I received an email (and I guess a letter but I’m working out of the area now) from Wells Fargo that my mortgage will be serviced by Mr Cooper. I thought it was a scam email; the name sounds spammy. But it appears to be true.
Looked on BBB and Mr Cooper’s reviews are super bad including being unable to get a person on the phone. Terrible. Anyone have pointers or anyone find a way to reach a human?
Has anyone been through this change already and what are your experiences?
They were the servicer for one of my investment property loans. I never talked to them during the 7-8 year period. They have a decent enough site and provided tax documents in a timely manner.
I had them for a couple years but then I refinanced. I didn’t have any problems with them but then I didn’t have any reason to contact them. I just paid my mortgage every month on time.
I absolutely HATE MR COOPER. Everytime I call customer service (when I actually can talk to someone) they give me a new issue with my VA Exemption. I have been having issues with them for years trying to put my VA Exemption through. It’s either the customer service rep has no idea what to do or I’m either waiting on their third party branch CORELOGIC to update the system.
Now with CORELOGIC being third party there is noway to contact them in anyway (email or phone) I have put in numerous requests for them to update my mortgage payments and everytime the request goes missing or they don’t return any results.
I will be looking for a new mortgage company once this is settled and for anyone doing research on companies in the future I urge you to completely skip Mr. Cooper!
I am not familiar with Mr. Cooper, but I have had several mortgages sold and moved from company to company. It is weird how this works. In one case, at closing, we signed all the proper mortgage documents. When we thought we were finished, we were told that we had one more document to sign. This one was to acknowledge that our mortgage has been transferred to another company. We did not even get out of the closing before it moved!!!
Each time we had a mortgage move from one company to the another, I would find the website for the company that would be servicing the loan. After I sent a payment, I would login to the website and make sure the payment was received and that the proper amounts would be posted to principal, interest, and escrow. I also made sure they were paying the taxes and insurance from escrow when the taxes and insurance are due. This process is a good idea for anyone with a mortgage, no matter who the company is that is servicing the loan. Problems can happen and the longer it takes to become aware of them, the more complicated it can be to have those issues corrected.