Consumer complaint received 2021-10-04
Company: Mr. Cooper Group Inc.
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
Loan No. XXXX Mr. Cooper XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX CA XXXX RE : Appeal of loan modification denial ( XX/XX/XXXX ) Loan No. XXXX To Whom It May Concern : On XX/XX/XXXX, Mr. Cooper sent a denial letter to my advocates office. I am appealing this denial for the reasons outlined below. 

The denial letter states that ... based on eligibility requirements of the owner/guarantor/trustee of my mortgage, I was declined for a Standard Modification. The letter further states that the reason for denial was that my loan had been... previously modified. 
Upon review of the Pooling and Servicing Agreement ( PSA ) it seems that there are no prohibitions in the PSA and thus by owner/guarantor/trustee that would stop Mr. Cooper from allowing a second loan modification in my circumstance. Section 3.07 of the XXXX XXXX XXXX XXXX As Trustee For XXXX Mortgage Loan Trust Inc., Mortgage Pass-Through Certificates Series 2005-8, Pooling And Servicing Agreement has been included below : SECTION 3.07 Collection of Certain Mortgage Loan Payments. 
The Master Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and the terms and provisions of any related Primary Mortgage Insurance Policy and any other applicable insurance policies, follow such collection procedures as it would follow with respect to mortgage loans comparable to the Mortgage Loans and held for its own account. Consistent with the foregoing and the servicing standards set forth in Section 3.01, the Master Servicer may in its discretion ( i ) waive any late payment charge or, if applicable, penalty interest, only upon determining that the coverage of such Mortgage Loan by the related Primary Mortgage Insurance Policy, if any, will not be affected, or ( ii ) extend the due dates for Monthly Payments due on a Mortgage Note for a period of not greater than 180 days ; provided that any extension pursuant to clause ( ii ) above shall not affect the amortization schedule of any Mortgage Loan for purposes of any computation hereunder, except as provided below. In the event of any such arrangement pursuant to clause ( ii ) above, the Master Servicer shall make timely advances on such Mortgage Loan during such extension pursuant to Section 4.03 and in accordance with the amortization schedule of such Mortgage Loan without modification thereof by reason of such arrangements. Notwithstanding the foregoing, in the event that any Mortgage Loan is in default or, in the judgment of the Master Servicer, such default is reasonably foreseeable, the Master Servicer, consistent with the standards set forth in Section 3.01, may waive, modify or vary any term of such Mortgage Loan ( including modifications that change the Mortgage Rate, forgive the payment of principal or interest or extend the final maturity date of such Mortgage Loan ), accept payment from the related Mortgagor of an amount less than the Stated Principal Balance in final satisfaction of such Mortgage Loan ( such payment, a Short Pay-off ) or consent to the postponement of strict compliance with any such term or otherwise grant indulgence to any Mortgagor, if in the Master Servicers determination such waiver, modification, postponement or indulgence is not materially adverse to the interests of the Certificateholders ( taking into account any estimated Realized Loss that might result absent such action ). ( emphasis added ) Since the eligibility requirements of the owner/guarantor/trustee are not the reason for the denial, I request that the modification application be re-reviewed for any and all programs offered by the owner/guarantor/trustee as was promised by Mr. Cooper when the process was started. 

Thank you for your continued cooperation on this matter. 

Sincerely, XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation