Mr. Cooper mortgage review

Written by: Jamie Johnson
• Updated •1 min read
This date may not reflect recent changes in individual terms.
A couple seated on a sofa use a laptop to read Mr. Cooper mortgage reviews.Image: A couple seated on a sofa use a laptop to read Mr. Cooper mortgage reviews.
Editorial Note: Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse our editorial content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

Mr. Cooper, formerly Nationstar Mortgage, is a Dallas-based mortgage lender offering digital tools, a mobile app and an on-time closing day guarantee. Like many other lenders, Mr. Cooper offers conventional and government-backed mortgages.

Things to know about a Mr. Cooper mortgage loan

Tools and calculators

Mr. Cooper offers a few digital tools, including mortgage calculators, to help you work through your financial decisions.

No physical locations

There are no branch locations listed on the company’s website — if you need to get in touch with the lender, you’ll have to call customer service. Current customers can sign into the online messaging center.

The Consumer Financial Protection Bureau (CFPB) filed a complaint against the lender in 2020 when it was known as Nationstar Mortgage. The CFPB alleged Nationstar Mortgage violated “multiple federal consumer financial laws,” causing “substantial harm” to borrowers, including distressed homeowners.

A proposed judgment called for Mr. Cooper to pay $73 million to some 40,000 harmed borrowers, and an additional $1.5 million penalty to the CFPB. The proposed judgment was accepted and entered by the court in December 2020.

Who is a Mr. Cooper loan good for?

Mr. Cooper offers a variety of mortgage options, including conventional loans, VA loans, FHA loans and refinancing. You can also choose between fixed-rate or adjustable rate options.

About the author: Jamie Johnson is a Kansas City-based freelance writer who specializes in finance and business. She covers a variety of personal finance topics, including building credit, credit cards, personal loans and student loans… Read more.