Mr. Cooper Mortgage Payment Options

Mr. Cooper mortgage payment options
Mr. Cooper Mortgage Payment Options Update - 2020.11.24

Mr. Cooper, the Dallas, Texas-based home loan services company that is part of Mr. Cooper Group, severs 3.8 million homeowners across the country. The company’s goal is to offer the ultimate home ownership experience to its national customer base. If you happen to be one of those homeowners, this article will explain mortgage payments.

Before exploring the ways to pay your Mr. Cooper Mortgage bill, determine monthly payments on your Mr. Cooper Home Mortgage Loan. Feel free to use our handy online calculators:

How to Make Mr. Cooper Mortgage Payment Online

Mr. Cooper Mortgage Payment Online

step 1: go to mrcooper.com/accounts/new

Set Up Your Mr. Cooper Mortgage Account Online

In order to start making online payments, you first need to set up an online account.

Go to the Online Account Setup page and enter:

  • Your loan number
  • Your SSN / tax identification number / employer identification number
  • Your zip code.

After doing the aforementioned, you’ll want to click on the reCAPTCHA area and then click on FIND LOAN to create and activate your account.

Sign In to Your Account to Make Mr. Cooper Mortgage Payment

mrcooper.com login

mrcooper.com login

Once you’ve signed in, you can select one of two options – AutoPay Method or One Time Payment Method. You’ll want to select the one that is most convenient for you.

Option #1: AutoPay Setup

When you sign up for AutoPay, you will basically put your monthly payment on autopilot since the payments will occur each month – on the same day – from the account you choose. Signing up for AutoPay is free and simple, and you can cancel it whenever you want. 

Here’s how to do it:

Step #1: Choose Set Up AutoPay. It’s located near the Payment Due tally.

Step #2: Select your payment date. If the date you choose is a short time away from your next payment date, you may need to make an extra one-time payment. This stipulation will be made abundantly clear to you if it’s applicable.

Step #3: Choose, if you wish to, the length of time you want AutoPay to be in effect. If you skip this step, then AutoPay will remain activated indefinitely until you decide to stop it.

Step #4: You can modify the amount you pay each month, should you wish to do so. Go to Pay to Principal and, in the appropriate area, key in the extra amount you want to pay. If you don’t want to change your payment tally, look under the How would you like to pay area and choose the account you wish to use.

Step #5: Review your entries to ensure everything is as it should be.

Step #6: Look through the Terms and Conditions section, click the I have read the terms and conditions box, and submit.

Option #2: One Time Payment

If you want to make a one-time payment, the following instructions will show you how:

Step #1: Choose Make a Payment.

Step #2: Select the date you wish to make the payment by choosing the Select When You’d Like to Pay box. A calendar will pop up, and you will be able to choose the date of your choice.

Step #3: If you want to change your payment total and tack on further principal payment, choose Pay to Principal and key in the extra amount you want to include. You can, if you wish, bypass this step.

Step #4: Choose your payment method via the How Would You Like to Pay link. You can, if you wish, add an account by choosing the account type, adding your routing number, and adding your account number.

Step #5: Check the information to ensure that the date, payment amount, and account information is correct.

Step #6: Click the Submit button.

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Other Options for Paying Mr. Cooper Mortgage Bill

Pay by Mail

You can send a check or money order, made out to “Mr. Cooper”, to the following address:

Mr. Cooper
PO Box 650783
Dallas, TX 75265-0783

Once your payment is delivered, it could take a few days for it to be processed. But the date it is received is regarded as the official payment date, so you won’t have to worry.

Overnight Payment Address
Mr. Cooper
Lake Vista 4
800 State Highway 121 Bypass
Lewisville, TX 75067

Payment by Phone

Dial 888-480-2432 and then follow the instructions given to make a payment via phone. Make sure you have your account number handy, and you’ll also need to supply the final four digits of your SSN. A fee of as much as $14 may be applicable.

If you prefer, you can make a payment over the phone by speaking to an actual person. Dial 888-480-2432 to access this option. A fee of as much as $19 may be applicable.

Western Union® Quick Collect®

When you use Western Union, you can rest assured that your payment will be sent and received on a same-day basis. Visit the company’s website or dial 800-325-6000 to find the closest-to-you location.

You’ll next need to fill in a blue QuickCollect® form. Your name as well as loan number must be on the form. Also, be sure to include the following:

Pay to: Mr. Cooper
Code: MRCOOPER
State: TX

QuickCollect® transactions must be paid in cash. A Western Union® fee also applies.

MoneyGram Express Payment

If you want to initiate a same-day payment, you can do so via MoneyGram. Go to the company’s website or dial 800-926-9400 to find the closest-to-you location. When you go to the office, get an ExpressPayment form, and fill it out. Enter “1678” in the section requesting your MoneyGram Receive Code. You’ll need to pay via cash, and there will be a fee.

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Mr. Cooper Mortgage Customer Service

Customer Service: 888-480-2432

(Calls are received from Monday till Thursday from 7 a.m. to 8 p.m. (CT), on Friday from 7 a.m. to 6 p.m. (CT), and on Saturday from 8 a.m. to 2 p.m. (CT).)

Contact Us Link: mrcoopergroup.com

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Facebook: facebook.com/mrcooperhomeloans

Twitter: twitter.com/mrcooper

Youtube: youtube.com/mrcooper

LinkedIn: linkedin.com/company/mrcooper/

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Mr. Cooper Mortgage Payment FAQ

What should I do if I’m late with a monthly payment?

If circumstances are such that you anticipate missing a payment, you should call the bank ASAP at 888-480-2432 and inform them of your situation. The bank will be able to make alternative arrangements to accommodate your situation.

Will my AutoPay total remain the same?

For the most part, yes. But remember that a rate change, a loan modification, or an escrow shortage can essentially change the amount you need to pay monthly.

What do I do if I have multiple loans?

When you log in to access your account, the dashboard will make it easy for you to go from account to account. So it will be easy to make payments to your accounts.

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What to Do if I Made a Late Mr. Cooper Mortgage Payment

It’s a good idea to avoid a late mortgage payment at all costs, but mistakes sometimes happen. While you don’t want to be too hard on yourself if this happens, you need to consider possible consequences. Case in point: you could see your credit score take a hit if you don’t make payments on schedule. Also keep in mind that a late Mr. Cooper mortgage payment may remain on your credit report for as many as seven years, which would adversely impact your credit score. What follows is a look at 3 proven strategies you can use to have late mortgage payment information scrubbed from your credit report.

Option #1: Contact Mr. Cooper and Make Request

Reach out to your lender by phone right away, and acknowledge that your payment was submitted past the deadline. It’s important to admit you were in error. Let them know when they can expect payment. They may be willing to delete your late payment data so that your creditworthiness doesn’t suffer.

Option #2: Write Them a Letter

The next option at your disposal is to write a letter, known as a goodwill letter, to Mr. Cooper. In the letter, you’ll want to specifically and respectfully request a removal. Do these 2 things in the letter:

  1. Demonstrate that you accept that the situation was caused by you
  2. Guarantee that there will be no repeat of the delinquent behavior going forward.

What follows is a sample letter template you can use as inspiration:

Late Payment Mr. Cooper Mortgage

Option 3: Make Them an Offer

Another option is to contact Mr. Cooper and make them an offer they can’t refuse. Lenders prefer to have people opt for automatic payments – so that payments are made on time, all the time. If you’re willing to sign up, the lender might be persuaded to scrub the late payment from your credit report as a goodwill gesture. The lender may, if you do not wish to sign on for automatic payments, recommend another way for you to potentially get your late payment erased from your credit report.

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How to Avoid Late Payments on Your Mr. Cooper Mortgage Loan

When you do get approved for a Mr. Cooper mortgage loan, you’ll want to avoid any late payments. Here are a few tips that will help you steer clear of making untimely payments.

Tip 1: Sign Up for Mr. Cooper Auto-Pay

Your first order of business is to set up an automatic payment option, and you can do this either through your bank or through your lender. You’ll want to go with the most ideal option for you.

Auto-Pay – the Pros

  1. You can avoid late payments and any resulting late fees. This will, in turn, ensure a healthy credit score.
  2. You can do your part to protect the environment with paperless billing.
  3. You won’t have to deal with any expenses relating to postage as you won’t need an envelope or a stamp, and you won’t have to fill out a check since auto-pay is done via electronic funds transfer.
  4. You will save time since auto-pay is convenient. No more will you have to take the time to sit down, write up a check, write your address and the address of the mortgage lender on the envelope, put on a stamp, and put the envelope in the mail. With auto-pay, you can automate the entire process of paying bills.

Auto-Pay – the Negatives

  1. You could, if you’re not monitoring the inflows and outflows of money in your bank account, overdraw your account. In order to avoid any problems, just keep track of how much you have in your account at all times.
  2. You could potentially overlook things like errors, interest rate hikes, or other hidden fees. This can be avoided by simply making it a habit to go over your bill.
  3. You could fail to stay on top of things such as the amount owing or the amount you’re paying monthly. As has been mentioned, you can steer clear of such problems by checking into your account regularly. This will help you to know when it might be a good idea to made additional payments to reduce the principal quicker.

Tip 2: Sign Up for Alerts and Reminders

Receiving a notification for an upcoming bill payment can make all the difference. You can get this by using an app, by getting your mortgage company to send an alert or reminder by email, or even by using Google calendar. You’ll be able to avoid late payments by doing so.

Tip 3: Set Up a Bill Pay Day

Another option is to purposefully schedule a period of the month when you can commit to making bill payments. When you go this route and have a system in place, you will avoid Mr. Cooper late payments.

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