While there are a lot on the market, insurance companies must carry at least a B+ rating from A.M. Best to provide coverage on Mr. Cooper accounts. Please contact us if you have questions about whether your preferred insurance providers qualify.

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 can review your current insurance coverage information at the site we just mentioned: www.mycoverageinfo.com/mrcooper. Note: The following Mortgagee Clause must appear on your insurance policy. If it’s not there, contact your insurer and let them know.

Manage all insurance & tax details for your mortgage.

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

Learn how much insurance you need to cover your home and loan, and which types of insurance are required or optional for your property. Find out how to pay for insurance through your escrow account and what to do if you live in a high-risk area.

Property tax and insurance rates change, so sometimes we need to adjust your monthly escrow amount to ensure it can cover these payments. This is one of the most common reasons why a homeowner’s payment may change. Analysis

If you opened an escrow account as part of your loan agreement—or chose to open one to simplify your life—we will take care of your tax and insurance payments for you. View and manage your escrow account online by signing in to your account.

Find out how to endorse and send your insurance claim check to Mr. Cooper, and visit www.insuranceclaimcheck.com for more information. You can also call the Loss Draft Department at 866-825-9302 or review your insurance coverage at www.mycoverageinfo.com/mrcooper.

When a disaster strikes your home, your insurance company may issue an insurance claim check, which can also be called loss draft funds. A claim check is meant to cover various costs, including repairs.