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About Mr. Cooper
Mr. Cooper is an online mortgage lender that lends in all 50 states and Washington, DC. It offers the following types of mortgages:
To get a mortgage with this lender, you'll need to either start an application online or talk to a loan officer over the phone.
Is Mr. Cooper Trustworthy?
Mr. Cooper has an A+ rating from the Better Business Bureau. The BBB evaluates companies by looking at responses to customer complaints, honesty in advertising, and transparency about business practices.
Mr. Cooper does have some recent controversies, though.
In 2020, the Consumer Financial Protection Bureau filed a complaint against Nationstar, which is what Mr. Cooper used to be known as, claiming that between 2012 and 2016 it unlawfully foreclosed on borrowers who had loan modifications. Additionally, in 2021, Mr. Cooper's reverse mortgage servicing division Champion settled allegations from the New York Attorney General that it failed to provide clear information for borrowers at risk of losing their homes.
Also in 2021, the CFPB announced it was looking into an incident in which Mr. Cooper made duplicate withdrawals from thousands of customers' bank accounts due to an issue with its electronic payments vendor. According to Mr. Cooper, the lender worked with the impacted customers' banks to ensure customers wouldn't be responsible for fees related to the error.
This lender ranks low on J.D. Power's 2022 Primary Mortgage Origination Satisfaction Study, which measures customer satisfaction. However, on its Trustpilot page, it has a 4.2 out of 5-star rating, based on over 3,000 customer ratings.
Mr. Cooper Interest Rates and Fees
You can see a couple sample rates by clicking "Rates" at the top of Mr. Cooper's main webpage. To get a rate that's personalized to your own financial situation, you'll need to call and speak with a loan officer or fill out a form online so someone can reach out to you.
Mr. Cooper says it generally charges borrowers an origination fee of $1,295 on a typical conforming mortgage. Other mortgage types may have different lender fees. In 2022, the average borrower getting a conventional mortgage with this lender paid $6,118 in origination charges, according to HMDA data. This is relatively high compared to other mortgage lenders.
Mr. Cooper: Overall Lender Rating
| Feature | Insider rating (out of 5) |
| Loan types | 3 |
| Affordability | 3 |
| Customer satisfaction | 2.6 |
| Trustworthiness | 4 |
| Total | 3.15 |
Mr. Cooper: Pros and Cons
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Mr. Cooper FAQ
Is Mr. Cooper legit?
Yes, Mr. Cooper is a legitimate mortgage lender that lends in all 50 states.
Is Nationstar Mr. Cooper?
Yes, Mr. Cooper used to be known as Nationstar. The company rebranded to Mr. Cooper in 2017.
Does Mr. Cooper offer HELOCs?
No, Mr. Cooper doesn't currently offer HELOCs. It does offer home equity loans.
What are Mr. Cooper's mortgage rates?
Mr. Cooper displays sample mortgage rates for 30-year and 15-year fixed conforming mortgages. To get a customized rate, you'll need to talk to a loan officer.
What is the minimum credit score for Mr. Cooper?
You'll need at least a 620 credit score to get a conforming mortgage with Mr. Cooper.
How Mr. Cooper Compares
Mr. Cooper vs. Better Mortgage
Better offers HELOCs, while Mr. Cooper offers home equity loans.
Mr. Cooper vs. Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation has physical branches throughout the country, while Mr. Cooper has none, so which of these lenders is best for you might depend on whether you want an in-person or completely remote process.
Why You Should Trust Us: How We Reviewed Mr. Cooper
To review Mr. Cooper, we used our methodology for reviewing mortgage lenders.
We look at four factors — loan types, affordability, customer satisfaction, and trustworthiness — and give each a rating between 1 and 5, then average these individual ratings for the overall lender rating. Lenders get higher ratings if they offer a high number of loan types with affordable features, have positive customer reviews, and don't have any recent public controversies.