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Mr. Cooper

Mr. Cooper
Overall Satisfaction Rating 4.34/5
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars
Based on 550 ratings submitted in the last year

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.

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Nationstar Mortgage LLC dba Mr. Cooper

NMLS: #2119 NMLS Consumer Access (

Mr. Cooper Video

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.

  • Closing date guarantee
  • Fast approvals
  • Rewards program
  • Limited rate information on site
  • Prepayment penalties on some loans

Top Mr. Cooper Reviews We Found

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Rated with 5 stars
Verified Reviewer Verified Buyer

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 calls in a timely matter. I would highly recommend Mr. Cooper to anyone buying a home.

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Rated with 5 stars
Verified Reviewer Verified Buyer

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 with the rates and terms that I got and things worked out well.

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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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2 featured reviews
How do I know I can trust these reviews about Mr. Cooper?
How do I know I can trust these reviews about Mr. Cooper?
  • 3,143,414 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 please visit our FAQ.

Page 1 Reviews 0 - 10
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.

6 people found this review helpful

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    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 4 stars
    Verified Reviewer Verified Buyer
    Original review: Aug. 12, 2020

    We signed our mortgage and our mortgage company refinanced it with Mr. Cooper. We didn’t have a choice then but we just refinanced and that was by choice. We have our first new payment on the 1st of September and everything has been smooth. The people we worked with were great. The rep has kept us up to date every step of the way on what was going on. We never felt out of the loop. Other than that initial hiccup, everything with Mr. Cooper has been great too. Everything is fairly easy.

    We got screwed the first time because Mr. Cooper's person wasn't trained. We almost lost our house because of it. We did the initial loan for the house when we first bought it. Then, we got a letter in the mail saying that the original lender had sold our loan. They called us to do the paperwork and when we talked to the lady, she told us we didn't have any payments for three months, which was not correct.

    We saved the money but a month and a half later, we got a call wanting to know why we hadn't made any payments. I was understandably livid because a home ownership is very important. We've done everything on time and done everything that we could to make sure everything was as it should be. I was so mad and I went off on the person. We're now all of sudden two months behind on our mortgage and we are not that kind of people. I had specifically asked her when the next payment was due. I wrote everything down because I'm very meticulous like that. Their disclaimer said they record these phone calls for training purposes. I told them to review it and they did. They came back and all they could say was sorry. There was nothing they could do to fix it. They knew exactly what happened when they reviewed the tape. But everything since then has been perfect.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 7, 2020

    Mr. Cooper was fantastic. I got a letter saying that my escrow amount was going up so I called them and asked why because I was paying extra. The guy said, “You know, our rate is cheaper now than it was when you refinanced before.” I asked how much cheaper and asked if I have to pay the appraisal thing and he said, “No. Your appraisal is still up-to-date. You can go ahead and refinance.” So I refinanced.

    They do that little pie chart thing and it tells you how much you’re paying for the interest and the principal. And then it tells you how much you’re paying for the escrow account. The way they refinanced me, I was paying more to the principal and less to my interest. So, I was like, “Wow. The way they refinanced me, now I’m paying more in.” So it was a better idea all the way around. I pay 400 more to my principal so that I could pay it down. It made me happy. And after I refinanced I have that one month free. My one month free was the total amount of what my debt was. So I refinanced, wiped out all my debt and I’m debt-free, except for the mortgage. I was happy because then my mortgage payment dropped down like $200.

    When I paid off the mortgage, I was looking at it. Like this month is gone and I had $2,100 left. And I have rental property so in my fun account I have $5,000 and I had $2,100 left in my operating account. Then I got to thinking about it. Girl, I’m gonna tell you, I was just spending whatever I wanted. I was just being wasteful because how can anybody have that much money left off at the end of the month? So, once I paid the debts for next month, just imagine, next month, the only bill I got is just the mortgage payment. I’m just gonna stay out the stores.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 30, 2020

    Our experience with the reps of Mr. Cooper was pleasant. I spent three hours on the phone. The rep did an excellent job and explained everything to me. She did detailed research into what would be the best option for us in our situation. I made sure she had everything she needed, for the most part, to get everything up and running. It was extremely thorough that I didn't have to question what I needed to send in. I made sure it was all taken care of that day on the phone with her.

    The only thing that was unclear, was the amount that we paid to refinance, like the taxes and the refinance fee. I still really never got a super clear number on that other than I was promised that we're still making money on this. She gave the overall outlook on what we would make over the term of the loan, that we're still saving about $40,000. But it was unclear how much we're paying upfront to take on refinancing the mortgage. She admitted she couldn't give me that exact number until she had done more stuff on her end. By the time she finishes up on her end, I feel like we were already in the process of doing it so it was too late to really say no. But overall, it was a happy experience 'cause we were communicated with very well. Other than that one thing, for the most part, I felt like I could trust who I was talking to.

    This process was really smooth and it happened very quickly. I was surprised because initially when we went to do it, it was a three-week wait period before we'd even hear back from someone, not even starting the process. I don't know if it was the timing on our end but we heard back from someone within four days, and then within a week, we were already in the process of doing it. Then, a week after that, we were closing. The whole process took three weeks. The payment option as far as it being online is really nice and convenient too. Overall, we're happy with everything so far.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: April 29, 2021

    Mr. Cooper was very informative and kept me abreast of what was going on. If I had any questions, they were very patient. When I couldn't get them and I left messages, they'd always call back so I have no problem with them. I'm also happy because when I called to check my escrow, the rep explained and talked me into the advantage of going with a 15-year mortgage and how much I would save. I cut off two years off my mortgage down to a 15-year and my interest rate went from 6% to 2.7. Every little bit helped the mortgage drop. If my friends were looking for a house, I would refer them to Mr. Cooper right away, at least to compare whoever they were considering.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: April 25, 2021

    Once I decided to refinance with Mr. Cooper, I was assisted by folks who knew precisely what they were doing and because they listened to what I was saying, also knew precisely what I wanted from the transaction. They had a detailed process in place and a detailed mechanism for assigning me to customer related tasks. Most importantly, I could ALWAYS contact a knowledgeable person when I had questions. They are the class of their industry.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: April 24, 2021

    Very happy with service provided. Very little paperwork and all questions answered promptly. Saving over $300 a month on the mortgage and paid off $1000 month in debt. Couldn't be more pleased. Very competitive also as they matched a rate quote from another company.

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    Rated with 1 star
    Verified Reviewer
    Original review: April 24, 2021

    Our loan was transferred to Mr. Cooper in 2014 so we decided to stay with the company when we refi'd. It was the most awful experience, very, very difficult to get anyone to call or email back. First time homebuyers beware, you will not be dealing with people who know what they are doing and you will be lost in the process. And now, after we finally closed a month ago on the refi our checking account is still being debited the bi weekly payment from our closed loan. Had called about this 2 weeks ago, was assured the problem was resolved, clearly it is not. Tried calling and the automated system said there were too many calls and hung up on me. You will be very frustrated if you choose this company for your mortgage needs.

    Mr. Cooper response

    Good afternoon, Mary

    Words seem inadequate to express the sadness we feel about your recent experience. This is not the service we strive for at Mr. Cooper. I was unable to locate the account, and this is not the impression we want to leave you with.

    Please follow up with me directly to help address your concerns. 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. You can email me at


    LaQuinte’ Proby
    Community Manager


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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: April 22, 2021

    I refinanced my previous Mr. Cooper mortgage to take advantage of low interest rates. From start to finish, I was kept informed of the progress on the new loan and felt like the team was really working with my best interests in mind at all times.

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    Mr. Cooper Company Information

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    Company Name:
    Mr. Cooper
    Company Type:
    8950 Cypress Waters Blvd
    Postal Code:
    United States