Mr. Cooper Reviews

I was online, looking around, trying to see about refi. Because I had that goal of mine, refinance my house in three years. Mr. Cooper called me within 5 or 10 minutes. We ended up closing that day because interest rates were lower that day than normal. And the entire process was good. The only thing that got held up a bit was I had a lien. It had been satisfied. It was a second mortgage for a grant that I got. But Mr. Cooper was on it. I did what I was supposed to. And everything was expected.

The application process was very easy. My employment records were all accessible by my social, and Mr. Cooper didn't need very many documents. I found it all in a timely manner, and it turned over really quick. The first person that I talked to was expedient, but she was taking some time off in a few days, so that might have helped with how efficient she was. Still, it was good. I was done with her within a week, then I waited another week for everything to be finalized.

I had bought the house and remodeled it and done a lot of remodeling on a credit card, so I had a lot of credit card debt. I assumed that since the house was worth more, I would be able to refinance it, but for some reason, no one wanted to refinance it. Since Mr. Cooper had bought my mortgage and I had a very low interest rate, I thought, "Well, it might be good for them to refinance too, because they're gonna get a better interest rate now that the rates were up." So, I contacted them, and they looked at it and said they would refinance, and everything went smoothly. It was a very easy process.

When I talked to Mr. Cooper, they were very personable and knowledgeable. They were quick the first couple of times. This last one was a little longer. But they do what they say and say what they do, and I found that to be completely easy to follow. I've done three different things with them, and it's been fabulous. The first person in line goes over some basic information and talks to you for a good 15 minutes to figure out what you want, what your background is, and what your financial situation is. You go online, set up your account and the paperwork is done through that which makes it easy. You're not running out to the mailbox and trying to find time to do that when you're busy with many other things. They notify you through an email that you have a new form to read and sign, and you go in and you read and sign it. It can't get much simpler than that.

The application process with Mr. Cooper was super simple because the agent who was assigned to me was fantastic. She made the process very streamlined. Once it came down to finalizing the loan, I had another agent involved and communication between me and the two other agents got difficult at times. But other than that, everything else was smooth. If the agent, Betty, hadn't given me the peace of mind that I needed to move forward with locking in the rate and telling me that we were not signing anything right now and giving me the comfort that I needed, I probably wouldn't have locked in the rate that day. I'm glad I did because it was only point 3% higher than what I had currently. Mr. Cooper offers very good loan rates and their process for refinancing whether you're trying to do it to consolidate debt or to get an extra cash from your equity on your home to do home improvements is a very good resource to use.

I had Mr. Cooper purchase a Mortgage I own. What an awful company! This company is the epitome of what's wrong in the housing industry as they buy large swaths of mortgages sight unseen and then hold individuals assets hostage while they profit from them. We all work our tails off to try to advance and create future growth for ourselves. Unfortunately this company will hold your equity and not let you access it. The worst and most corrupt company I have ever seen.

Disabled Veteran DOES NOT RECOMMEND them. My loan was transferred to them years ago. I've paid on time every time and built my credit strong to refinance and they are running me thru circles to refinance and get MY CASH OUT MY EQUITY! I'm tapping into my equity to keep these cancer treatments and medications coming for my wife to get better and they are not timely on follow up and not clear on what's needed to expedite the process. I will hear nothing all week and Every Friday like clockwork I'll call to find out where I am only to get an request for more documents that are not necessary and needed.

Mr. Cooper erroneously objected my approved funds from the state Mortgage assistance program (ERMA). I applied for the ERMA program February 2022. The state notified Mr. Cooper of my approval July 2022 & Mr. Cooper erroneously sent an objection letter to the state in Aug 2022. As a result, I received a letter from the state ERMA stating: "Your mortgage servicer has objected to your inclusion into the program". I have several recorded and noted conversations with Mr. Cooper which confirm that Mr. Cooper had NO reason to oppose my acceptance into the ERMA program.

Our loan was transferred to Mr Cooper. It's been a constant struggle. Most recently my payment was increased. The first CSR gave me a myriad of reasons. Which were easily refuted. Her last try was saying my Escrow account had been depleted. AGAIN wrong.. according to all my statements I have retained well over the 2 month reserves. The CSR's are the most inept I have ever dealt with. After reading 1000's upon 1000's of similar complaints on various sites as well as discovering 2 class action lawsuits.. We're now working with an Attorney.. This may very well be another Class Action lawsuit.

They acquired my mortgage from Wells Fargo and it has been a nightmare just to set up biweekly payments. They do not have updated technology or the capability to do this without utilizing old methods, such as cancel checks, hardcopy, documents, and snail mail. I feel as if I have been punished by my previous mortgage holder for whatever reason, and now have to deal with his ass backwards company. I will be sharing my experience with everyone, I know in finance.