Nationstar Mortgage Review (Now Called Mr. Cooper)
Nationstar Mortgage Review (Now Called Mr. Cooper)
ConsumersAdvocate.org
21 Customer 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.
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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.
- As little as 3.5% down for FHA mortgages
- Conventional mortgage loans from 5% down
- VA mortgage loans available
- Quick pre-qualification
- A mortgage assistance program
Latest Mr. Cooper Reviews
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
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.
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
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.
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.
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.
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
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.
"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
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
Nationstar Mortgage D/B/A Mr. Copper has been servicing our loan for over 10 years now. They have been nothing but trouble. Web site frequently does not work, problems with communications between them and our homeowner's insurance company, at least once was late paying real estate taxes, and for the last couple of years, mis-posting of our payments. They consistently post money directed to the escrow account to the principal. It is as though no one actually reads the directives on the payment coupon. When there is a problem, it seems as though it takes forever to get corrected, and within a month or two, we start over again. Same problems over and over. Do not recall ever having these... Read More
Terrible , the whole experience , absolutely terrible .
Use a loan shark over this place seriously it’s that bad
Mr. Cooper purchased my mortgage from Quicken Loans, and the experience has been nothing short of a nightmare. I have always paid my mortgage bi-weekly. That is a foreign concept to this company who, even if you are paid ahead by the normal monthly payment, they have hoops and forms and voided checks to jump through (1990's called and wants its business processes back) and you actually have to get two months paid ahead for them to even consider. Customer Service is awful and they just pawn you off. Welcome letter from Jay Bray, CEO says "I have great news! Your mortgage has been assumed by Mr. Cooper!" He is a liar. That news was awful and it's been awful ever since. I tried to... Read More
Our mortgage has been sold to this company and we are sick to our stomachs. We have excellent credit and always pay our bills on time if not before. From the reviews we've read on other sites, especially the bbb, we're horrified! So far, emails have been returned to us from this company as not a correct way to contact them even though this is the email provided. Phone calls result in someone not picking up or having to hold for over an hour. The website does not recognize our loan even though we are using our ss # as well as the loan number provided in the letter. God help us
I was doing refinancing and MR copper pay twice from escrow account for tax bills. They accept that someone from MR copper made a mistake, but I ended up paying for this mistake as they don't let us refinance due to negative balance on the escrow. I paid extra to cover negative balance and extra for wire transfer. But why should I pay for Mr copper employee mistake. Very bad experience.
Not sure where my money goes once I pay. Probably Blackrock or Vanguard, but none-the-less, isn't my payment going back to Fannie Mae, the ones they borrowed money from to be begin with? THE CENTRAL Bank, the FEDERAL RESERVE is bankrupt and is not giving US banks anymore money, so where is our MTG payment going???? The Federal reserve is not a federal agency; they just put "federal" in the name so sound official. Who is getting my Mtg payment and who is paying back a bankrupt United States Inc? The US was bankrupt back in 2018, the so-called federal reserve stopped printing money in 2017 (check your foldable money) The Federal Reserve has been taken out, and is now operated by the... Read More
MRCOOPER 'bought' my loan from the 'original' bank that held the loan. Nationstar was the 'servicer' of the loan, authorized by the bank to 'service' the loan. MRCOOPER outright BOUGHT the loan in June of this year, 2022. The bank that held the loan, STOPPED and DELETED all information from Nationstar from my autopay account. MRCOOPER, at his pleasing, set up AUTODRAFT from the previous bank. ILLEGALLY, because the bank SOLD the mortage to MRCOOPER. New 'owner' of loan needs CLIENT permission to draft from YOUR bank. MRCOOPER, at his choosing, automatically chose to do this 3 months after the loan was bought!!!, with ZERO, NADA ZILCH authorization. What is one to do?? Totally... Read More
I have had my mortgage with Nationstar for over 16 years. They have been nothing short of greatness. I guess when you pay your bill on time every month and tend to your business, you won't have any issues with them. I can't understand the problems some complained about with their escrow accounts. I have had short paid years and overpaid years where I would receive a refund of my escrow overpayment. I recommend them to anyone! Thanks Nationstar! (Isaac and Matt as well!)
womderful company always quite hekpful when I call with questions.That is why I am now looking to refinance my property
Mr. Cooper has been my MTG Co for over 10 yrs. They have been very helpful in many areas of our loan. If I ever buy another home I will definitely try to use them as long as their rates stay competitive. Customer service has continued to be outstanding.
I have received nothing but the best of service with Nationstar Mortgage! They have been courteous and professional each and every time that I have contacted them. I would highly recommend them to my friends