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

What kind of assistance options are available if I cannot pay my mortgage? Your options may include refinancing, repayment plans, and loan modification. How can I get assistance if I cannot pay my mortgage? You can complete a mortgage assistance application online and let us kn...

Note: The following Mortgagee Clause must appear on your insurance policy. If it’s not there, contact your insurer and let them know.

What is an escrow account? An escrow account is where funds are held to pay property tax and insurance bills on your behalf. If your loan is escrowed, a part of your mortgage payment goes into your escrow account every month. Why did my monthly payment change?

Mortgage insurance protects the investor or noteholder if the borrower defaults on the loan. It lowers the investor’s risk when funding a home loan. In most cases, if you pay at least 20% down on your home, you’re not required to carry mortgage insurance.

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:

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

Note: You’ll need to notify your insurance company about the transfer and update the Mortgagee Clause on your policy— here’s how. Want to jump straight to your specific information? Visit our Welcome page. If the transfer is complete, you can create your new online account from the...

We have several options to submit your documentation: Online: Sign in to your online account. However you send your documents, please be sure to include a note including your name, loan number, property address, and contact information.

What is SOFR, and how does it relate to my ARM loan? The interest rate of your adjustable-rate mortgage (ARM) is currently calculated based on the published Secured Overnight Financing Rate (SOFR) index. Until 6/30/2023, it was based on the London Interbank Offered Rate (LIBOR) ind...