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Mr. Cooper

Mr. Cooper
Overall Satisfaction Rating 4.11/5
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars
Based on 691 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?
  • 2,433,504 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
Original review: Sept. 4, 2020

Mr. Cooper reviews your loan and will let you know if refinancing is a good option for your loan. They don’t just have you submit an application they assign someone to help you through the application process and give updates throughout the process. Not only do they have it on the website but also call to inform status what is required and give an estimate as to closing. They value each customer and show it with their communication and how they work with you.

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    Rated with 5 stars
    Verified Reviewer
    Original review: Sept. 2, 2020

    I just refinanced my mortgage with Mr. Cooper. It was such an easy, streamlined process. Gary ** and John ** were so helpful. They got back to me promptly and answered my questions thoroughly. This is the easiest refinance I’ve ever done. I will use Mr. Cooper for my mortgage needs again.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Sept. 2, 2020

    Mr. Cooper sent us an email and we ended up refinancing with them. I spoke to their rep about three times. The first time I spoke to him, he laid everything out and didn't leave anything out. I now have a lower interest rate and lower payment. Mr. Cooper is a good company to go with. They're easy to work with.

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 1, 2020

    Run as fast as you can to another lender! They have had many class-action lawsuits for their dirty tactics. Lost my farm after 20 yrs. They bought my previous loan. I had NO problems until they took over within less than 5 yrs.

    Mr. Cooper response

    Good afternoon Laura,

    It's disheartening to read that your experience with Mr.Cooper was not positive. This is not the impression we want to leave you with. When you have a moment please follow up with me directly, so I can help address all your concerns.


    LaQuinte' Proby
    Community Manager


    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Aug. 31, 2020

    I have been overall very happy with Mr. Cooper. The customer service is always been helpful and the online website is very user friendly and helpful for whatever you're looking for. The interest rates are comparable to other banks.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: April 3, 2020

    Mr. Cooper had the loan for my house and they offered to refinance. When I asked Mr. Cooper for a home equity line of credit, they said, “Why don’t you just refi? We can give you these terms and it will be easier.” And that’s how it all began. I got the money out and I’m paying the same as I was paying a year ago. The rep also gave me some tips on how to pay it off in about 22 years and I wanna do that. Application went very quickly. I called them one day and it took about a week before the loan was approved and processed. There was no other information that they asked.

    The rep was reachable and very sweet too. When she and I talked, she always made me feel like she was there to help me and that I could reach her at any time of the day. I called three times and there was never a recording. She always picked up the phone. I received the lowest rate. I went online to see what the other banks were offering. I got a 3 and one-tenth, something like that. The lowest was 2.9 and Mr. Cooper around those terms. I got the best rate possible. I also can’t believe how quickly they acted. I have $30,000 to pay for some remodeling here on the house and I received the money and everything with Mr. Cooper was done within 10 days.

    But I was more surprised that they didn’t need the appraisal. And I don’t even think they asked for anything more, but, “Do you want the loan?” I said yes and that was practically it. There’s not a lot of paperwork. My FICO score is very high. It’s around 750 and I don’t have a lot of debts. I have a couple of credit cards and I use them just for credit purposes. I don’t owe more than $2,000 right now worth of credit cards. I have a large amount of savings, too. I think that also comes into play.

    I also tried with Bank of America and they asked for thousands of paperwork, which I understand. When I called them, I was really looking for a home equity line of credit. I have a rental property that I wanted to take advantage of and get some money out. I have to prove to them who I am but it was ridiculous, the amount of paperwork that they asked for. Mr. Cooper are very efficient people.

    3 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: March 2, 2020

    I’m a veteran and I got a letter that said there was a half percent rate decrease that I was eligible for, and that I could call 1-800 to get more info. I called 1-800 and the first person I talked to had a very thick accent and was very difficult to understand. At that point in time, I backed out and it wasn’t because the offer wasn’t good. It was because I didn’t understand the gentleman enough to make a good decision.

    I got a second letter and I called back and I got an amazing woman. She seemed to have so much knowledge about the refinance program and how it works. I asked her some questions that were based on assumptions I made from my prior conversation with the gentleman and she cleared all that up for me. So we did a refinance and my mortgage was shortened by two and a half years, and my interest rate went down a half percent, and my house payment stayed the same. So it was like a no-brainer.

    To me, the first call was a lack of training. I don’t think the guy knew what he was talking about and I’m in sales and that made me uncomfortable. If I hadn’t got ahold of the lady on the second phone call, I wouldn’t have done it. We got the good faith estimate and then they hired a closer, who came to the house, which was fantastic because that made it very convenient. The closer came in the evening and we did all the paperwork. But then, we got another good faith estimate and the two numbers didn’t add up. It wasn’t a big difference, but there was enough difference to make me wonder.

    The last thing that happened was we got an escrow refund which nobody had told us about. So we were concerned about the escrow account being not sufficiently funded for the rest of this year. We called Mr. Cooper, got ahold of somebody in the escrow department and said that we got this check and asked them if we should send it back or what do we do with it? We wanna make sure we were escrowing enough. The lady assured us that we were and my wife did the check and went shopping. We were very pleased, very pleased.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Feb. 12, 2020

    Our first mortgage was with the Central Loan Administration. But in November, our loan was transferred to Mr. Cooper. When we started to become Mr. Cooper customers, they had a welcome email. When I logged in, it said, “Welcome, new customers. Give us a call,” to check in on the loan. So, I called them and that was how I got going. I only have the comparison with the Central Loan Administration, but it was a night-and-day difference in customer service, ease of talking to someone and getting information. It was way more pleasant and easy experience. Ever since we had our loan, we put down only 10%, so we’re paying PMI. I wanted to refinance to gain some equity with the growing housing market in Seattle and to take advantage of that to get rid of the PMI.

    I tried to get the PMI removed through the Central Loan Administration. That had to be input in writing and I got a letter back within a month, which was like saying, “Send us the check. We’ll get this started. It could take another two months or so.” It didn't sound like it was gonna happen. When I called in to Mr. Cooper, within 15 minutes we had talked about my goals, what I wanted, what I wanted to get out of it, the motivation and what they could do for me. I was blown away just by how they seemed to listen, understand, ask questions and answer my questions. And from when I decided, I got the potential rate, the terms of the refinanced loan. I talked to my fiancée and parents. And from when I said yes to when we closed, I could get that information in two weeks. It was very fast.

    I feel more informed than the average consumer. Because I was so frustrated by paying PMI, I did a lot of research on my own about loan terms. But one thing I didn't understand was what happens in a refinance. Do they eat into the equity that I have in the home to help refinance? The guy I worked with was really good about helping me explain that and break it down. I had specific questions and pointed questions that I wanted, and he helped me refocus on what to ask about them. He filled that in and then he filled me in on whether a refinance is worth it. The formula of the cost to refinance divided by how much you save per month is the breakeven point. Will I still be in the home after that point? Does it make sense to do the refinance? Overall, using Mr. Cooper was so easy. The website, getting a live person on the phone and every one I talked to would answer my questions and call me back as soon as they could. I had a great experience.

    6 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 25, 2019

    I had missed a payment by one day about 2 months ago, so I had a late fee of 40-some dollars. I called them to pay it and the girl I got on the phone said, “Well, you have perfect credit, perfect payment issue with us, how about you just do an in-house refi with us and we’ll drop you down a whole percent and then you skip December’s mortgage.” She was a sweetie. I said, “Cool.” They had just the email stuff, so the process was like e-signing and all that. It’s just technology and push a few buttons. Still, the second rep that took over the main part knew her job. So, the people I talked to were absolutely wonderful.

    Then, the notary woman who came to do the physical signing and the paperwork took probably an hour, which I totally understood because it took more than that just doing it the first time around when I bought the house. She said, “You need x-amount of dollars.” I said, “No. that’s like $7 more than I was told to get the cashier’s check for, and I'm not gonna go back and change it.” So, she called up her friend and they gave me a $7 in-house credit so it would match. The only thing I would say that needs to be done, and this is a big one, is that they need to make sure that people know that when one gets a notarized check from the bank, they do not write it out to Mr. Cooper, that it has to be written out to whoever it was that they actually ended up having to write it to. 'Cause it wasn’t Mr. Cooper for the check I handed that lady. And I had to wade back to the bank on a Saturday at 11:30 and hope that got them in time to redo the check.

    The best benefit of refinancing with Mr. Cooper is I'm a single person trying to keep all the bills straight and it’s nice to lower the mortgage when one is a single man. And also, I work outside, so the money doesn’t come in as much as it does in December, January, and February than the rest of the year. So, there’s probably a time when I’d skip one month and have a lower payment in January.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 2, 2019

    I had gone through Veterans United for my home loan. When I finished out with it and everything was approved, Mr. Cooper was one of the companies that they farmed the loans out to. I had gone through them for my initial loan, then they contacted me a little over a year of being here and the rates were going down. They asked me if I was interested in doing a refinance on the loan to lower my payments and my percentage rate. Then we went ahead and did everything. It put some cash back in my pocket aside from lowering my interest rate and dropping my payments by $50 a month. So, I’ve had nothing but good experience with them.

    If anything ever changes with my account, they'd be saying that my escrow or taxes have have gone up. They'd tell me that I could either pay into my escrow in one payment or they could spread it out throughout the year on my payments. And they're completely honest with me which is what I like. I’ve had friends who had home loans through other companies and they said that they wouldn’t hear from them then all of a sudden, they’d get a notice in the mail saying that they were $600 behind on their mortgage because of influxes in their insurances. But Mr Cooper's reps called me as soon as they sent out my payment and told me what was going on.

    When I first started dealing with the refinance process, I started running numbers through my head and it sounded like a bad deal. And I started getting rather upset with the gentleman that I was talking to. But he was really polite about it and said that he would gather everything up, do a comparison loan option for me and send it over so I could see it. He said we would go over it on the phone so that I could see what they were actually offering. He took care of everything and I had them over in 30 minutes. Then he called me back and we went over everything. I told him that I needed some time to go ahead and talk it over with my wife and he said it was not a problem, that their offer remained open, and that I could contact them whenever I was ready.

    I called him back two days later and he went over everything again instead of just jumping right into it. He asked if I was sure I was willing to do it right then and when I said yes, he said we'd go ahead with the process and everything went through. Then he said there was another specialist that was gonna come on the line and she got on the line to finish going through everything once everything was processed and approved. She was also with me as I was waiting to do the final paperwork.

    A day after I closed on my house, I got two separate phone calls from them, one from her and one from him, both asking me if everything was good, if I was satisfied with the title company that came to my house and if they went over everything, and if there was any other issue that needed to be addressed at that time. I told them I had no problem and I really appreciated their phone calls. And five days after I received my paperwork in the mail from the title company and Mr. Cooper, they called me once again asking if there was anything else that they could do for me of if I needed them to go over any of the paperwork.

    Then two days later, I received a phone call from the gentleman that I spoke to first, explaining to me that when they went over all the final paperwork, there was an additional adjustment. He said that I overpaid and they were sending me a check which I should expect in the mail. All in all, if anyone is thinking about going through Mr. Cooper, they should just let them do their job in as far as explaining things. Don’t just jump to conclusions saying that they're just out to get you like other banks because for me. they were there the whole time.

    4 people found this review helpful
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    Mr. Cooper Company Information

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