Mr. Cooper Logo
star star star star star_half

6.4

Overall Score

LAST UPDATED: November 23rd, 2022

Mr. Cooper, formerly known as Nationstar Mortgage, is a direct online lender specializing in new home loans and refinancing.  The company offers a variety of loan types and the convenience of managing your loan online or through the Mr. Cooper mobile app.

Continue reading for a full review of this company or jump down to read Mr. Cooper reviews from real customers.

Top Ranked Companies

thumb_up

The Good

  • Mortgage Rates
  • Variety of Loan Types
  • Refinancing Options
  • Mr. Cooper Mobile App
  • Mr. Cooper Reviews

Mortgage Rates

Mr. Cooper's rates are comparable with other mortgage lenders. Daily updated rates are provided on the Mr. Cooper website which can help you make monthly payment estimates — many mortgage lenders don't provide updated rates on their websites.

Variety of Loan Types

For a new home purchase, Mr. Cooper offers various loan types, including some government-insured options that can make homeownership a reality for more homebuyers:

  • Conventional Loan
  • FHA Loan
  • VA Loan
  • Jumbo Loan

For a conventional loan, you can choose between a fixed rate mortgage or an adjustable rate mortgage (ARM), which can affect your starting interest rate and subsequent monthly payments.

Refinancing Options

If you'd like to lower your monthly payment, refinancing can be a good option, and Mr. Cooper provides three refinancing options:

  • Cash Out Refinance — a common refinance option for any loan type
  • FHA Streamline Loan — if you already have a FHA loan, you could lower your monthly payments further with a FHA Streamline loan
  • VA IRRRL (Interest Rate Reduction Refinance Loan) — can only be used to refinance a VA loan and can typically secure you a lower mortgage rate

It is worth noting that Mr. Cooper doesn't offer any home equity products.

Mr. Cooper Mobile App

Mr. Cooper makes it easy to manage your mortgage anywhere and at any time with its mobile app. Available on both iOS and Android devices, you can easily make monthly payments, check your credit score, or access and keep track of important mortgage documents.

Mr. Cooper Reviews

Mr. Cooper reviews are currently limited, but they are primarily positive with the majority of customers awarding the company 4 or 5 stars. Satisfied customers frequently highlight the following from their experience with the lender:

  • Smooth and easy online payment system
  • Exceptional mobile app
  • Responsive and knowledgeable customer service reps

We aren't able to give a conclusive recommendation of this company because reviews are currently limited, but based on current sentiment and ratings, Mr. Cooper could be a good choice for your mortgage needs.

thumb_down

The Bad

  • No USDA Loans

No USDA Loans

While Mr. Cooper does offer FHA and VA loans, common types of government-insured loans, it doesn't offer a USDA loan option. USDA loans are insured by the U.S. Department of Agriculture and provide a specialized zero down mortgage option for homeowners looking to purchase an eligible rural property.

gavel

The Bottom Line

Mr. Cooper provides various loan options with competitive interest rates for both new home purchases and refinances. Mr. Cooper also makes it simple and easy to manage your mortgage loan with an easy online application process, as well as a customer-praised mobile app.

View Best Mortgage Lenders

Was this content helpful?
thumb_up Yes thumb_down No

Star Rating

4.3

star star star star star_half

31 Reviews

Review Breakdown

5 grade

65%

4 grade

13%

3 grade

16%

2 grade

0%

1 grade

6%

Sentiment Criteria

Value

star star star star star_border

Quality

star star star star star_half

Service

star star star star star_border

Trustworthiness

star star star star star_border
cancel

Filter by:

arrow_drop_down

Sort by:

arrow_drop_down
info
check_circle

Review Source

star star star star star

Mickey Miranda San Antonio, TX

Easy access to account information and quality customer service agents available to answer any questions and needs. They are impeccably professional and accommodating to client home mortgage needs

1 week ago

check_circle

Review Source

star star star star star

John LaGreca Ocala, FL

We have had our mortgage with Mr. Cooper for over 10 years and it has been absolutely the best 10 years in our financial setting. They had set us up with a mortgage that was one half the amount we were originally paying when we purchased this home. We couldn't have been any more thankful that we found Mr. Cooper, and for putting us in a better and more affording mortgage.

4 months ago

check_circle

Review Source

star star star star star

Robert Council Murrells Inlet, SC

I had a truly great experience in all my dealings with Mr. Cooper. I will be using them again and I highly recommend the company for all your mortgage needs.

2 months ago

check_circle

Review Source

star star star star star

Christina Holmes Kalamazoo, MI

I love ease of service and the mobile app functionality. I was able to easily reach customer service with questions about serving my loan , which were quickly explained over the phone. The mobile app provided all documentation I needed and an up to date balance with escrow information.

4 months ago

check_circle

Review Source

star star star star star

J B Troutdale, OR

They have been great. Their customer service is excellent. Their app/website is well designed and easy to navigate.

3 months ago

check_circle

Review Source

star star star star star

Richard ORourke Avon Lake, OH

Excellent service. Monthly statements are comprehensive and easy to understand. Refinancing last year went very smoothly.

5 months ago

check_circle

Review Source

star star star star star

Brooke Redburn Nevada, MO

I was able to do an online payment for my very first mortgage payment instead of sending it via mail (I don’t trust the mail system very well lol) and it was super easy to set up!

8 months ago

check_circle

Review Source

star star star star_border star_border

Sirdriz77 Fairfield, CT

My loan was transferred to Mr. Cooper a few months ago, and the process has not gone smoothly at all. The wait times on the phone are always very long, and twice when I select the callback option, I received a call days later. Three stars because once I finally got a hold of someone from the executive resolutions team she actually listened to what I was saying, knew how to solve it, and made sure that it got done.

10 months ago

check_circle

Review Source

star star star star star

James Mich Schaumburg, IL

Everybody from start to finish was very helpful. They were able to answer all my questions at every step. They have an easy website and loan process on line which made it easy to track where our loan process was at any time. Closing date was very close to there original estimate . I would recommend them for a home loan or refinancing.

1 year ago

check_circle

Review Source

star star star star star

Brittany Mayes Mooresville, NC

The app is phenomenal. Best mortgage app by far. It’s very user friendly. Also, the ability to chat during the loan process was great. The accessibility of the Mr. Cooper representatives was above par. Can’t say enough great things about them

1 year ago

check_circle

Review Source

star star star star star_border

Daniel Johnson Barrington, IL

Mr. Cooper has taken over my mortgage as of recently. And, of course, this becomes a, somewhat, tedious task to get everything transferred. The customer service proved to be quiet exceptional in the process, and was able to make the experience much more pleasant. In researching the company, I believe they also provide other benefits, as well. Thus far, I would highly recommend Mr. Cooper for a mortgage company.

1 year ago

check_circle

Review Source

star star star star star

Rosie Ewing Houston, TX

The agents are very knowledgeable and responsive to any request. My questions or issues are resolved with one phone call. They frequently offer opportunities to review your mortgage to make sure you are getting the best deal.

1 year ago

star star_border star_border star_border star_border

Darlene M. Dortch Chicago, IL

They only care about profit. Customer Service attitude is nasty like a Collection's or slick Used Car Sales Department attitude no matter what your call is about ie rates, escrow with extreme long wait periods. The website needs work...it has very limited questions and resolutions. They do not try to work mutually beneficial or fair solutions if you have a life crisis, health challenge, income is reduced, loss of income, or COVID-19 income loss. I HAVE EXPERIENCED all of the above, have never been late with excellent credit score that I am struggling to keep. They jerk people around offer solutions they cost more than regular barely making payment is so I must choose between medical care, food (pantry only mostly), utilities partially paid etc. They have not even before COVID-19 with proof tried to help. They are hungry hoping you will miss a payment especially if you live in a decwnt area to firecloae and sell at a profit. I hate that my loan was sold to them. Refinancing to a lower interest rate is very expensive out of pocket and more legal yet unethical, trickster ways and offers.

2 years ago

check_circle

Review Source

star star star star star

DogLover17 Macomb, MI

I have had a great experience working with Mr. Cooper. They have been easy to work with and thus I have had a positive experience. The staff is friendly and knowledgeable.

10 months ago

check_circle

Review Source

star star star star star

Luke Swierczynski Waterford, MI

This place serviced my mortgage for a while and there site was alright. Never had any issues since we just set up auto pay. I wouldn't be upset if my loan was sold to them again to be serviced.

1 year ago

check_circle

Review Source

star star star star star

Rick Froid Park Ridge, IL

My Favorite mortgage company to date ! Wonderful company and very nice & easy to use website to retrieve your info at anytime. Just celebrated our 10th year with them.

1 year ago

check_circle

Review Source

star star star star star

Bess Wilfong St Louis, MO

My mortgage loan was transferred to Mr. Cooper, and I've received excellent service since then.

7 months ago

check_circle

Review Source

star star star star star

Jason McDonald Columbus, IN

Mr. Cooper's website it pretty darn slick. It's intuitive and easy to maneuver. Their customer service agents are generally friendly and competent.

2 weeks ago

check_circle

Review Source

star star star star star

hemant mahidhara Grafton, MA

I refinanced with Mr Cooper last year and got a very good rate. The entire process was very clear and transparent, no surprises.

1 year ago

check_circle

Review Source

star star_border star_border star_border star_border

Jmarsh Macomb, MI

I have been a happy customer of Mr. Cooper; however, recently they had an error in their computer systems and through auto payment drained my bank account. Granted, a few days later they replaced my money, they did not bother to contact me via any form of comment. My bank contacted me on a Saturday. It took 4 hours for me to get through to Mr. Cooper. They were aware and swamped but could have easily contacted those customers and informed them of the situation via email, auto call, message, anything. There was no attempt on their end which makes me very upset.

1 year ago

star star star star_border star_border

Jacqueline Proctor Feasterville, PA

We have until the 16th of the month to make a payment, but they begin calling as soon as the first of the month arrives.

4 years ago

check_circle

Review Source

star star star star_border star_border

Jessica McAdory Garland, TX

Fees are too expensive. Don't like to do midyear true-ups of escrow accounts.

4 months ago

star star star star star

IRIS LOPEZ Houston, TX

Very low interest rate,I have never had an issue with this mortgage company!

4 years ago

check_circle

Review Source

star star star star_border star_border

enelson3903 Bowie, MD

Mr. Cooper seems to be a good company. I am not happy after being a customer so long the did not help me with refinancing.

1 year ago

star star star star star

Michael DAmato

great service and a great interest rate

2 years ago

star star star star star

CYNTHIA CARPINELLI

Great. Great customer service

2 years ago

star star star star star

Ernesto Lozano

Never a problem. I can talk to a real person.

4 years ago

star star star star star_border

Christina and Roland McGeorge

They help you and have good customer services.

4 years ago

star star star star_border star_border

Elizabeth A Martin

Communication is poor, working with existing customers is poor

4 years ago

check_circle

Review Source

star star star star star_border

John Dittmer Lorton, VA

Mr. Cooper was very helpful in my latest re-finance application.

5 months ago

check_circle

Review Source

star star star star star_border

RB Lancaster, CA

Professional. Their app is user-friendly.

1 year ago