Estimated reading time: 5 minutes
We’re rolling out the welcome mat for our new customers who have transferred from Wells Fargo. We are so glad to have you in the Mr. Cooper family! As one of the largest and most-established mortgage companies in the country, we’re confident you’re in for an upgraded experience all around. If you’re not familiar with us or the transfer process, here’s some information to help you get started. But if you just want to get information about your loan, visit our Welcome page to view transfer and loan details or create an online account.
Who is Mr. Cooper?
Mr. Cooper is one of the largest mortgage companies in the U.S., with more than 25+ years of experience. We’re primarily a mortgage servicer, which means we manage a loan’s day-to-day needs, from preparing statements to taking payments. If you haven’t heard of us, that’s probably because we prefer to invest in creating better customer experiences rather than putting our name on stadiums. Here are a few stats about us.
- Over 4.1 million customers1
- Largest non-bank servicer in the U.S.2
- Top 20 originator (mortgage creator) in the U.S.2
- Solid industry reviews: 4.1-star rating on TrustPilot3; 4.91 rating with Zillow3; 4.8 rating with Bankrate4; 4.5 rating with LendingTree5
Why did my loan get transferred to Mr. Cooper?
Mortgage transfers are common and happen for all kinds of reasons, but none of them have to do with the borrower. Rest assured, this is not a reflection on you at all.
Doesn’t Wells Fargo own my loan?
Mortgage owners, lenders, and servicers can all be different companies. For example, Wells Fargo may have been your:
- Lender (gave you the money for your loan); and/or
- Servicer (took your payment, sent your statements).
Mortgage owners can be trickier to name because lenders usually sell mortgages to other organizations after a loan closes. If you want to dive deeper, we have an article explaining who owns mortgages, but simply put, we’re only in the servicer role.
What are my next steps?
- Visit our Welcome page. You can look up your new loan number once you’re there, and find answers to top questions about transferred accounts.
- If you have not received it yet, please also watch your mail for our welcome kit. It will walk you through more account basics and introduce the tools and services you’ll be able to access as a Mr. Cooper customer, once your full online experience is available.
- For additional information, visit our Help Center to learn more about the new customer process.
Will anything be changing with my loan or account information?
Your most important details will remain the same, but there are a few changes to keep in mind.
- You have a new Mr. Cooper loan number—you can find this on your welcome letter or through our Welcome page.
- Your loan terms will not change, including if you were in the middle of being reviewed for mortgage assistance.
- If you already made a payment to Wells Fargo, it will be forwarded to us automatically. The entire process may take 60 days, but there will be no late fees or negative credit reporting.
- If you were set up for automatic payments, please refer to the letter you received from Wells Fargo or the welcome letter we sent you to determine if your automatic Payments will continue or if further action is required from you. If automatic payments will not continue, you can log in to your online account to set up AutoPay or select biweekly payments once your transfer is complete. For biweekly payments, you may need to make your first month’s payment in full before it can be completed. You can learn more in the Help Center or on the Welcome page.
- If you use online banking, you’ll need to update your bank’s bill pay information.
- Your escrow balance will transfer to us if you had an escrow account and we will begin making tax and insurance payments for you.
- Note: You’ll need to notify your homeowners insurance company about your transfer. Here’s information your insurer will need to know.
What are the benefits of being a Mr. Cooper customer?
We’ve worked to upgrade your mortgage experience in every way and offer a variety of digital tools to make you the smartest homeowner on the block.
- Award-winning website and mobile app: Sign in for mortgage documents, managing your escrow account, monitoring your home’s value, and FICO® Score monitoring (for primary borrowers), and more.
- Paperless statements: Opt in once you’ve created your online account to reduce waste and cut clutter.
- State of the art phone system: Just say things like, “make a payment” or “escrow deposit,” for automated support.
- Help Center: Get detailed answers to hundreds of common (and uncommon) questions.
- The Mr. Cooper Blog: Find tips on protecting your home’s value, tackling home improvements, getting a new mortgage, and more.
Learn more in our article, “Getting the Most Out of Your Mr. Cooper Home Loan.”
How do I contact Mr. Cooper?
- Online: Sign in to your online account once it’s set up to access exclusive chat and Message Center functions.
For written correspondence:
Attn: Customer Relations
PO Box 619098
Dallas, TX 75261
For payments only:
PO Box 650783
Dallas, TX 75265
- Visit our Contact Us page for more options.
Our Customer Service Team will be here whenever you need us. Take a look around at all we have offer and make yourself at home!
Tradenames and trademarks used in this blog post 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.
1. As of Mar. 31, 2023
2. According to Inside Mortgage Finance as of December 31, 2022
3. Rating as of May 19, 2023
4. As of May. 17, 2023
5. As of Dec. 9, 2022