Follow Us
Mr. Cooper

Mr. Cooper
AUTHORIZED PARTNER

Mr. Cooper

 4.5/5 (625 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?
  • 3,524,584 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?
  • 3,524,584 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: 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

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 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.

    2 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: April 10, 2021

    I worked with two different people. The first person was a gal, and she took my phone call. I was calling about a payment issue. I had misplaced one of my bills. I knew my bill was coming up, so I called in. She said, “You know, I noticed that you are at a high interest rate,” because I was. We weren't refinancing because we're not planning on staying here long-term. And then, she said, “Well, that's okay. I can get you an estimate or a quote to do a refinance.” She was super friendly and helpful.

    After that, I got transferred to the loan guy and he was fabulous as well. A situation came up where my husband's credit was affected. I guess somebody got the wrong name and put some collection things on my husband's credit, and that got flagged during the whole closing process. But I'm so glad we found that because imagine how long that would have sat on our credit. And they were like, “It's okay. Just send us a letter that that wasn't you.” And we were able to close on time. And then, my husband was able to get his credit cleared quickly. Everybody was helpful.

    Mr. Cooper was very professional, personal, kind, and high quality. We've had our loan with them forever and we got them through a broker. But next time I buy a house, which will probably be in the next one to three years, I will use Mr. Cooper direct. I'll just stick with that company because they give amazing service. I hope they’re always that amazing. I had a good experience with them.

    Be the first one to find this review helpful
    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: Jan. 11, 2022

    I cannot emphasize nearly enough how THANKFUL I am in this refinance completed process. I'm most sincerely in Gratitude to TRACY **, for making a stressful situation often overwhelming for me into one of confidence and elation. I'm ever so THANKFUL it was TRACY who picked up my call. She not only is Extremely Competent, Savvy, Exemplary in Service, Tracy has been so tried and tested and Proven: Patient, & Encouragement Supportive that She is Top Rank in all levels of Expertise...Rates 15 out of 10. Thank You to all levels of support throughout the entire process. My Family is Blessed. God Bless All of You!

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Jan. 11, 2022

    I was just calling for information about a refinance for debt consolidation. Nothing could have been easier. My original contact was very informative and helpful. We were able to get started right away. The app made tracking progress and knowing what to do next stress free. We have closed and are in a much better financial position. I would highly recommend Mr. Cooper for all mortgage needs

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Jan. 11, 2022

    We recently refinanced our mortgage with Mr Cooper. We were assisted by Margaret ** a home advisor. She was very helpful and patient throughout the process. Taking the time to communicate with us, and making sure to answer all questions we had.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Jan. 11, 2022

    I had no idea how refinancing was done. Justin & Anthony made it an easy process and we're able to help me save a nice amount on my mortgage payments. Everything felt catered to me and I would highly recommend anyone to look into refinancing if you're a newer/younger home owner.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Jan. 11, 2022

    My wife and I could not have been happier with our experience refinancing our mortgage with Mr. Cooper. From the initial quote with Catherine ** to the final approval with Annie **, it could not have been easier. They got us into a product that worked best for our situation and we closed within 1 day of the original estimate. Happy to be using Mr. Cooper and will recommend in the future.

    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