Mr Cooper's Mortgage: How Big Is It Really?

Mr. Cooper is a large national mortgage lender and one of the nation's largest mortgage servicers, formerly known as Nationstar. It offers a range of mortgage options, including conventional loans, investment property loans, and FHA and VA loans, as well as free 45-day rate locks and a Close on Time Guarantee. Mr. Cooper has received mixed reviews, with some customers praising its seamless application process, while others have raised concerns about a security breach and issues with consumer trust. In March 2025, it was announced that Rocket Companies, the nation's largest lender, would acquire Mr. Cooper in an all-stock deal valued at $9.4 billion, creating a company that would represent one in every six mortgages in the United States.

Mr Cooper is a non-bank mortgage lender and servicer

Mr. Cooper is a non-bank mortgage lender and servicer, formerly known as Nationstar. It is one of the largest mortgage servicers in the US, offering a variety of lending and servicing products, services, and technologies. Mr. Cooper is based in Dallas but operates throughout the US, Puerto Rico, and the US Virgin Islands.

As a mortgage servicer, Mr. Cooper processes monthly payments, escrow, taxes, and insurance. The company also helps customers understand their relief and refinancing options. Mr. Cooper is known for its focus on customer care and for making the homeownership journey less stressful and more rewarding. The company offers a seamless application process, a 120-day pre-approval window, and a Close on Time Guarantee for those purchasing a new home with a conventional loan.

Mr. Cooper provides a range of loan options, including conventional loans, investment property loans, and government-backed loans such as FHA and VA loans. The company also offers loans for vacation or second homes and self-employed borrowers. Mr. Cooper has an award-winning mobile app that helps customers find new ways to accomplish their goals, such as buying or selling a home. The app provides detailed information on home value and equity and allows users to browse listings and set up property alerts.

In March 2025, it was announced that the mortgage company Rocket Cos. is acquiring Mr. Cooper in an all-stock deal valued at $9.4 billion. This acquisition will create a business representing one in every six mortgages in the United States, with almost 7 million additional clients. The combined company will be led by a board and leadership team consisting of members from both Rocket and Mr. Cooper.

Mr Cooper offers a Close on Time Guarantee

Mr. Cooper is a large national mortgage lender with a range of loan options, including conventional loans, investment property loans, and FHA and VA loans. The company also offers a Close on Time Guarantee for customers purchasing a new home with a conventional loan. This guarantee is available in all states, Puerto Rico, and the US Virgin Islands.

The Close on Time Guarantee assures customers that their loan will close on or before the contract closing date. If the loan does not close on or before this date, Mr. Cooper will cover the customer's first month's mortgage payment (principal + interest). To be eligible for this guarantee, customers must submit a complete application for a purchase money home loan product directly to Mr. Cooper, provide a fully executed purchase contract with all required signatures and addendums, and supply all requested supporting documentation, including income and asset verification documents. All required documents must be submitted electronically using Mr. Cooper's online portal, Loan Tracker.

Mr. Cooper's pre-approval process is also designed to be seamless and lasts for 120 days, compared to the typical 30- or 60-day windows offered by other lenders. Their VerifiedApproval offering generates an approval letter when customers are ready to make an offer on a home, and their StreetSmarts tool allows users to browse listings and set up property alerts.

In addition to its lending services, Mr. Cooper also acts as a mortgage servicer, handling day-to-day tasks such as escrow, taxes, insurance, and processing monthly payments. The company provides full digital access to customers' mortgages, along with detailed information on home value and equity. They also offer an award-winning mobile app that helps customers find new ways to achieve their goals.

Mr Cooper has a NerdWallet home loans rating of three stars

Mr. Cooper is a non-bank mortgage lender and servicer that operates throughout the U.S. The company is based in Dallas and offers a variety of mortgage options, including conventional loans, investment property loans, and FHA and VA loans. They also provide a Close on Time Guarantee for those purchasing a new home with a conventional loan, ensuring that the loan will close on or before the contract closing date.

While Mr. Cooper has a three-star rating on NerdWallet, its customer satisfaction ratings are mixed. The company received a below-average score in J.D. Power's 2023 and 2024 U.S. Mortgage Origination Satisfaction Studies and has accumulated over 1,900 complaints in the past three years with the Better Business Bureau. However, it has favourable reviews on Trustpilot, with a customer rating of 4.88 out of 5.

Mr. Cooper's average mortgage rates and fees are based on data from its parent company, Nationstar Mortgage. The company offers a RateSwap program that waives the origination fee for any Mr. Cooper refinance within three years. They also have a partnership with Xome, an online platform for home listings and live real estate auctions.

Mr. Cooper provides full digital access to mortgage information, an award-winning mobile app, and a 100% U.S.-based home advisor team to assist customers with their home loans. The company guarantees to close loans on time or cover the first month's mortgage payment.

Mr Cooper is available online and via a mobile app

Mr. Cooper is a large national mortgage lender with a strong online presence and an award-winning mobile app. The company was formerly known as Nationstar and is now a non-bank mortgage lender and servicer. Mr. Cooper offers a range of mortgage options, including conventional loans, investment property loans, and FHA and VA loans, as well as free 45-day rate locks and a "Close on Time Guarantee" for those purchasing a new home with a conventional loan.

The company's website provides a seamless application process, with pre-approval available online or via the app. The StreetSmarts tool on the website and app allows users to browse listings and set up property alerts, aiding in the home search process. Mr. Cooper also provides full digital access to mortgage details, allowing customers to easily make monthly payments, check their FICO® Score, and access important mortgage documents securely.

The Mr. Cooper mobile app has received recognition for its user-friendly design and functionality. It empowers users to access their home's equity, providing opportunities to utilise their most significant asset. The app offers valuable insights and tools to help customers make well-informed decisions regarding their homes.

In addition to its online and mobile app services, Mr. Cooper provides a dedicated team of 100% U.S.-based home advisors. This team of experts guides customers through the complexities of home loans, ensuring a comprehensive understanding of their financial journey towards homeownership. Mr. Cooper's combination of digital accessibility and personalised advice creates a supportive ecosystem for its customers.

Mr Cooper is a large national mortgage lender

Mr. Cooper is a large national mortgage lender based in Dallas, Texas. It is one of the nation's largest mortgage servicers, offering a variety of lending products, services, and technologies. Mr. Cooper provides a range of loan options, including conventional loans, FHA loans, VA loans, and investment property loans. They also offer a Close on Time Guarantee, ensuring that your loan will be closed on time or the first month's mortgage payment is on them.

Mr. Cooper has a strong focus on customer care and aims to make the homeownership journey less worrisome and more rewarding. They provide full digital access to your mortgage anytime, anywhere, along with detailed intel on your home value and equity. Their award-winning mobile app assists you in finding new ways to accomplish your goals and connects you with a 100% U.S.-based home advisor team.

In terms of their lending capabilities, Mr. Cooper is licensed to lend throughout the United States, Puerto Rico, and the U.S. Virgin Islands. They offer a seamless application process through their website and app, with a 120-day pre-approval window—significantly longer than the typical 30- or 60-day period offered by many lenders. Additionally, their StreetSmarts tool facilitates your home search by allowing you to browse listings and set up property alerts.

Mr. Cooper has experienced some challenges, including a security breach in 2023 that compromised the personal data of nearly 15 million borrowers and other issues that have impacted consumer trust. Despite this, they have continued to grow, with Rocket Companies acquiring Mr. Cooper in an all-stock deal valued at $9.4 billion. This acquisition brings together two significant players in the mortgage industry, creating a company representing one in every six mortgages in the United States.

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