Consumer complaint received 2022-04-07 00:00:00
Product: Mortgage — FHA mortgage
Issue: Struggling to pay mortgage — 
Company: Mr. Cooper Group Inc.
State: IL

Complaint narrative:
Below is an email I sent to several Executives at Mr. Cooper Mortgage and XXXX XXXX to get them to move on finalizing my mortgage modification. I received a few calls from Mr. Cooper representatives yesterday after I sent this email, and was told today they are sending the modification documents. I thought you should know about this. I found information at the XXXX  website about Mr. Cooper 's bad business tactics. I guess they are still up to their old tricks even though they have been penalized. I've attached the email. It's a shame I had to send an email to more than XXXX people to get them to move. 

MY EMAIL : Due to COVID, I was offered a mortgage modification by Mr. Cooper Mortgage. I accepted the modification even though I felt Mr. Cooper should have lowered the interest rate considering the mortgage interest rates were at approximately 2.85 % when I applied and when it was approved. The rate was left at 4.25 %. I felt Mr. Cooper could have done more to help even though I accepted the terms because I need my home and was stressed out during the pandemic! Instead, in my opinion, Mr. Cooper looked at the pandemic as an opportunity to take advantage of vulnerable customers. I accepted the terms and abided by the terms by making the XXXX required payments starting XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX prior to the XXXX of each month. After finalizing the terms of the modification agreement required by me, I expected Mr. Cooper to finalize their terms of the agreement, but instead I received a letter noting they sold the mortgage to XXXX XXXX and XXXX would finalize the terms of the modification, WHICH HAS NOT BEEN DONE TO DATE. This feels like a breach of contract to me. Everything about this move by MR. COOPER seems unethical and strategic. 

I initially called XXXX XXXX week after receiving the letter from Mr. Cooper saying the mortgage had been sold and XXXX would honor all terms of the loan and mortgage modification. I was told to call back in a few weeks because the information of the loan had not been entered and could not make a payment. I called back and was told by XXXX there is nothing on file about a modification for my loan and suggested starting a new modification with XXXX. This is not the solution to this messy transition. Now Im worried. My best guess is that XXXX is so backlogged that pertinent information about this transfer was not entered due to hastily entering the information. 

I can not tell you how many times Ive called XXXX XXXX for the final modification paperwork. No one seems to know what procedures are in place at XXXXXXXX XXXX to finalize this modification. I dont understand why XXXX XXXX buy this mortgage in the midst of a modification. I dont understand why Mr. Cooper did not finalize the modification prior to selling it to XXXX XXXX Again, this feels unethical and strategic! I phoned Mr. Cooper last week and was told there is nothing they can do. I was advised by Mr. Cooper to call XXXX and ask to have my account researched. I dont understand why no one at either mortgage company knows what needs to be done to finalize this modification. 

XXXX being told by XXXX that I need to start a new modification with them even though Ive done this already with Mr. Cooper. The fact that XXXX accepted this loan modification before Mr. Cooper finalized it, is astonishing! Since I can not find anyone who knows how to deal with this strategic and unethical situation. Does XXXX even know there was a loan modification approved by Mr. Cooper? I cant tell. I keep getting mortgage statement about how many thousands of dollars I owe XXXX but nothing about finalizing this modification. Something was lost in transition. 

This is quite unfortunate and the worst business practice Ive seen in my life time. To avoid further delay, can someone please contact me ASAP to let me know what is being done to finalize this modification. This is truly stressful and everyone at XXXX and Mr. Cooper passing the buck is not helping at all. This is a horrible situation to be in and Im sure you could not imagine your home being LOST IN TRANSITION. This is my livelihood at stake, and I would appreciate some REAL attention to this matter. 

I really did not want to contact executives to deal with something you have people employed to address, but they are not addressing this issue ( everyone seems dazed and confused ), and Im not left with any other options. I feel like this can be rectified without getting an attorney involved. Please help me get on track with paying my mortgage. 

Thanks in advance for your speedy reply.

Company response to consumer: Closed with explanation