Consumer complaint received 2020-07-23
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: Mr. Cooper Group Inc. (NJ)

We are reaching out because of the slow-moving review and response by Mr. Cooper for the property at XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX NJ XXXX of XXXX XXXX. We already submitted the updated HUD hitting the lender 's net on XX/XX/XXXX, however, they still did not render their decision/approval for the offer. Instead, they requested for more documents which ended up getting the BPO expired a month after XX/XX/XXXX. 

Below is the timeline of the updates for the file, thank you. 

XX/XX/XXXX - File is already active in XXXX. Lender is waiting for an offer. 
XX/XX/XXXX - Sent complete short sale documents to lender. 
XX/XX/XXXX - Lender is countering the buyer with {$100000.00}. This counter is based on the XXXX XXXX value. We have to complete the negotiation task and if the buyer agrees to increase ; they will need an updated HUD, a price addendum, and the buyers proof of funds. They must net at least {$90000.00} or more. 
XX/XX/XXXX - Sent the ff docs to lender : 1. Purchase Price Addendum {$100000.00} ( net is {$91000.00} ) 2. Preliminary Settlement Statement revised XXXX20 The nego requested to remove some of the fees from the HUD. 
XXXX - Buyer has agreed to pay for the unapproved fees XXXX - Sent updated HUD with the unapproved fees transferred to the buyer side to the lender. 
XXXX - Sent escalation to the short sale support. Short Sale support said that he saw that we uploaded the requested document on XX/XX/XXXX2020. He will let the negotiator know it is there and ready for review. 
Negotiator said that he should have the financial portion of the review complete by tomorrow to see if a contribution will be required from the seller/s. He will let us know by end of business tomorrow. 
XX/XX/XXXX - As per negotiator, they are requiring 2 consecutive bank statements from each account for review : 1. Account # XXXX end date XXXX.20 provided ( they need prior month complete statement ) 2.  Account # XXXX end date XXXX provided ( they need prior month complete statement ) 3. Account # XXXX end date XXXX provided ( they need prior month complete statement ) 4. Account # XXXX end date XXXX. ( they need prior month complete statement ) 5. Account- XXXX  combined accounts end date XXXX ( they need prior month complete statement ) 6. Account # XXXX end date ( they need prior complete month statement ) 7. Account # XXXX end date XXXX ( they need prior complete month statement ) Income Information : *From the provided income on the assistance form - please advise to which accounts the deposits are being made to for verification. 
XX/XX/XXXX - Sent the requested documents to negotiator. 
XX/XX/XXXX - Sent escalation and resent docs to short sale support. 
XX/XX/XXXX - XXXX requested for the ff docs : 1. XXXX XXXX  acct ending XXXX XXXX/XXXX/20 there was a transfer to XXXX XXXX XXXX for {$9600.00} please provide a letter of explanation for this. 
2. XXXX XXXX  acct ending XXXX dated XXXX XXXX XX/XX/XXXX need all 5 pages .. missing page 5 3. XXXX XXXX   acct ending XXXX dated XXXX XXXX XX/XX/XXXX missing page 2, need all pages 4. Hardship letter needs to be dated w/in the last 90 days XXXX. Mortgage Assistance Application must be dated w/in the last 90 days. On the Mortgage Assistance Application I need to know what the income is from and to who it is listed as {$1800.00}, {$2000.00}, {$3600.00}, {$2800.00} - but these do not match w/ the direct deposits nor with the proof provided. I will also need the statement for the assets listed as {$35000.00} CD and {$28000.00} stocks, bonds or CD ( non retirement ). 
6. XXXX 's income : State Street Dated XXXX.20 I need an update dated with in the last 90 days if this is an actual pay check stub and it must have the PERIOD BEGINNING AND PERIOD ENDING DATE.. it is blank on this form? 
Negotiator : Based on the financials provided, a seller cash contribution of {$80000.00} would be required. Based on all the accounts provided ( which some pages are missing, I will send a separate email for the missing pages ) They have a total of {$280000.00} in assets. This will be mandatory in order for an approval to be considered, reviewed and submitted. Technically they have enough money to pay the loan off or contribute the difference at closing. 
XX/XX/XXXX - Sent all requested documents and information to lender. 
XX/XX/XXXX XXXX said that the current BPO has expired, so a new one needs to be ordered. Provided him the LP 's name and number. 
XX/XX/XXXX XXXX said that they have placed the order for the BPO today.