Product: Mortgage

I am in process of trying to refinance my mortgage. My previous lender was XXXX  XXXX XXXX, with whom I had a good relationship and excellent service. I have been working with XXXX XXXX  at XXXX  XXXX XXXX XXXX to process the loan. 

I received a letter dated XX/XX/XXXX ( received a few days later ) indicating that " On XX/XX/XXXX, Nationstar Mortgage LLC d/b/a Mr. Cooper will become the servicer for this home loan ... ''. Meanwhile, I completed all of the necessary documents with my local bank, XXXX  XXXX XXXX XXXX, and the date, today, XX/XX/XXXX, was set for the closing date. I even paid the XXXX payment to XXXX  XXXX XXXX early on XX/XX/XXXX to make sure that there would not be a payment due in XXXX. 

I received the appropriate payoff statement dated XX/XX/XXXX from XXXX  XXXX XXXX that indicated that the payoff was good until XX/XX/XXXX. All of the other paperwork was completed and everything in place for the closing date of XX/XX/XXXX. On XX/XX/XXXX, the title company tried to get payoff information from Mr. Cooper ( Nationstar ) and was refused information. That evening I was not able to get any more information except that there was a new loan number. 

On XX/XX/XXXX, I called and talked with XXXX and with XXXX XXXX after the situation was escalated ), who were not able to provide me any information about payoff, even though I indicated that I had a closing scheduled for XXXX PM on XX/XX/XXXX. They indicated that I might be able to get help if I sent an email to XXXX. I immediately sent an email on XX/XX/XXXX. 

The following was the email : Dear Mr. Cooper Research, I have a new loan that was sold to your business, XXXX. I am in the middle of a refinance that was supposed to close at XXXX XXXX  tomorrow Utah time ( XX/XX/XXXX ). I have a payoff letter from XXXX  XXXX XXXX for the original loan, XXXX. However, the loan was transferred to Mr. Cooper yesterday ( XX/XX/XXXX ) and so I was informed that a new payoff letter is necessary for the closing. The property is XXXX. 

To try to receive the necessary letter I spoke to XXXX and then the issue was escalated to XXXX. They could not help me. It was indicated that if I emailed this address, then possibly the documents could be generated quickly enough for the closing. They would need to be emailed to me and to the loan officer at XXXX, who I have copied on this email, by tomorrow morning ( XX/XX/XXXX ) so the closing could go through. 

Please let me know if this is possible. My phone number is XXX-XXX-XXXX and my email address is XXX @ XXXX. As a first experience with Mr. Cooper, I would hope that you would be able to help me to quickly take care of this important matter. 

Your prompt assistance is greatly appreciated, XXXX XXXX -- -- -- -- -- -- -- -- -- -- -- -- I received the following reply from Research Incoming : Thank you for contacting Mr.Cooper. 

Please note that we are unable to locate an account under the property address and/or borrower information provided. 
If you have any questions, please contact us directly at XXXX, or call our Customer Service Department at XXXX. Theyre available Monday through Thursday XXXX XXXX  to XXXX XXXX  ( CT ), Friday XXXX XXXX  to XXXX XXXX  ( CT ) and Saturday XXXX XXXX  to XXXX XXXX  ( CT ). 
Let us know if theres anything else we can do for you. Were here to help. 
Sincerely, Mr. Cooper -- -- -- -- -- -- -- -- -- -- -- -- - I replied : Dear Research Incoming, This surprises me that you have no record of this loan. Here is the information for the loan and transfer information. If you can get the payoff information this morning, it will be greatly appreciated. You can give me a call at XXXX if you have further questions. 

Thank you, XXXX XXXX -- -- -- -- -- -- -- -- -- -- -- -- I received the following reply : Welcome to Mr. Cooper Mortgage! We look forward to servicing your loan! 
You will soon be receiving two letters that will contain contact, payment, and loan information. We will have all your information available in our systems shortly. We will also be calling you to introduce ourselves and to welcome you to Mr. Cooper Mortgage. At that time, we will be able to verify that all your loan information is correct and answer any questions that you may have. We apologize for any inconvenience this matter may have caused to you -- -- -- -- -- -- -- -- -- -- -- -- I replied : But I need the loan payoff information this morning! Can you send me that immediately?

-- -- -- -- -- -- -- -- -- -- -- -- I received this reply : Welcome to Mr. Cooper Mortgage! We look forward to servicing your loan!

You will soon be receiving two letters that will contain contact, payment, and loan information. We will have all your information available in our systems shortly. We will also be calling you to introduce ourselves and to welcome you to Mr. Cooper Mortgage. At that time, we will be able to verify that all your loan information is correct and answer any questions that you may have. We apologize for any inconvenience this matter may have caused to you. 

If you have any questions, please contact us directly at XXXX, or call our Customer Service Department at XXXX. They are available Monday through Thursday XXXX XXXX  to XXXX XXXX  ( CT ), Friday XXXX XXXX  to XXXX XXXX ( CT ) and Saturday XXXX XXXX  to XXXX XXXX  ( CT ). 

Let us know if there is anything else we can do for you. Were here to help. 

Sincerely, Mr. Cooper -- -- -- -- -- -- -- -- -- -- -- -- -- - I replied : I called your representatives yesterday and they escalated the matter and they said that this was a way to get this done - through this email. Will you be able to produce the document I need this morning? If not, I will lose the closing today. If calling will accelerate that, then I will do that. Please let me know. 

-- -- -- -- -- -- -- -- -- -- -- -- -- - I received the following reply : Thank you for contacting Mr. Cooper. 

Welcome to Mr. Cooper Mortgage! We look forward to servicing your loan! 
You will soon be receiving two letters that will contain contact, payment, and loan information. We will have all your information available in our systems shortly. We will also be calling you to introduce ourselves and to welcome you to Mr. Cooper Mortgage. At that time, we will be able to verify that all your loan information is correct and answer any questions that you may have. We apologize for any inconvenience this matter may have caused to you. 

For, further assistance we ask you to please contact our Customer Service Department toll free at XXXX and representative will be happy to assist you. Our hours of operation are Monday to Thursday : XXXX XXXX CT, Friday : XXXX XXXX CT and Saturday : XXXX XXXX CT. 

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- At this point I talked to my contact at my bank handling the refinance - the closing is cancelled. Since we have not received the necessary information from Mr. Cooper, who holds the loan, and there is no way to contact anyone who can help, we are stuck and another date can not even be selected. 

It is obvious that Mr. Cooper had information about the loan but could not give me any of the necessary payoff information to allow us to proceed with the refinance. There may be understanding of some reasonable delay, but to not be able to get customer service to address this issue leaves the consumer with little recourse. This practice leaves a consumer in the lurch, losing valuable time and money due to delay and inconvenience.

Since the consumer has no power to stop one servicer from transferring a loan, at least the payoff information should be provided so that way a consumer in the midst of a financial transaction such as a refinance can proceed without unnecessary hassle and uncertainty. XXXX  XXXX XXXX provided the payoff letter. The switch to Mr. Cooper and their poor ability to service the necessary request has caused this unfortunate situation without a clear resolution or path to easily proceed with the refinance.