While there are a lot on the market, insurance companies must carry at least a B+ rating from A.M. Best to provide coverage on Mr. Cooper accounts. Please contact us if you have questions about whether your preferred insurance providers qualify.

Depending on the type of insurance, you will need enough to cover the lower of either the replacement cost of the property or the remaining principal balance on your loan.

Learn how much insurance you need to cover your home and loan, and which types of insurance are required or optional for your property. Find out how to pay for insurance through your escrow account and what to do if you live in a high-risk area.

When a disaster strikes your home, your insurance company may issue an insurance claim check, which can also be called loss draft funds. A claim check is meant to cover various costs, including repairs.

In most cases, if you pay at least 20% down on your home, you’re not required to carry mortgage insurance. If you are required to carry mortgage insurance, removal of the insurance may occur when the equity in your home reaches a certain percentage.

If there are any changes to your insurance policy or carrier, please let us know as soon as possible by sending us the Declarations Page. Visit www.mycoverageinfo.com/mrcooper and follow the simple instructions to upload your Declarations Page.

However you send your documents, please be sure to include a note including your name, loan number, property address, and contact information. Finally, if you have been making payments and have been led to believe they are going towards a trial or modification agreement, but we have ...

Learn how to update your mortgagee clause if your loan was transferred to Mr. Cooper and what to do with optional insurance products. Find answers to common questions about mortgagee clause, a term that refers to the lender's interest in your property.

You’ll need to notify your insurance company that your loan was transferred to us and that they’ll receive payments from us now. Give them your new loan number and have them update the mortgagee clause on your account to:

Learn how much insurance you need to cover your home and loan, and which types of insurance are required or optional for your property. Find out how to pay for insurance through your escrow account and what to do if you live in a high-risk area.