In March 2025, top mortgage lender mortgage preapproval but gives borrowers a greater degree of certainty that they qualify for the amount on their preapproval letter.
With a Verified Approval, you'll provide the necessary documentation, such as paystubs or tax returns, and an underwriter will look over your application to ensure you're getting an accurate estimate of what you can be approved for.
Cons
- Limited mortgage options
- Ranks low in J.D. Power's 2024 U.S. Mortgage Origination Satisfaction Study
- You'll need to talk to a loan officer to get personalized rates
- High average fees
Mortgage Offerings Are Relatively Basic
Mr. Cooper doesn't have a wide variety of loan options, so if you're looking for a less common mortgage type, you won't find it here. It also doesn't provide a lot of information about its loans or rates online, so you'll need to talk to a loan officer if you have questions or want to see rate quotes.
Get Mortgage Rates
620
3%
Conforming, FHA, VA, jumbo, home equity loan
- Has an underwritten preapproval option
- Low average rates
- Only offers a handful of mortgage types
- Ranks low in customer satisfaction, according to J.D. Power
- Can’t see personalized rates online
- High average fees
Mr. Cooper may be a good choice for borrowers looking for a smooth refinance process or low mortgage rates, but its loan options are limited and you can't explore personalized rates online.
Mr. Cooper Mortgage- Lends in all 50 states
- Minimum credit score and down payment displayed are for conforming mortgages
Mr. Cooper Overview
Nationwide Lending and Servicing
Mr. Cooper is an online mortgage lender that lends in all 50 U.S. states and Washington, DC. To get a mortgage with Mr. Cooper, you'll need to either start an application online or talk to a loan officer over the phone.
It also services many loans, so even if you don't initially get your mortgage through Mr. Cooper, it's possible you could end up having your servicing transferred to this company. This means you'd make your monthly renovation loans, reverse mortgages, and physician loans. It also has physical branches throughout the country, so you might like this lender if you want an in-person or completely remote process.
However, Fairway's average rates are a bit high.
J.D. Power's 2024 Primary Mortgage Origination Satisfaction Study, which measures customer satisfaction. However, on its Trustpilot page, it has 4.2 out of 5 stars, based on over 7,000 customer ratings.
Trustworthiness: 4.5 out of 5
Mr. Cooper has an A+ rating from the BBB. The BBB evaluates companies by looking at responses to customer complaints, honesty in advertising, and transparency about business practices
Mr. Cooper experienced a cyber security attack in 2023 that compromised customers' personal data. In response, the lender has offered current and former customers two years of free credit monitoring and identity protection services.
Mr. Cooper FAQs
Is Mr. Cooper a legit company?
Yes, Mr. Cooper is a legitimate mortgage lender that lends in all 50 states.
Is Nationstar Mr. Cooper?
Yes, Mr. Cooper used to be known as Nationstar. The company rebranded to Mr. Cooper in 2017.
Does Mr. Cooper offer HELOCs?
No, Mr. Cooper doesn't currently offer HELOCs. It does offer home equity loans.
How are Mr. Cooper's mortgage rates?
Mr. Cooper has lower-than-average mortgage rates, according to the latest federal data. To get a customized rate, you'll need to talk to a loan officer.
What credit score does Mr. Cooper require?
You'll need at least a 620 credit score to get a conforming mortgage with Mr. Cooper.
Is Mr. Cooper good for both lending and servicing?
Mr. Cooper has many positive customer reviews, and many borrowers have good experiences with this company as both a lender and servicer. But we have seen a few complaints about its servicing. Unfortunately, there's not much a borrower can do if they don't like their mortgage servicer.
