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Scams have cost consumers millions of dollars and homeowners are among scammers’ top targets. Mortgage scam artists may prey on a homeowner’s need to apply for mortgage assistance, or simply a desire to refinance. They may pose as a mortgage company, a non-profit, or a government agency. They may target homeowners by mail, email, phone, text, social media, or in person. Here are 8 of the top ways to stay protected.
Note: If you’re a Mr. Cooper customer, we may contact you by email or text from time to time. Follow the tips in this article to help ensure it’s really us. We’ve also listed information on our communication practices below. When in doubt, don’t respond—contact us directly.
1. Only apply for mortgage assistance with Mr. Cooper
If you ever need to request mortgage assistance due to a financial hardship or disaster, beware that scammers often target homeowners in need. Regardless of the circumstance, only apply for assistance with Mr. Cooper. As your mortgage servicer, you must apply through us, though scammers may lead you to believe otherwise. Contact us through verified phone numbers, websites, or email addresses, as scammers may pretend to be us.
2. Be suspicious of unsolicited and government offers
Don’t respond to unsolicited mortgage offers unless you verify them first. Contact sources using confirmed phone numbers, emails, etc. If the source isn’t familiar, also look up their business history and research any complaints. That said, we may reach out to you to offer help or other services. Follow the tips within this article to help ensure it’s really us. When in doubt, stop communicating and contact us directly.
Additionally, be suspicious of offers directly from government agencies. Government agencies like HUD and the Consumer Financial Protection Bureau (CFPB), and government-sponsored entities like Fannie Mae or Freddie Mac, will never contact you to offer you a loan modification, for example. According to the FCC, government agencies will also “never call, email, text, or message you on social media to ask for money or personal information.”
3. Contact HUD-approved housing counselors for help
If you need help understanding mortgage relief options or negotiating with us, contact a HUD-approved housing counseling agency. They provide a range of services supporting homebuyers and homeowners, including free foreclosure prevention and debt management information. If you need translation or other language assistance, those options are available, too.
Beware that scammers may also pose as a HUD representative or counselor. In reality, legitimate housing counselors will not contact you first to discuss mortgage assistance or other issues. Homeowners are expected to reach out to them. You can contact one of the following federal government agencies for a list of HUD-approved agencies.
- The U.S. Department of Housing and Urban Development (HUD) at 800-569-4287, 202-708-1455 (TTY), or visit HUD’s Housing Counseling Services page
- The Consumer Finance Protection Bureau (CFPB) at (855) 411-2372 or www.consumerfinance.gov/mortgagehelp
4. Watch for warning signs
In addition to contacting you out of the blue, scammers may:
- Ask you to share sensitive information or “complete a loan application” over the phone, email, text, etc.
- Send trial or modification agreements from an “Underwriting Department” or “Loan Modification Department.” Note: We don’t have an “Underwriting Department.”
- Charge a fee to apply for forbearance or mortgage assistance. Note: We never charge fees related to reviewing you for mortgage assistance workouts.
- List your full Social Security number on written communications.
- Threaten foreclosure or pressure you. Note: Bear this in mind if you ever need mortgage assistance. It should be there to help you, and if you’re ever at risk for foreclosure, we will work to help you avoid it.
- Tell you to sign over your home’s title or transfer your property’s deed.
- Tell you to send your mortgage payment to a new address or make the payment to any third party.
- Require payment upfront with unconventional methods, such as pre-paid debit cards, Walmart barcodes, or Western Union®/MoneyGram® wires to an individual, rather than Mr. Cooper.
Also beware of third parties who offer to make mortgage payments on your behalf in exchange for you providing a refund or partial reimbursement. As an example, a scammer may say, “I’ll pay $20,000 toward your mortgage, but I’ll need you to send $5,000 back.”
To make the scam hit closer to home, the scammers may claim that they’re managing the estate of a friend or relative with an inheritance, or that they’re with a credit counseling company or government agency. These scammers target the elderly, particularly. To bolster their story, they can exploit public records about your home and information available on social media.
5. Hang up on phone scams
Phone scams can sound convincing (here’s a phone scam example from the Federal Trade Commission). To avoid these:
- Don’t answer calls or texts from unfamiliar numbers. Note: We never provide personal or cell phone contact numbers in official communications related to mortgage assistance.
- Watch out for “call spoofing”—scammers can disguise their caller ID numbers and hide behind legitimate company numbers.
- Disconnect from automated calls that ask you to enter personal information, like your loan number, date of birth, Social Security number or last 4 digits—Mr. Cooper will never ask for this information in an automated call.
- Don’t scan QR codes in texts or emails that arrive unexpectedly.
If you accept a call that sounds like it’s from Mr. Cooper, take time to confirm it’s us. If in doubt, hang up and call us back on a verified number.
6. Beware of online scams
Online scams can look convincing. To prevent them:
- Be suspicious of messages that ask you to update your mortgage account’s password or fill out a loan application.
- Don’t click on links unless you can verify their URLs. Also avoid downloading attachments. These can lead straight to a virus or identity theft.
- Double-check email addresses—watch for misspellings and addresses that end in something like “gmail.com.”
7. Stay informed & take preventative steps
Check out the additional resources on preventing scams below and check for updates on these sites regularly.
- Consumer Financial Protection Bureau (CFPB)
- Federal Communications Commission (FCC)
- Federal Trade Commission (FTC)
- Fannie Mae
- Freddie Mac
- HUD Office of Inspector General
Also, take these steps to prevent scams or to stop additional fraud, if your information is ever compromised.
- Notify credit bureaus to freeze your credit: IdentityTheft.gov provides contact information for the 3 major credit bureaus.
- Use Multi-Factor Authentication (MFA): Adding Multi-Factor Authentication to accounts forces users to go through additional security measures before they can access your account. If you have an online account with us, you can enable MFA on your Settings page. (If you don’t have one yet, you can create an online account here.)
- Update passwords regularly: Research “strong password” practices, which include creating long passwords with a mixture of numbers, symbols, and upper and lowercase letters.
- Notify Mr. Cooper and the authorities immediately: See our contact information and helpful agencies below.
8. Report scams
If you believe you’ve been a victim, contact us as soon as possible by:
- Phone: 833-685-2565.
- Live Chat: Chat is available on our main website, www.mrcooper.com, in areas such as our Help Center. Live Chat agents are available during business hours—Monday – Thursday, 7 a.m. – 8 p.m. (CST) and Friday, 7 a.m. – 7 p.m. (CST). Our virtual assistant is also available for quick answers 24/7. (Please sign in first for the best experience. If necessary, you can create an online account here.)
- Secure Message Center: If necessary, you can also contact us through our Secure Message Center and live chat via your online account. (Again, if you don’t have one, you can create an online account here.)
To report scams to the federal government, contact the FBI or Federal Trade Commission. You may also want to contact the Federal Housing Finance Agency Office of Inspector General. For additional resources, visit USA.gov’s “Report Scams and Frauds” page. Your complaint may protect others.
Also, contact your bank and any shipping service if you’ve already wired or sent a payment to a fraudster. They may have the ability to stop the payment or intercept a package.
For more tips on preventing fraud, please visit our Mortgage Scams Resource Center.
Any third party trademarks and tradenames used on the Mr. Cooper® Blog are the property of their respective owners. Nationstar Mortgage LLC d/b/a Mr. Cooper is not affiliated, associated, or sponsored by any of these owners. Use of these names and trademarks is not intended to and does not imply endorsement, but is for identification purposes only. Information provided does not necessarily represent the views of Mr. Cooper. Information is subject to change without notice.
