An appraisal is a written report by a qualified professional (appraiser) estimating the value of a property. During the appraisal process, appraisers generally evaluate the condition of a house’s interior, roof, siding, and foundation.

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.

Mr. Cooper adheres to all guidance by FHA & VA when transferring case numbers and/or appraisals. Here’s how to request the transfer of an FHA or VA case number from Mr. Cooper: Download and complete the Case Transfer Request Form. Obtain a signed letter from the borrower requesting...

You can quickly apply for mortgage assistance online. If you’d prefer to mail or fax your application—or if you don’t have an online account—you can download it here. Note: If you're currently engaged in an active bankruptcy, please consult with your attorney before submitting a mo...

We’ll send you an Escrow Review Statement that explains the results of the escrow analysis. Your statement will inform you whether your monthly payment is going up or going down in the year ahead, based on this year’s tax and insurance payments.

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) index.

Here are some of the most common closing costs: The money you put in an escrow account each month is used to pay property taxes and insurance related to your property. Some lenders may require you to escrow depending on the circumstances of your mortgage. If you have an escrow accoun...

What Is a Pre-Approval? It’s a letter from a lender that indicates the type and amount of loan you may qualify for. It gives you a solid idea of how much you qualify for to help you target a specific price range when home shopping. Mr. Cooper offers a simple, fast, and free Pre-A...

Complete a mortgage assistance application online now and let us know what’s going on. 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 a...

Many factors affect home value, including the economy and neighborhood factors. Professional appraisals can help you estimate the value of your home, and mortgage lenders often require you to hire an appraiser when you apply for a mortgage. We found 50 results for your search.