Consumer complaint received 2021-03-24
Company: Mr. Cooper Group Inc.
State: SC
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
On XX/XX/XXXX, we contacted a company called Mr. Cooper about refinancing one of our high interest loans with them after receiving a mail inquiry invitation from them at the end of XXXX. We spoke with Mr. XXXX XXXX and went over our situation and credit scores to see if we qualified for their re-financing invitation. We provided full information on income, credit scores available through each credit bureau, reason for re-financing, all income and debt information and everything they requested to see if we would qualify to submit an application for re-financing and for them to pull the hard credit inquiry that would damage our credit report numbers. We were told and assured that there was absolutely no problem, we would definitely qualify with the credit scores and all other information was within the requirements for re-financing. Application was submitted based on these assurances, along with the documentation requested to support the information provided. We were told 3 or 4 weeks to send to underwriting and approval of loan re-financing. Ten days later we received an email identifying the loan processing officer name of XXXX XXXX who was assigned to our loan. We were assured by her that the loan process would take bout three weeks and that closing target was XX/XX/XXXX. Over the following couple of weeks we were asked to submit additional and duplicate documentation, which is usual for most underwriting scenarios so no concern. On XX/XX/XXXX, we received a call from XXXX stating the the finalization of the re-financing was on track and that there were " no problems and that the loan was still on track for closing on XX/XX/XXXX. '' Then there was a three week period on dead silence, ignoring multiple emails nd phone calls and complete lack of professionalism or customer care. In the meantime, my credit scores rebounded from the hard credit pull by Mr. Cooper and they steadily increased above submission numbers. We have three mortgages with Mr. Cooper and have paid all on time for the past four years since they took over or issued the loans. Why the scam of refinancing invitation and fraud from the promises and assurances that we were qualified, everything was fine and on track with the loan, and that they acknowledged our payment history as their customer rather than being honest and up front - not forcing us to suffer the negative impacts of their pulling a hard credit on our credit report. Their action cost serious delays, additional financing costs, and complete loss of faith and trust the professional ethics of the " Mr. Cooper '' brand and group. They should be held accountable and everyone should know and be aware of their actions so others will not make the same mistakes from their unconsionable actions. We will be moving our mortgages from them and not doing business with cons like this in the future and soon as the damage from their actions against us are repaired.

Company response to consumer: Closed with explanation