Have a complaint against Mr. Cooper? We want to hear it
Yes, Mr. Cooper is a real company. They are a non-bank mortgage originator and servicer operating in the United States. Technically the company was founded in 1994 but at that time it was known as Nationstar.
Mr. Cooper definitely is a real company, but real companies sometimes do unfair things. If you have complaints about Mr. Cooper, you can share them.
Mr. Cooper is a mortgage loan servicer. A mortgage servicer is a company which sends you mortgage statements and manages the loan you have. They are responsible for handling any questions you have, keeping track of your payments, and any interest you owe. A loan servicer can service loans that they have originated but they can also service loans originated by other companies.
Mr. Cooper is also a direct lender. A direct lender is the financial institution that loans you money for a mortgage. A direct lender is different from a mortgage loan servicer in that the lender is the organization that lends you money or gives you a loan but the servicer is the organization that keeps track of that loan and your repayments.
Mr. Cooper is also a debt collector. As a collection agency, they take over mortgages or debt from other companies at a fraction of the cost, and then follow up with you for repayment. A debt collection company buys debt for a fraction of the value and takes over trying to collect money from you on behalf of that debt.
There are many situations where lenders don’t want to maintain the loan so they use a company like Mr. Cooper to manage the loan. Mr. Cooper is primarily a mortgage loan servicer so they service loans that other companies sell to them.
As of 2022 the CEO of Mr. Cooper was Jay Bray. He has worked for the company since 2000.
Mr. Cooper Group owns Mr. Cooper. Mr. Cooper is a non-bank company that provides full service loans.
Mr. Cooper is headquartered in Texas. Their address is 8950 Cypress Waters Blvd, Coppell, TX 75019.
Yes, Nationstar is the same as Mr. Cooper. In 2017 Nationstar was one of the largest mortgage servicers with over three million customers. They were rebranded as Mr. Cooper.
Yes, Seterus is now part of Mr. Cooper. In 2019 Mr. Cooper acquired Seterus from IBM.
Mr. Cooper’s main phone number is 833-685-2567. Their regular hours of operation are between 7 a.m. and 8 p.m. central Time Monday through Thursday, 7 a.m. through 7 p.m. central Time on Friday, and 8 a.m. through 12 p.m. central Time on Saturday. You can also sign into your account and use the secure message center.
To speak with a person if the main customer service line does not work you can call 888-480-2432, but be advised if you are reaching out to customer service for something like payments, they will charge you up to $19 for speaking with a person. You can submit a complaint about bad customer service too.
FairShake complaints about Mr. Cooper have to do with late payment fees, false advertising, and misleading marketing. Mr.Cooper has a legal complaint center where you can submit online complaints, download and mail forms. If you live in New York, you can submit a complaint with the New York State Department of Financial Services by calling 1 800-342-3736. If you are in the state of Texas there is a toll free Texas department of savings and mortgage lending complaint line you can call at 2 877-276-5550.
You can pay Mr. Cooper online with a one-time payment or recurring payments through the website. If you want to send your payment by mail you can send it through regular mail to: Mr. Cooper PO Box 650783 Dallas, TX 75265 OR overnight mail to Mr. Cooper 3000 Kellway Drive, Suite 120 Carrollton, TX 75006. You can also pay over the phone by calling 833-685-2567 and following the automated instructions. For this you need your account number in the last 4 digits of your Social and there is a fee up to $14. If the automated system doesn’t work, you can speak with an actual person at 888-480-2432 but they will charge you up to $19 for this. Other payment options include sending a Western Union payment or a MoneyGram payment.
A payoff letter provides you with the exact amount of money you still have left to pay off on a mortgage including any interest or fees.
If you are owed a payoff letter from Mr. Cooper, you can request one over the phone at 850-685-2567 or online through your online account. You can also send a short letter stating that you want your payoff letter, but include your confirmation, the address of your property, and your loan number. Send this letter to: Mr. Cooper Attn: Payoff Department 800 State Highway 121 Bypass Lewisville, TX 75067. Be advised that is a $30 fee for every payoff letter they send and an expedited delivery fee up to $25 for every payoff letter.
There may not be public information out there about all current legal proceedings.
We do know that Mr. Cooper settled a class-action lawsuit in 2020 for illegal foreclosures, paying $90 million in refunds to customers and $6.5 million in penalties. These lawsuits were brought against the company in the state of Connecticut and in the state of California. Mr. Cooper settled in both. The company is also facing another class action lawsuit in North Carolina.
You can send a complaint against Mr. Cooper to the Consumer Finance Protection Bureau, the Federal Reserve, or a regulatory agency for Mr. Cooper. You can also make a complaint against Mr. Cooper with FairShake.
If you think you have been harmed by Mr. Cooper you can make a compensation claim. Exactly how you can make a claim against Mr. Cooper depends on many factors including your contract with Mr. Cooper. If you suffered a breach of contract, you might have legal protection depending on the situation.
How you can sue Mr. Cooper is dependent on your contract and the size of your complaint. You might be able to sue Mr. Cooper in small claims court, with arbitration, or using a traditional court case. It’s recommended that you consult with a lawyer who can evaluate the specifics of your situation. If you submit your complaint to FairShake, it will be shared with eligible lawyers who will review your situation.
This is a question for a lawyer. Class action lawsuits against companies like Mr. Cooper are usually good for groups of people who all suffered from the same relatively minor harm. All of these individuals come together under one law suit instead of individually filing. However, the terms of your contract with Mr. Cooper may or may not allow class action lawsuits.
This depends on your situation. Before a lawyer takes on a case, they will consider things like whether the company violated their obligations against you and caused you harm by doing so, how much money is involved, and what evidence you have. If a lawyer decides that you have grounds for a case, they could be willing to represent you against Mr. Cooper.
The Ultimate Guide to Consumer Complaints
Learn More