Nationstar Mortgage Review (Now Called Mr. Cooper)
ConsumersAdvocate.org
21 Customer Comments & Reviews - see all comments
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Nationstar Mortgage specializes in residential mortgage services, offering a considerable selection of mortgage products for homebuyers across the nation.
Among the company's partners are banks, financial organizations and government enterprises. Loan options are also available for homeowners searching to refinance their mortgage or looking for home equity-based loans.
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Nationstar Mortgage LLC has failed to correctly apply our payment five times in a row. Our payments have been submitted in a timely fashion but instead of applying it to the next months due amount, they have applied it to the principal as we made bi-monthly payments. Each time we have called to complain and we have been assured that they will fix the problem with "their software" for the next payment. Apparently their software is only capable of processing monthly payments. Each time we call them back, they tell us "they will get it right" this time. In May, they sent a late payment notice for the same issue that they have been unable to fix. Their customer support told us that "they would... Read More
35 People found this helpful.
they switched us to mr. cooper. they lost 12000 dollars of ours when we sent it in for our principle. they put it in our escrow. we refinanced and now we are fighting to get our escrow moneys back. it has been 3 months now and 16 cooper workers later. they sent a e mail telling us they sent a check with the check number. it was suppose to be here 7 to 10 days after 6\17\2020. never came. tomorrow we will be contacting a news investigating team . we will get our money. no rating.
32 People found this helpful.
To say my experience with Nationstar was horrific would be a gross understatement. Another bank not listed on this site, we'll call them 'Skank of America', sold my mortgage to this company about two and a half years after I purchased my home. They immediately increased my escrow for "potential insurance and tax increases" by $150 a month. There had not been any increase, but they said they needed to do it "in the event an increase occurred." I battled back and forth with customer service representatives for two months to no avail. Little did I know, that was just the beginning of their sorry customer service. Then, the phone calls started. They were a nuisance! They began calling me... Read More
31 People found this helpful.
They come across, at least to me, as an old-time finance company. My loan was transferred from CITI and I only owe about 48K on a million dollar house. I called and inquired on a ReFI of 150K for ten years, only an inquiry mind you. I think they pulled 4 hard reports on me within 24 hours! Then sent a quote to me on a loan that spanned 30 years. I'm going to pay the existing loan off and forget these people.
24 People found this helpful.
I would NEVER recommend this bank! Horrible customer service for us. My credit score is in 800’s. Our mortgage was sold to these gems. Will not work with you at all! Each 1 I talked to told me something DIFFERENT every time! Couldn’t stand them so much, we refinanced with different bank with a bit higher interest rate. WORTH IT! I had to give 1 star to Post. I would not even give them 1 star.
24 People found this helpful.
They do not accept ACH electronic payments. Perhaps because they want checks that they tend to lose and then charge a late payment fee. They have sharp pencils to look for additional ways to add on fees.
21 People found this helpful.
My mortgage was sold to Nationstar/Mr. Cooper several years ago. Pros: the website is easy to navigate, I have no issues with tax or escrow payments. Cons: if you want to finance/refinance the closing costs are crazy high compared to other lenders. They quoted me a $95,000 refi with 4.175% rate 4.687 APR. The other lenders I shopped had lower interest rates ranging from 3.2% (APR 3.4%) to 3.5% (APR 4.4%) and closing cost quoted at $3500 to $4500. When I told MR Cooper they dropped their closing cost to $4000 and their rate to 3.5% (APR 4.125%)as long as I provided proof of the quote. Why would I want to do business with a lender like that. I am in the process of refinancing now,... Read More
20 People found this helpful.
I only need a few sentences. DON’T do it. My mortgage was sold to this company. I was happy with the previous company. It was local. I had two mortgages. I sold one of the houses just to get rid of one loan. They screwed me out of the property taxes that the seller paid. Good riddance and it will b even better when I get the second loan paid.
15 People found this helpful.
"Skank of America" sold our mortgate to them when they were still NationStar, probably because we were late with the payments four or five times. (We had the money, but we were disorganized at the time.) Overall, our experience has been decent, but we haven't had much direct interaction with them. I kind of hate the new website -- the old one worked fine, and the new one feels like they're constantly trying to sell me something. It's like, dude, you're my mortgage company. Let me just download the statement and submit a payment without a cartoon bird pretending to be my friend, you know? Given how hard they keep spamming us about a new mortgage, I feel like they must make a ton of... Read More
11 People found this helpful.
Worst Mortgage Company in the solar system. These crooks will rope you into a mortgage and won't let you know their hidden tactics and you'll sign the paperwork without them telling you about their Escrow Account rules. Ours is a fee where we have to keep $1000 in the account at ALL times while they send us letters that the property tax keeps adjusting itself....BS as I always keep records of when it increase. What they do is siphon off the upcharge and use the funds to put into another account where they take that money and invest in guaranteed money markets which becomes a net gain ( on the money they charge us and millions of other Escrow Accounts ) and they get around 8% profit on... Read More
11 People found this helpful.