Nationstar Mortgage Review

Rating: 8.6 / 10 (Excellent)
5 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. 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.

How is Nationstar Mortgage rated?

Breakdown

9/10
Loan Specifics
9/10
Customer Experience
8/10
Qualification Requirements
8/10
Lender Reputation

Overall Rating: 8.6 / 10 (Excellent)

With over 2.9 million customers, Nationstar Mortgage is one of the largest non-bank lenders in the United States. They are currently rebranding after investing over $90 million in technology and customer service training to create a better experience for borrowers. The company will henceforth be known as Mr. Cooper. In December 2016, Nationstar introduced a mobile app to give clients a better way to manage their mortgage loans. The company does not charge an application fee, and there are no upfront charges to start a mortgage transaction.

Nationstar Mortgage Customer Experience

Loan Specifics - 9 / 10

Nationstar Mortgage is a loan originator and servicer offering fixed and adjustable rate mortgages as well as the government-insured FHA, USDA, and VA loans. In 2016, Nationstar launched a mobile application and redesigned its website. To further enhance their customer-centered features, they also created a Home Buying Guide to assist prospective homeowners in the process of applying for and obtaining a mortgage. The company does not disclose information about current rates on their website. Moreover, to pre-qualify or start a mortgage loan application, potential borrowers must complete an online contact form or speak to a representative directly.

Type of Mortgage Loans

["Fixed Rate 15 Year", "Fixed Rate 30 Year", "3/1 ARM", "5/1 ARM", "10/1 ARM", "Jumbo Fixed Rate", "VA Fixed Rate", "FHA Fixed Rate"]

Types of Mortgage Loans Offered

  • Fixed Rate 15 Year
  • Fixed Rate 30 Year
  • 3/1 ARM
  • 5/1 ARM
  • 10/1 ARM
  • Jumbo Fixed Rate
  • VA Fixed Rate
  • FHA Fixed Rate

Nationstar Mortgage Customer Experience

Customer Experience - 9 / 10

In December 2016, Nationstar invested time and money to improve the way they do business and their customer service in response to complaints filed against them. The effort included a rebranding, employee training, and technological updates. Only time will tell if the resources invested in making Nationstar a consumer-friendly lender will produce the desired results.

Online Features

Online Application
No
Online Quote
No
Additional Tools and Resources
Mortgage Calculator
Affordability Calculator
Help Articles

Nationstar Mortgage Qualification Requirements

Qualification Requirements - 8 / 10

Nationstar requires the general documentation for mortgage loan applications, which may vary depending on the loan product. The minimum credit score requirement listed on their website is 600 for FHA loans. As for down payments, the usual 3.5% applies to FHA loans while conventional loans require at least 20% down to avoid private mortgage insurance premiums.

Key Requirements at a Glance

Minimum FICO Score
600

Nationstar Mortgage Lender Reputation

Lender Reputation - 8 / 10

Nationstar is a BBB-accredited business with a B+ rating. Although the company has had several regulatory actions taken against it, they have made significant changes to the way they do business in an attempt to meet their customers's needs. Nationstar's $90 million investment to improve their service and their timely response to the complaints filed against them could mean the company, now called Mr.Cooper, may again be worth looking into.

Key Facts

Lender Type
Direct Lender
Year Founded
1997
BBB Rating
B+
BBB Positive Reviews
24
BBB Negative Reviews
159

Complaints & Regulatory Actions

Nationwide Mortgage Licensing System ID
2119
The Nationwide Mortgage Regulatory Actions
12
Consumer Financial Protection Bureau Complaints
17

Company Profile

Full Name
Nationstar Mortgage
Company Website
Headquarters
8950 Cypress Waters Blvd., Coppell, TX, 75019

Our Partner
8.6 / 10
  • 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 Nationstar Mortgage Reviews

Tami R
, Georgia

2/7/2018
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.


Stephanie D
Natchez, Mississippi

3/27/2017
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!)


C
Charles T
Virginia Beach, Virginia

3/21/2017
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


C
Cigary
Dallas, Georgia

3/4/2017
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....bullshit 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%... Read More


R
Robyn
Haymarket, Virginia

2/27/2017
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