Follow us:
Mr. Cooper

  1. Home
  2. Mortgages
Mr. Cooper
AUTHORIZED PARTNER

Mr. Cooper

 4.4/5 (585 ratings)
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars
Saved
Mr. Cooper

About Mr. Cooper

Mr. Cooper is a mortgage lender that specializes in new home loans and refinancing. The company offers a closing date guarantee and fast online approvals. You can monitor your loan’s progress through the Mr. Cooper app.


Overall Satisfaction Rating

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

Pros

  • Closing date guarantee
  • Fast approvals
  • Rewards program

Cons

  • Limited rate information on site
  • Prepayment penalties on some loans

Bottom Line

Mr. Cooper is one of the largest mortgage lenders in the nation, offering competitive interest rates on new home loans and refinancing. You can apply for a mortgage and monitor your application online.

Top Mr. Cooper Reviews

Why Trust ConsumerAffairs
How do I know I can trust these reviews about Mr. Cooper?
  • 3,394,562 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Rated with 5 stars
Verified

The people that helped me with refinancing my house were very helpful and knowledgeable. They answered all my questions. If I had to leave a message they always returned my phone ...

Read full review
Rated with 5 stars
Verified

Mr. Cooper is my primary mortgage company and I wanted to do a refinance to lower the payment. Their reps were good and we finished the process in about a month. I’m satisfied wit...

Read full review

What is Mr. Cooper?

Mr. Cooper is one of the nation’s largest home loan servicers and offers refinancing for existing loans and mortgages for new home purchases. It prioritizes simplicity in the homebuying or selling process, providing customers with a fast, low-stress experience. Borrowers can get prequalified online in minutes and receive a same-day approval letter when ready to buy.

Mr. Cooper also features a Real Estate Rewards program. The company uses the Xome network of real estate agents to offer savings on commissions and closing costs, keeping your homebuying or selling costs low. It has a U.S.-based customer service team and focuses on its customers’ needs.

You can track the status of your mortgage application online and manage your account with its mobile app. Borrowers can make payments online with no extra fees. Mr. Cooper also guarantees an on-time closing or the company pays your first mortgage payment.

Mr. Cooper mortgage rates

Mr. Cooper’s mortgage rates vary based on the housing market at the time of closing, your credit history and your loan terms, but it typically offers competitive rates. It provides options for lowering your interest rate, including fixed- or adjustable-rate terms and fees that can be paid directly to the lender. Ask your lending agent about which discounts you may qualify for. You can also check its website for more information and resources on interest rates.

Mr. Cooper FAQ

Can I pay Mr. Cooper with a credit card?
Mortgage lenders typically do not accept credit card payments. Online payments must be made through a bank account.
How do I make a payment on Mr. Cooper?
You can make payments online, over the phone and by mail. You can also set up autopay using Mr. Cooper's website.
Is Mr. Cooper a real mortgage company?
Mr. Cooper is a real mortgage company. It offers new home financing and refinancing for existing mortgages.
Does Mr. Cooper offer home equity loans?
Mr. Cooper offers cash-out refinancing that lets you trade home equity for cash. Call for more information or request a consultation online.
Does Mr. Cooper report to credit bureaus?
Mr. Cooper does report mortgage accounts to credit bureaus. The payment history on your account typically has a significant impact on your credit score.
What bank is Mr. Cooper?
Mr. Cooper is a nonbank mortgage lender. The company is a registered service mark of Nationstar Mortgage, LLC.
Does Mr. Cooper have a prepayment penalty?
There may be a prepayment penalty, depending on the type of loan you have. Some loans have a prepayment penalty, but others do not. Read your mortgage’s fine print or ask a lending agent to see if yours has a penalty.

Is Mr. Cooper legit?

Mr. Cooper is a legitimate mortgage lender that provides new home loans, home refinancing and cash-out refinancing. It offers competitive interest rates and typically has satisfied customers. This nonbank mortgage lender providers a variety of loan perks, such as discounts through a realtor network and a closing date guarantee.

Mr. Cooper Reviews

Over 10k reviews since 2012
Sort: Top reviews
Filter by: Any

A link has directed you to this review. Its location on this page may change next time you visit.

How do I know I can trust these reviews about Mr. Cooper?
How do I know I can trust these reviews about Mr. Cooper?
  • 3,394,562 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 5
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Aug. 20, 2021

I left a couple of phone calls to Britanny over a question I had after everything was over with. But she never got back to me. Ivan answered them and took care of it. I gave them my girlfriend's email, as I don't have one, and then I told them this was only for this and it's not to be used after that as this was only done as a favor, but they kept sending emails to her phone. It got to the point where every least little thing was sent like, “Hi, Bertha. This is Mr. Cooper.” As of now, they finally stopped sending. Also, they sent the check to me for Swiss Colony for $21 and that bill was paid. I called the company and they said I gotta get in touch with my mortgage company. I got Ivan and he said that I gotta email. I told him that I do not have one and the email I gave them was my girlfriend's own and since Mr. Cooper sent so many things to her, she will not do anything email-wise for me.

The biggest problem with Mr. Cooper is you never know what state you're talking to and if you have to follow up on something, you talk to one person, then when you call back, it's somebody else, and you gotta start all over again. Like now, they would pay my property taxes, which were due August the 1st. But our town extended it to August 25th before any interest in that was done. I had talked to Mr. Cooper about it and they said they are going to pay it before that.

I always check on that because all my property taxes come through, I get a copy for the four quarters for my record saying, “This is not a bill,” which tells me the original bill's being sent to my mortgage company. When I get property tax bills that don't say, “This is not a bill,” there's a problem, then I call Mr. Cooper. I call my tax office first and they tell me they needed some sort of paper. Whoever I talked to didn't have any idea about it. I told them that since I've been with Mr. Cooper, it's been paid over time. But it was finally taken care of. Now, there's a different company that handles that, it's not Mr. Cooper anymore. Overall, I’m very satisfied. They are a very good company.

Be the first one to find this review helpful

Not sure how to choose?

Get buying tips about Mortgage Lenders delivered to your inbox.

    By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. Unsubscribe at any time.

    Thank you, you have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.

    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: March 2, 2021

    We were very happy with everything that Mr. Cooper provided. But our experience with the closing was frustrating. We were asking for copies of the paperwork and it seemed to delay everything. The person that came to close with us told us there was a particular document that we didn't have to sign, and so we didn't. But then it slowed the process because we did have to sign it. Also, there were a couple of times when I made some phone calls to Mr. Cooper to inquire about things, and I did not get phone calls returned. But in the long run and overall, that aspect was good.

    When we were talking about refinancing and then trying to get information about our loan in general as far as what we needed to do with making payments, one department doesn't seem to know completely what the other department might be doing. When I was trying to find out did we need to make that payment for that month or would we be finished with the closing before that payment came due, I couldn't really get a good answer from the mortgage loan department. The they referred me to someone in the payment department. So they had to call back and forth and then call us back to give us the information. That was a little bit frustrating. But overall, we've been very satisfied. I wouldn't hesitate to recommend it to somebody else.

    Since we did the refinance so soon, the good benefit is that we haven't had to make a payment for the last month. Our first payment isn't till April, so we've been able to put back some money. Also, getting the lower interest rate is a wonderful bonus because we're gonna be able to pay the house off sooner than we had hoped.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 19, 2020

    Mr. Cooper is my existing mortgage company. I wasn't really terribly interested in shopping elsewhere. I did look around a little bit, but it's just so much easier to kind of stick with the company I was with. They quoted a good rate that I thought was going to allow me to lower my term and still afford it and wasn't very much more than my existing payment on my 30-year. I got it down to a 15. I just went with it without any further shopping elsewhere.

    The customer service team did pretty well. I dealt with a guy named Scott who was my initial contact that quoted me the rate, and then I kind of talked to him towards the end. He was more of the salesperson or facilitator to get things rolling. The actual person that was sort of working the file and calling me periodically about things I needed to fill out and stuff like that was very good and very knowledgeable and was making sure I did things, even though I had a busy work schedule. If something would slip my mind, she called and reminded me.

    She was a little talkative but not in a bad way. She's nice. But when I would get on the phone, she kinda go on and on with a lot of details that weren't probably important for me to know. These are details about logistics and how things are done on her end. I think it was just more of a nervous habit or sort of filling up there on the phone. A lot of times, I couldn't get a word in at times. But it wasn't bad. She could probably be a little better with the conversationalist aspect of the job, but she was never unpleasant. It's just sometimes the calls went on so long. I just wanted to be done.

    It is a very technical job. So, I could totally understand some of the stuff she was sharing to try to help me and understand the importance of certain forms or what next steps wer. Its just at times, I would get calls, and they're for about a week and a half when we were kind of in an end process. They have certain deadlines and things they're trying to hit. It's just like the calls were frequent. But she was sweet, and I don't think anybody would ever really make any decision negative about the company because of her.

    The only thing I don't really like about Mr. Cooper is the name is so stupid. Maybe it's because I'm an old guy. Nationstar Mortgage sounds a little more legit. You're going to Mr. Cooper and I'm like, "I wouldn't want to borrow money from just a dude." Then he would call my loan or close my house. Maybe that works really good for the young people. I know that they don't always market to people like me that will be leaving this earth at some point. They're more for probably the people who are first buying a house. But I wouldn't hesitate to recommend them to other people. Overall, I got a much better rate. That's why the payment was not much more despite the much shorter term.

    7 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 24, 2020

    There was news saying refinancing is low and so I called Mr. Cooper and they said, “You gotta wait certain amount of months or days and call back.” I did. They said they would call me back, but I’d called back earlier before they could call me back. It seemed easier to go with Mr. Cooper because I already was with them and I didn't mind the way their customer service was. Their app is very convenient and easy. If I need to get ahold of someone, it's not difficult.

    Mr. Cooper wanted certain documents and then the day of closing, they wanted more documents. But before the day of closing, I asked, “Is there anything else I need to give you guys before the day of closing?” They said, “No, you're good.” This is from the loan officer. Also, on the day of closing, we had to spend hours trying to get some tax forms and some old W-2s and it was kind of a hassle. But Mr. Cooper already had all my documents and if they needed anything else, they asked and sent it right away and didn't ask for any more documents. Then someone came to my house. We signed all the paperwork again. It was really smooth.

    With the way it is around here right now, I don't know if there was anything that could have been improved. It was as minimal contact of a person as possible, and the person that came to our house was masked and had all everything ready to sign. I was just looking for a lower percentage but didn't have to pay for November, so that was kind of a nice benefit. I am just waiting to pay for my December payment now. So, it gave me a breather. I didn't know I was gonna get it. I was expecting the lower APR.

    Be the first one to find this review helpful
    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Oct. 16, 2020

    Mr. Cooper was appointed as our servicer. When we had talked to a mortgage person about refinancing, the process seemed a lot more complicated. So, when we talked to Mr. Cooper, it was a lot more simple and they weren't gonna require an appraisal. We refinanced through them last year and it was convenient because they already had most of our information and we could just submit everything online. Mr. Cooper called us again this year and said that we could qualify to refinance just our interest rate because of how low the rates went. They told us it was not credit-based, which was interesting. So we decided to do it again to get our interest rate down as low as possible.

    Last year, when we did our refinance, there was a little more phone contact and we had more questions. This time around, we knew what we were getting into a little bit more. So I only got like two or three phone calls from anybody. We probably could have used a little bit more contact because it was a big transaction. So, I would just check the app a lot and ensure that we were doing the things we needed to do. That was how I found out what I needed to submit. It was easy to use the app and they already had our information.

    The gentleman that initiated our refinance last year was the same person that called us again this year. That was a nice touch. But their customer service probably could be a little more fine-tuned. When we talked to somebody on the phone, they were really short. They were impatient and weren't really interested in answering a lot of questions, which was the downside of the whole experience. The mortgage industry, to me, is really confusing, even though I know insurance really well. So when I would ask the kind of questions that I would think that I was allowed to ask, I always felt like that was annoying to them. They should ensure that whoever is on the other line was really comfortable answering questions for people that might not understand the process and the lingo very well.

    3 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Sept. 15, 2021

    My refinance was very went very well. The team was very knowledgeable and quick to respond to any question or concern I had. Wonderful customer service skills from everybody I had the pleasure of communicating with. Thank you for your patience and for being so well trained.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Sept. 15, 2021

    This review is for Anna ** and Leo **. My case was turned over to them after Mr. ** and his manager were doing a terrible job. Anna ** was amazing to work with. I give her a solid 10 all the way around. Same for Mr. **. Anna was always responsive. She explained everything well, and on several occasions she went above and beyond. Truly exceptional service! Mr. ** was great also.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Sept. 15, 2021

    Mr. Cooper's team went above and beyond to help me, guide me, and make my process easy to navigate and understand. Too often, I see the concept of 'customer satisfaction' being used as a standard goal by organizations. The goal should actually be customer delight. Customers should be more than just satisfied, but actually happy and proud to do business with a company. Mr. Cooper clearly understands that concept.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Sept. 15, 2021

    The communication, follow up and timeframe with Mr. Cooper were great. However, I was under the impression until the day of closing, when the lady was at our house, that the rate was the rate based off of the equity in our house. But in review of the closing costs, it broke it down, and we paid for it to get to that point. It was 900 and something dollars which the gentleman that I worked with could have sent in the beginning. I saw it, but that wasn't communicated clear enough. Other than that negative piece, they were fast and responsive when I had questions. It was probably one of the easiest refi’s we’ve had.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Sept. 14, 2021

    I have never worked with a better company. Your staff, from the first phone call to the day of closing was wonderful. They have been well trained in dealing with the customer and making sure everything is done. I have already handed out your number to many people. Keep up the good work and thank you.

    Be the first one to find this review helpful
    Loading more reviews...

    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

    Media

    VIDEOS & IMAGES