Date Received: 2022-03-17
Issue: Improper use of your report
Subissue: Received unsolicited financial product or insurance offers after opting out
Consumer Complaint: I called Mr. Cooper on XX/XX/XXXX to inquire about a recent increase in my mortgage payment. I was informed that it was driven by a recent increase in property taxes. The representative then informed me that he could do a complimentary " health check '' of my mortgage, and asked for my consent which I obliged. After a brief hold, the representative informed me that he checked, but based on current market rates refinancing would not be beneficial for me. It was at that point I realized he ran my credit for refinancing options. At no point prior to this did he mention refinancing at all. Had he done so, I would have declined. I called back on XX/XX/XXXX and requested to speak to a manager to voice my concerns over how the matter on XX/XX/XXXX was conducted. In speaking with the representative, she continued to stall transferring me to a manager. We discussed my previous call and indicated that despite the previous representative 's advice, she believed refinancing would be beneficial. She indicated that refinancing would be my only option to remove PMI from my payment. I questioned whether the increase in interest that I would incur over the course of the loan as a result of refinancing would make sense and she assured me it would and that I would be responsible for paying PMI for the duration of the loan otherwise. Based on the Homeowners Protections Act of 1998, I know this to not be true. The representative also mentioned the amount of equity I now have in my home, and after doing some research of my own, it appears I in fact would be a candidate for PMI removal based on the current value of my home and loan. That said, the representative put me on hold for over 20 minutes while she researched further. I ended up hanging up at that point because I had zero confidence that she would finish assisting me. That call lasted for XXXX minutes without any resolve to my original intent for calling. It appears to me that the representatives at Mr. Cooper are influencing consumers into refinancing based on false and inaccurate information. They indicate to be " licensed mortgage professionals '' but lack full transparency when speaking to consumers as well as comprehensive knowledge of mortgage guidelines. If my credit is being ran for a loan application that should have been clearly communicated upfront, versus using vague terminology.
Company Response:
State: NC
Zip: 28278
Submitted Via: Web
Date Sent: 2022-03-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-17
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Thank you very much for reviewing my complaint and for your help in this matter. On XX/XX/2022 I contacted Mr. Cooper mortgage company and spoke with a customer service representative regarding my PMI. I informed the the rep that I would like to pay my principal to below the threshold of loan to value so that I could remove PMI per the Homeowner 's Protection Act. I was informed that I would have to make the payment XXXX and then after the payment was made they would initiate a process to determine whether or not they would remove PMI from my loan. Obviously that was not an option for me considering the payment I would be making is tens of thousands of dollars. I reported my unhappiness with this result and was contacted again on XX/XX/2022 by a supervisor. She told me that the information I had received was correct and then proceeded to try to convince me to refinance at a much higher interest rate than my current loan to remove PMI. I informed her that I was aware of the interest rates that are currently in the market and had done my research regarding the Homeowner 's Protection Act. I told her that I would be doing whatever I could to remove PMI from my current loan regardless of the policies that she told me are in effect. She informed me that that would not be possible that their policies required the payment upfront and then they could initiate the process to review my loan and determine if they would remove PMI even though my loan to value ratio would be well below the 78 % threshold. I even offered to sign an affidavit to guarantee that I would put the aforementioned money towards my principal if they would initiate the process XXXX and let me know if they would be willing to take the PMI off after the payment is made so that I did not put down a large chunk of money without receiving the outcome that I wanted. I was flatly denied. Please help!!!!
Company Response:
State: IN
Zip: 46229
Submitted Via: Web
Date Sent: 2022-03-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-16
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: Home loan transferred servicers during the home sale closing period. Purchaser title agency wired mortgage payoff amount in the period of XX/XX/XXXX - XXXX, {$300000.00} including 7 days per diem interest, to loan transferrer ( XXXX XXXX ) on XXXX. Loan transferrer then sent the funds to transferee Mr. Cooper and funds were received XXXX. Mr. Cooper sat on the funds for an additional 5 days ( XXXX ) then requested more funds on XX/XX/XXXX. {$370.00} in interest fees and {$64.00} for a late fee. Requested additional funds were wired to Mr. Cooper to avoid additional interest fees and delaying the home sale closing process. All parties paid funds on time therefore there should be no additional interest or late fees.
Company Response:
State: WA
Zip: 980XX
Submitted Via: Web
Date Sent: 2022-03-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-16
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In the recent days ( past 3 months ) I have made multiple additional principal payments to my mortgage account. However the loan service company is reflecting these payments as regular payments and directing the funds towards escrow, interest and principal. I had to make several customer service calls to fix this issue. On last encounter with same issue the company has assured me such incidents will not repeat. However my recent additional principal payment was again reflected in the same way. This is a serious issue mismanaging my funds.
Company Response:
State: NJ
Zip: 08844
Submitted Via: Web
Date Sent: 2022-03-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-16
Issue: Communication tactics
Subissue: You told them to stop contacting you, but they keep trying
Consumer Complaint: Mr. Cooper Mortgage, Loan Number XXXX We are in the process of a load modification and we were asked not to pay until we get a new bill with the refinanced amount as part of our agreement. The company has not been able to reflect this agreement in the system, and they called my husband 's place of employment 3 times the week of XX/XX/XXXX to collect on a balance that was not owed. I called Mr. Cooper on XXXX and XX/XX/11 and provided my phone number and advised not to call work. Mr Cooper called my hsuband 's place of employment again on XXXX and left a message on XXXX specifying the balance past due and sensitive information for my husband 's place of employment to hear on the main line on speaker. The recorded message where Mr. Cooper left a message clearly states that it was a business by the name of XXXX XXXX of XXXX that they were contacting and it was a general line. Mr Cooper proceeded to leave a message and at this point it is harassment and a very embarrassing position to be in. This is against FTC laws. Please help us with getting this terrible practice removed from this firms ways of working. Regards XXXX XXXX XXXX
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers
State: TX
Zip: 77581
Submitted Via: Web
Date Sent: 2022-03-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-16
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Our loan was sold from XXXX XXXX to Mr. Cooper. We were told to continue paying XXXX XXXX. We have never been late on our mortgage payments and have always been on time for four years. But when our loan was sold to Mr. Cooper it has been a disaster. We sent our mortgage payment into XXXX as usual for the month of XXXX, either at the end of XXXX of XXXX we were notified to start paying Mr. Cooper so we sent them a check at the beginning of the month which was XX/XX/XXXX. But now Mr. Cooper says we never sent the payment in XXXX ( which we weren't notified about and already sent a payment to XXXX ) so now Mr. Cooper is claiming we're in default!
Company Response:
State: GA
Zip: 31069
Submitted Via: Web
Date Sent: 2022-04-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-16
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Hi, I was on a forbearance plan for 18 months period during Covid-19 with Mr. Cooper XXXX XXXX XXXX At the end of the plan, they scheduled me a trial payment which was due before XX/XX/XXXX. I made a payment of XXXX on XX/XX/XXXX. The solution that they offered was to move 18 payments to the end of my loan and pay escrow and taxes for unpaid months as separate installments for 12-24 months. For some unknown to me reason, this solution ( accepted by me ) got rejected by Mr. Cooper. I called them multiple times saying that I am ready to resume payments, but my account is not eligible to make payments. I received text messages, emails, and mails that my payments are overdue and I need to contact Mr. Cooper immediately. They keep apologizing, saying that I need to wait until the system finishes processing the request, but nothing is happening for a month. My online account displays the amount I have to pay for all 18 months of forbearance. It looks like I got caught in a mousetrap by this company. They advertised false programs to help families during Covid 19. I can not pay for 18 months of the mortgage at once. Today someone knocked on my door and handed me a mail, saying that I need to call my mortgage company as soon as I can.
Company Response:
State: MA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2022-03-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-16
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I sold a house and paid off my loan in XX/XX/XXXX. I did not receive my {$5300.00} escrow reimbursement disbursement check issued XX/XX/XXXX. I contacted Mr Cooper customer service many time to request reissue of the disbursement check. Mr Cooper acknowledges that they owe me money, and they also identified an additional escrow reimbursement check in the amount of {$230.00} from XX/XX/XXXX that was never cashed, but they will not process the request. Most recently... - XX/XX/XXXX via email to XXXX ( no response ) - XX/XX/XXXX via phone. Rep told me they would initiate process to reissue check. - XX/XX/XXXX via phone. Rep again told me they would initiate process to reissue check. - XX/XX/XXXX via phone. Rep again told me they would initiate process to reissue check. I have customer services rep names, manager names and detailed notes for each of the above contacts. The customer service reps are very pleasant, and acknowledge that they owe me the above amounts, but there is absolutely no follow up after conversations. Radio silence.
Company Response:
State: FL
Zip: 32779
Submitted Via: Web
Date Sent: 2022-03-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-16
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: On XXXX my husband received a phone call from Mr. Cooper mortgage company to see if we were interested in refinancing. My husband said we would not be interested due to the high interest rates. The next day the mortgage broker called again and asked if wed like to proceed and my husband told him that he would consult with his wife. On XXXX I received an alert from XXXX that Mr. Cooper obtained a copy of my XXXX Credit Report. I never spoke to this company to provide an authorization to pull my credit. I am not even an account holder with Mr. Cooper and have no idea how they were able to obtain my social security number. I also have a fraud alert on my credit report that will not allow a company to run my credit without confirming my identity via the provided phone number. No such verification call was ever made to my phone number.
Company Response:
State: CO
Zip: 80104
Submitted Via: Web
Date Sent: 2022-03-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/2022, I made two on-line payments to pay off my mortgage. The first payment was for {$57000.00}, which was just below the mortgage company 's policy limit of 95 % of balance for on-line payments. The second payment was for {$3900.00}. Both payments were accepted by the mortgage servicer and withdrawn from my bank account on XX/XX/XXXX. Mr. Cooper, the mortgage servicer, applied the second payment toward XXXX 's payment instead of principal only, and thereby made the {$57000.00} payment ineligible for processing because it exceeded their policy of allowing on-line payments for no more than 95 % of the remaining balance. After several calls and chat sessions ( all transcripts of chats have been saved ) with Mr. Cooper, I thought we had the problem resolved and the mortgage would be paid off. By today, the payment should have been credited to my account. Since today is the fifth day after submitting the payments, Section 1639 ( f ) of 15 USC ( Truth in Lending Act ) should apply even if the payments are considered non-conforming by the mortgage servicer. The payments have not been applied by close of business today. They still show as " unapplied funds. '' Adding insult to injury, Mr. Cooper took funds from my escrow account to make partial -- and early -- payment toward the XXXX payment. In other words, they are continuing to apply principal payments toward monthly interest when the loan should be paid off.
Company Response:
State: WA
Zip: 98908
Submitted Via: Web
Date Sent: 2022-03-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A