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 the...

Additional expedited delivery fees of up to $25 may apply to each payoff quote sent via web. Feel free to contact us for clarification of applicable fees before requesting your quote.

Payoffs must be made via certified funds—wire transfer, money order, or cashier’s check. Please do not send personal checks, certified personal checks, or cash. Your payoff quote statement will include all of the information you need about our receiving bank for wires. Note: We sugge...

Payments are considered late, and late fees are assessed, at midnight when your grace period ends and are calculated as outlined in your Note. If you think you may not be able to make your payment on time, please contact us and let us know.

Manage all insurance & tax details for your mortgage.

If you had any expenses that we were required to pay on your behalf, like legal fees, repair costs, or property inspections, then you’ll see these on the second page of your statement.

If you had any expenses that we were required to pay on your behalf, like legal fees, repair costs, or property inspections, then you’ll see these on the second page of your statement.

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.

Payments are considered late, and late fees are assessed, at midnight when your grace period ends and are calculated as outlined in your Note. If you may not be able to make your payment on time, please contact us and let us know.

Learn how to recast your mortgage and lower your monthly payment by making a lump-sum payment toward the principal balance. Find out the eligibility requirements, fees, and process for recasting your loan with Mr. Cooper. Learn how to recast your mortgage and lower your monthly pay...