## Mr. Cooper: Overview and Reputation
**History and Background**
Mr. Cooper is a leading mortgage servicing and origination company founded in 1978 and headquartered in Dallas, Texas. It is one of the largest non-bank mortgage servicers in the United States, with approximately 3.3 million active loans as of 2022. Mr. Cooper originated over $100 billion in new mortgages in 2021.
**Products and Services**
Mr. Cooper offers a comprehensive suite of mortgage products and services, including:
– **Mortgage servicing:** Managing loan payments, escrow administration, and customer service for mortgages held by investors or government agencies.
– **Mortgage origination:** Assisting borrowers with applying for and closing on new mortgages, refinancing existing loans, and providing loan options.
– **Home equity loans:** Lending money secured by the equity in a borrower’s home.
– **Reverse mortgages:** Providing loans to qualifying homeowners aged 62 or older that allow them to access home equity without making monthly payments.
**Customer Satisfaction**
**J.D. Power Awards**
Mr. Cooper has received several J.D. Power awards for customer satisfaction in mortgage servicing:
– Highest in Customer Satisfaction among Primary Mortgage Servicers in the Western Region (2018, 2019, 2020, 2021)
– Highest in Customer Satisfaction among Subservicing Primary Mortgage Servicers in the Eastern Region (2019, 2020, 2021)
**Better Business Bureau (BBB) Rating**
The Better Business Bureau (BBB) rates Mr. Cooper as **B+**, based on customer reviews and the company’s responsiveness to complaints.
**Customer Reviews**
Customer reviews of Mr. Cooper are generally positive, with many borrowers praising the company’s efficient and responsive customer service. However, some customers have complained about communication issues or delays in resolving problems.
## Pros and Cons of Mr. Cooper
**Pros:**
– **Strong customer satisfaction ratings:** Mr. Cooper consistently ranks highly in industry surveys for customer satisfaction.
– **Wide range of products and services:** The company offers a full suite of mortgage products, including origination, servicing, home equity loans, and reverse mortgages.
– **Experienced and knowledgeable staff:** Mr. Cooper has a team of experienced professionals who can assist borrowers with various mortgage needs.
– **Digital mortgage tools:** The company provides online and mobile tools to make it easy for borrowers to manage their mortgages and track loan progress.
**Cons:**
– **Mixed customer reviews:** While many borrowers have positive experiences with Mr. Cooper, there have been instances of communication issues or delays in resolving problems.
– **BBB rating:** The company’s BBB rating is **B+**, which is slightly lower than some of its competitors.
– **Fees:** Mr. Cooper charges various fees for its mortgage services, which can add to the total cost of borrowing.
## Is Mr. Cooper a Good Mortgage Company?
Whether Mr. Cooper is a good mortgage company for you depends on your individual needs and circumstances. Here are some factors to consider:
**Customer satisfaction:** Mr. Cooper has a strong track record of customer satisfaction, which is a key indicator of a reliable mortgage lender.
**Product offerings:** The company offers a wide range of mortgage products, making it a good choice for borrowers with diverse needs.
**Fees:** Compare Mr. Cooper’s fees with those of other lenders to ensure you are getting a competitive rate.
**Customer service:** Read online reviews and reach out to the company directly to assess their customer service responsiveness and quality.
**Reputation:** Consider the company’s BBB rating and industry awards to get a sense of its overall reputation.
Overall, Mr. Cooper is a well-respected mortgage company with a strong reputation. However, it is important to conduct thorough research and comparison shopping before choosing a mortgage lender to ensure you find the best option for your needs.