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.

https://www.mrcooper.com/help-center/escrow/mortgage-insurance-pmi-mip How do I get rid of PMI ? The requirements to remove MIP are complex and depend upon multiple factors and scenarios which are too numerous to list here, but please contact us to review your o...

Flood insurance cannot be removed in certain cases when coverage is required. The escrow account must have a positive balance (no escrow advances that haven’t been repaid). If eligible, you can submit an escrow removal request from your online account.

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.

If you want to transfer ownership of your property into a Trust or to your spouse/children, you’ll need to notify Mr. Cooper and provide one or more of the following documents: Deed – This document is used to validate that you are an owner of the property.

Repayment plans can be an ideal option for homeowners who face temporary hardships. Like all mortgage assistance options, the sooner you let us know about your need for help, the more likely a repayment plan will be available to you.

If you put down less than 20% on a conventional loan, you may need to carry private mortgage insurance, also known as PMI. What is mortgage insurance ( PMI / MIP) and how to request removal. The requirements to remove MIP are complex and ...

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 t...

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...

If your situation has changed and you no longer want to receive this monthly payment supplement, you can voluntarily terminate the program by filling out and returning this form. Note: Upon termination of the program, both the Partial Claim amount and any applied payment supplements ...