Mr. Cooper
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Mr. Cooper Reviews

 4.6/5 (763 ratings)
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Mr. Cooper Reviews

About Mr. Cooper Reviews

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

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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 ...

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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...

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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

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How do I know I can trust these reviews about Mr. Cooper?
How do I know I can trust these reviews about Mr. Cooper?
  • 3,743,927 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: Jan. 18, 2022

It was a breeze going through with Mr. Cooper. It was a challenge that I had given my husband because he wanted to retire. I said, "Okay. We need to refinance the house." And the next day, the mortgage papers came that had the refinance number on it. And we were done within 30 minutes. We were preapproved, locked in to our rate. We closed in less than 30 days, because we learned that I would have to have surgery that would affect my ability to sign the papers. So, they pushed through. Signed, sealed, and delivered.

This is my second or third dealings with doing finance, and Mr. Cooper made it very easy. It went faster than we anticipated. Because I had not checked any rate for anything when we made the phone call. We were just trying to start and get information. But because they made it so easy and because we were accomplishing what I wanted my husband to do, which was to drop the interest rate drastically, and we also went from a 30 to a 15-year note, there was no point in us looking at other vendors to try to shop around. And I know that within a week, the rate would have gone back up, and we couldn't have shopped around for a cheaper rate. The rate is always the trick.

My husband is somebody who has been through bankruptcy and was nervous about his credit. But he had already reestablished. I thought it would take both of us to get the best rate. But he was able to do it on just his, and we just added me to the note. So they made it very easy for somebody who is not finding it savvy. My husband had just been dreading it.

2 people found this review helpful

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    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Jan. 16, 2022

    Everything seemed like it was appropriately disclosed in the manner and the time in which it was supposed to or needed to be. Although, it could be more palatable to people if they go through the fees because I had to kind of figure that out myself saying it would be worth it. But everyone at Mr. Cooper that I worked with was honest and transparent. Everything was up to par and they told me exactly what was going to happen. They also followed up and if there was something that was missing or some information they needed to know, they emailed and called. They made sure that not only did I have something in writing but they would follow up with a call to ask if I received the email regarding information that was needed or if that information had been received and in process. There was no confusion on my part along the way as to where we were and what was needed or what had already been gotten.

    There was only one thing towards the very end when they were saying that there was some money and they said that when they do it, I'm going to have to pay. But I shouldn't have to pay anything. That was the whole point of this whole thing of not putting anything. The rep said they just switched over. I'd pay all those things that come out that have to be paid off completely and then anything left over will be forwarded for the next year. They knew everything a week or two ago. How was this not calculated or factored into? He said it was based on what was owed at that time.

    The very next day, my payment had posted because I paid it early and they said that they owe me money. The rep said I'm gonna get a check back for $1,200. If that was the case, then how was it that in paying that, I get back 1,200, but in not paying that, I owed for it? It made no sense to me. Other than that, I would recommend Mr. Cooper. They did a good job, they were very diligent, and they followed through.

    2 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 12, 2021

    Mr. Cooper bought our old loan a couple years ago. One time we got a paper in the mail about our taxes. It always comes out in the escrow. I called Mr. Cooper and Daniel answered the phone and he checked on it and told me to disregard it. They pay that and it comes out the 1st of November. I started to hang up and he said to wait a minute as I qualify for refinancing and that they've been sending me things in the mail about it. I told him that we don't want to refinance. Then he said, "How would you like to get rid of your old loan and pay off a couple of your other bills?" And I thought, "Yeah, right." He kept talking and talking and the next thing we knew, we were refinancing. He got me in touch with a mortgage professional and that was just within the week.

    The mortgage professional called me on the phone. He was very polite and he was excited about being able to help us and mostly how to get rid of my two charge cards. I was panicking, I hate bills and our other refinance that we had with United Community Bank. We got rid of that and we got rid of the two charge cards, so that's three payments that I don't have to pay. Our new house payment went up from 610 to 754 'cause we have been very blessed. I was already paying that plus the refinance fee. Now it's added on my house payment. It's not just going to interest, it's going to principal, so I've been so excited. I love all three people that we had contact with. I'm telling people about Mr. Cooper.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Oct. 4, 2021

    My experience with Mr. Cooper was amazing. Angela, the person that I spoke with, was amazing. Without her, I probably would not have gone through the process. They were able to take it down from a 7.5% interest to 2.5% only because we've got an old farmhouse that we've been remodeling for years and didn't realize we didn't have to have an appraisal because there are certain things that we still want to get done with the house before we have it appraised. She was able to drop our payment by about $450 a month.

    We talked on the phone quite a few times and several emails. She was on top of it. When it came time to closing though, the person that was supposed to close our loan wasn't available. We had somebody else step in. They didn't get the paperwork, so we weren't going to be able to close on time. I reached out to both Angela and to Ashia, who was the second person we were dealing with. And Angela was able to get everything coordinated where we were able to close about an hour and a half later than our scheduled time.

    However, in the beginning, the few items they told me that they needed for us to start the loan, I got to them. But then we got into a glitch with my insurance company. Mr. Cooper contacted them four times and had not gotten a response. All I had to do was call the office and get the insurance paperwork that they needed. So had I known that in the beginning, I could have had it and that could've sped up the process.

    Be the first one to find this review helpful
    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.

    3 people found this review helpful
    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: May 10, 2022

    I found the Mr. Cooper Loan Agent and the Loan Processor extremely helpful, very professional and very patient with me, as far as computer knowledge is concerned. They explained in detail everything that was going on and even took my calls when I would get nervous to calm me down.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 10, 2022

    My experience was one of positivity from beginning to end. All of my questions were answered and the answers received made me take the plunge… I appreciate not being rushed when trying to make my final decision for refinancing my home loan. I started off speaking with Eric ** and ended with Clay **. They were fantastic! Thank you, Mr. Cooper…

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 10, 2022

    Mr. ** was very professional throughout the refinancing process. He explained all the information fully during this process. He followed up with me after the refinancing process was over. If I needed further assistance or questions to answer, he would be available to answer them.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 9, 2022

    The two people helping me with my refinancing really took the time to help me move smoothly through the refinancing. They were very good about explaining what was next and what was going on with the paperwork. Even when we hit a snag in the processing they did a great job stirring us in a new direction which ultimately worked better in the end.

    Be the first one to find this review helpful
    Resolution In ProgressRated with 1 star
    Verified Reviewer Verified Buyer
    Original review: May 9, 2022

    Processor did not communicate very well and was very slow about follow-up. It took over 6 weeks to get the loan even though we were existing customers with excellent credit. Paperwork was very extensive and some had to be resent.

    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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    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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