Each loan option is made up of 3 elements: 1. Loan Term. This represents how long you have to repay your loan. The most common loan terms are 30 years and 15 years, but there may be other durations depending on your loan type and other factors.

We’ll help you determine a plan of action and next steps based upon your circumstances. You can also contact us if you have questions or need to speak with an agent. What mortgage assistance is available?

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 know what’s going on.

Learn how to pay off your mortgage with Mr. Cooper via wire transfer or certified funds. Find the account number, routi... All you need to do is choose a payment frequency—Monthly or Biweekly—and complete the online form; we’ll automatically deduct the payments going forward.

If you’re facing a long-term hardship, we can review you for a loan modification to determine if more manageable terms are available. While refinancing means replacing your existing loan with a new one, loan modification keeps your existing loan and changes its terms.

Your account was transferred because your previous servicer sold your loan to us, your new servicer. It is very common for mortgage loans to be sold between servicers. Hundreds of thousands of loans change hands in this way every year.

In the days leading up to closing day, your lender will send you a Closing Disclosure, which outlines what you need to pay at closing and summarizes your loan details. You’ll also need to share various mortgage documents required by your lender.

Recasting a mortgage happens when you put down a lump-sum payment toward the principal balance and the lender re-amortizes the loan. Since you are paying down your principal by a large amount, your monthly payment will be lowered, but your interest rate and loan terms will remain t...

If you qualify for a loan modification, some potential ways to reduce your monthly payment would be through lowering your interest rate or extending the term of the loan. Specific eligibility requirements may vary depending on the loan’s investor or other factors.

Transfer customers: You can use your new Mr. Cooper loan number or the loan number you had with your previous servicer. How can I make my payments to Mr. Cooper? Whether you prefer to make payments by mail, phone, online, or automatically recurring, we’ve got you covered with multi...