Consumer complaint received 2024-02-18
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Loan sold or transferred to another company
Company: Mr. Cooper Group Inc. (WA)

This loan has been opened for less than XXXX years ( XXXX months ). During that time, the loan ( or at least its servicing ) has been sold/transferred XXXX times : XXXX  from the original underwriter to Nationstar Mortgage , which opted to service this loan under their trade name " Mr . Cooper. '' In less than a year, the mortgage servicing details have changed XXXX  more, but XXXX XXXX, the loan has remained with Nationstar, just transferring the servicing between its subsidiaries : - On XX/XX/XXXX, I was notified that the loan was transferred from Nationstair 's Mr. Cooper brand to their RightPath Servicing brand. 
- On XX/XX/XXXX, I was notified that the loan was transferred from Nationstair 's RightPath Servicing brand to their Rushmore Servicing brand.

I have at least XXXX concerns about this : - While this first concern is outside of actionable scope, the RightPath Servicing brand seems to be positioned to help consumers whose finances are distressed or in trouble. Specifically, from the XX/XX/XXXX letter, Nationstar writes that RightPath " specialize in exactly the kind of mortgage-related help and support we believe you need at this stage of your homeownership journey. '' The " welcome letter '' mailing from RightPath explicitly states that " RightPath specializes in helping homeowners who are facing financial hardship avoid foreclosure and get their mortgage back on track. '' However, I have never paid this loan late or other than agreed per the terms of the original loan, either before the original transfer to NationStar/Mr. Cooper or during the period of servicing handled by subsidiary RightPath. Additionally, I have no other negative or derogatory marks on my credit report ; no items have been paid late. 
- This second concern is the primary focus of my complaint. Each change of ownership requires me as the consumer to update payment details and confirm that my payment would continue to post to the correct account with the correct servicer, a process with a not insignificant paperwork burden. Had I missed this communication, it's possible that I might have later received a late payment charge or a derogatory mark for not paying on time ( despite paying what I thought was the still the correct servicer ). While there may be provisions to prevent this from happening in the short-term, if I had not noticed the servicing change, I might have continued to make the wrong payment after those provisions were no longer applicable. Additionally, I must set up a servicing account at Rushmore, and decreases my online privacy, as it's yet another account that may be leaked via a data breach ( and RightPath experienced a data breach as recently as last fall ).

While Nationstar may be within their legal rights to update their servicing details, and to do so as often as they like, their continued changes - XXXX in less than XXXX XXXX, and XXXX in less than XXXX XXXX - put an undue burden on me as a consumer of their financial products. It makes me less interested in being their customer, but of course, the only choice I have in the matter is refinancing the loan- potentially at a much higher interest rate - or paying it off, and if I refinanced, there is no guarantee that the mortgage would not be sold/transferred back into the Nationstar servicing portfolio under the new mortgage holder. 

I have included as attachments the XXXX documents referenced above, and detailed here : - XX/XX/XXXX notice of servicing transfer from Mr. Cooper to RightPath ( all envelope contents ) - XX/XX/XXXX " welcome letter '' from RightPath ( all envelope contents ) - XX/XX/XXXX notice of servicing transfer from RightPath to Rushmore