooper was very smooth. It wasn't stressful. I provided all the documentation and it was really good. They were very helpful from start to finish. They were very professional. They were truly efficient and it was a very fast process. Also, they were trustworthy and very honest. I got a good rate for what I did. Mr. Cooper is really great. I'd recommend them if anyone asks.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Dec. 24, 2022

From application to closing, our experience with Mr. Cooper went really well. The original person I talked to was really good, very friendly and helpful. The girl that was emailing me and talking to me about all the loan stuff was really great, too. The only thing is we didn't plan on refinancing. We planned on getting a home equity. We did it because when we were trying to sell our house, they found out we had septic issues and we had to have it all replaced. So, that was close to 30,000. What was suggested by the original person I talked to is to just do a refinance rather than get a home equity. So, I wasn't really happy about that because it made our rate go up.

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Rated with 3 stars
Verified Reviewer Verified Buyer
Original review: Dec. 15, 2022

My refi experience with Mr. Cooper was fine. It was not the first one that I've done with the company, so I was familiar with what was going to be required of me. The initial rep I worked with was Chavonn, and she was great. She was very good at keeping me informed of things. On the other hand, the second individual, the loan processor, was not as easy to work with. I didn't appreciate working with him at all.

The loan processor was really bad about giving accurate information. That bothers me in situations like that, when you're dealing with such large sums of money and such long portions of your life being responsible to it. I want to be told what's accurate. I don't want to be given any fluff or shine on the matter. He was more concerned with pretending he was a big shot than he was dealing with my loan. I wasn't too happy with the new rate as well, but that's not Mr. Cooper fault. I'm on the low end of what was available for the refinance timeframe. There were options that we could have done with mortgage but everything was amicable when it was discussed with the rates.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Dec. 13, 2022

My refi went really smoothly. There was great communication with the loan officer. They were also very courteous and nice. Any questions I had, they helped.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Dec. 8, 2022

Sadly, the interest rate wasn't where I wanted it to be. But that's not their fault. It’s just how things are right now. Refinancing was super fast and really easy. I didn't really have to go anywhere and deal with anything. I just did it right from my phone so that was very convenient. The reps were all great. Our rep Lisa was very attentive and helpful. I had a lot of random questions because I wanted to make sure it was the right thing for my family, and she was able to help me through all of it.

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Rated with 3 stars
Verified Reviewer Verified Buyer
Original review: Dec. 7, 2022

The application process was fine. The rate was a little higher than expected but the market was influx at the time so it may have snuck up on me. We didn't get as much back on the refi as we were expecting. Other than that, refinancing with them gave peace of mind. I was able to get some bills paid off.

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Rated with 1 star
Verified Reviewer
Original review: Dec. 6, 2022

I am a new customer and I was reported to the credit bureaus :( because the Mr. Cooper team did 2 wrong escrow analyses. I kept making auto-payments from my bank acct but still Mr. Cooper reported me late and ruined my credit score!! PLS FIX THIS... CFPB # ** Kumar **.

Mr. Cooper response
I appreciate you informing us of your experience. It is my goal to make every attempt to resolve your concerns to the best of my ability. I will follow up privately with a resolution to your concerns.
Kalie Ezenwa

Community Manager

You are welcome to call our escalations line at 888-509-2432. Since it's a small team, we are here Monday - Friday from 8 am - 5 pm CST. If there's something I can assist you with, I'm happy to help - you can email me at Social.Media@Mrcooper.com. Thanks!

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Rated with 1 star
Verified Reviewer
Original review: Dec. 6, 2022

We had no problem with Mr. Cooper originally until we refinanced our home at the end of 2020. In mid-2021 we started receiving letters that we owed payment but in our payment portal, it showed we were up-to-date and we were sending payment every month. At the beginning of 2022, we were notified they were going to foreclose on our home. Apparently, a mistake was made on their end during the refinancing process which resulted in us owing $15,000. They acknowledged it was their mistake, but they would only knock off 5,000 and we would have to pay $10,000 in cash within a few weeks or they were going to foreclose on our home. We ended up paying every bit of savings we had in order to save our house.

Then, within six months we started to receive letters stating we owe the $5000 that they were supposed to eat! For their mistake that has already costs me thousands! We have contacted the “executive resolution team” member who originally helped us and he says to wait for the automated system to update. It’s been at least 8 months and we received our second certified letter yesterday (12/5/22). After the stunt they pulled earlier this year forcing us to pay for their mistake, I’m terrified we could lose our home because they can’t get their act together. We have three young children.

Mr. Cooper response
I appreciate you informing us of your experience. It is my goal to make every attempt to resolve your concerns to the best of my ability. I will follow up privately with a resolution to your concerns.
Kalie Ezenwa

Community Manager

You are welcome to call our escalations line at 888-509-2432. Since it's a small team, we are here Monday - Friday from 8 am - 5 pm CST. If there's something I can assist you with, I'm happy to help - you can email me at Social.Media@Mrcooper.com. Thanks!

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Dec. 6, 2022

Everything went smoothly. The lady who walked me through was exceptional. She held our hand through the whole thing which was nice. The only thing that I was annoyed with was that I did a partial payment for credit cards and auto loan and instead of making the funds out to me, they made it out to a bank and one of the checks got lost in the mail. Other than that, they kept up with me very well and any time I had questions, they answered them within 12 hours. I would like to have a better rate, but it wasn't too bad of a hike for a refinance.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Dec. 5, 2022

Working with their reps was excellent. Everyone whom I've dealt with was very informative and walked me through step by step. They kept me apprised of where we were in the refinancing program. Since refinancing with them, I've reduced my debt.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Dec. 4, 2022

I had a very good experience with Mr. Cooper. They were very helpful.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Dec. 2, 2022

I got an equity loan from Mr. Cooper and the communication with the rep was very good. Everything went well and I’m satisfied.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Dec. 1, 2022

They were good.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Nov. 30, 2022

They were super friendly, helpful and very responsive. They were great to work with. We had shopped around a little bit and had other quotes, and they matched the best quote that we got for our interest rate. So, that was a nice thing. It was an overall great experience with Mr. Cooper.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Nov. 29, 2022

I had an awesome experience with the reps of Mr. Cooper. My refinancing process took a month.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Nov. 28, 2022

I liked the dashboard of Mr. Cooper. Charlie was also one of the guys I was dealing with. They were all really knowledgeable and did a good job.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Nov. 24, 2022

The application process worked out well and everything was good. The rep I worked with was great. She was very friendly and helpful. The only problem we ran into would be the settlement people who were hired by Mr. Cooper. They took the money during the settlement for the last quarterly tax for the township here, but they never paid the bill. Now, I got a notice for a tax sale on the property. So, we're trying to get in touch with them to find out why the payment wasn’t made. Everything was cool up to that part of the deal. Other than that, I was happy with Mr. Cooper and I would recommend them. They got right back to me, which was a nice experience. And even though I didn't get in touch with anybody, at the moment, they certainly responded in a timely fashion back to me.

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Mr. Cooper Company Information

Social media:
Company Name:
Mr. Cooper
Company Type:
Public
Address:
8950 Cypress Waters Blvd
City:
Dallas
State/Province:
TX
Postal Code:
75019
Country:
United States
Website:
www.mrcooper.com

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