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Help CenterNew CustomerTransferred Flagstar Customers: Welcome to Mr. Cooper!
New Customer

Transferred Flagstar Customers: Welcome to Mr. Cooper!

If you’re one of the many customers being transferred from Flagstar: We’re so glad to have you in the Mr. Cooper family. As the largest servicer in America, we’re committed to giving you a first-class experience—starting with your transfer. Our goal is to make this transition as easy and stress-free as possible.
Right off the bat, let’s cover a few things you may be wondering about:

  • There will be no late payment fees for 60 days from your transfer date.
  • The next payment will be due to Mr. Cooper at the address provided in your Welcome Packet.
    (If you already paid Flagstar, don’t worry, it will automatically transfer to us.)
  • If you were set up for monthly automatic payments, those payments will continue with us, and no further action is required from you.
    (Note that there could be a slight delay in the first draft while we set everything up, but there won’t be any late payment fees for 60 days.)
  • If you’re escrowed, your escrow balance will automatically transfer to us, and we’ll begin making tax and insurance payments for you.
    Note: You’ll need to notify your insurance company about the transfer and update the Mortgagee Clause on your policy—here’s how.

Want to jump straight to your specific information? Visit our Welcome page.

  • If the transfer is complete, you can create your new online account from there.
  • If it’s still in process, we’ll show you the date when you’ll have full account access.

Not a Flagstar customer? Our Welcome page also has your transfer information.

Your Next Steps

There are only a few steps you’ll need to take—we’ve got the rest covered:

  1. If the account is escrowed to pay your taxes and/or insurance, notify your homeowners insurance company that they’ll receive payments from us and have them update the Mortgagee Clause to the following:

    Nationstar Mortgage LLC
    Its Successors and/or Assigns
    PO Box 7729
    Springfield, OH 45501

  2. If you make payments using your bank’s “Online Bill Pay,” update the payee information to the following:

    Mr. Cooper
    PO Box 650783
    Dallas, TX 75265

  3. Create your online account to easily manage your account at any time.

    • You can register to get access to your online account within 7 days of your official transfer date.
    • Once you’ve created an account, you can download our secure mobile app. With our app in your pocket, stress-free homeownership is at your fingertips.

Your Transfer Details: Flagstar Customers

  • If you were set up for monthly automatic payments, those payments will continue with us, and no further action is required.

Note: There may be a delay in the first draft by up to 10 days but there won’t be any late fee or negative credit impact. After that, payments will be drafted on the regular date.

  • You will have a new loan number, which is included in your welcome letter.

Note: Lost your letter? No problem! You can use your old loan number to access your specific transfer information on our Welcome page.

General Transfer Information

These are some of the most important things to know about account transfers:

Credit

  • There are no late fees or negative reporting to the credit bureaus during the first 60 days after your transfer.
    (Your prior servicer is required to forward us any payments you make to them for 60 days after your transfer date.)

Escrow

  • If you had an escrow account with your prior servicer, we’ll continue to make your tax and insurance payments promptly. Additionally, if there will be any changes to your escrow payment due to a recent escrow analysis, we’ll notify you.

  • We also provide escrow support to answer any questions you may have.

Monthly Statements

  • You’ll receive your first monthly statement within 30 days of your transfer date.
  • Want access sooner? Sign in to your online account to view your statement as soon as it’s available.

Paperless Delivery

  • If you are enrolled in paperless delivery for one or more Flagstar Bank statements or documents, you will be enrolled in paperless delivery for all statements and documents with Mr. Cooper.
  • You will be able to change your paperless election in your new Mr. Cooper online account within 10 days.

Fees

  • There could be some changes in your fees. For more details, review our complete list of fees.

Loan Terms

  • The terms of the loan remain exactly the same.
  • This means your interest rate, monthly principal and interest payment, and repayment timeframe are all identical to what they were with your prior servicer.

Other Scenarios

  • If you had a workout or modification plan with your prior servicer, we’ll continue it. Just allow us up to 30 days from your transfer date to get all of the account information.
  • If you were in the middle of selling or refinancing your home when the transfer occurred, you can request a payoff quote once your information is in our system.

Payments

  • Your prior servicer is required to forward us any payments you make to them for 60 days after your transfer date.

Note: Once 60 days have passed from your transfer date, please be sure the payments are sent directly to us at the new address provided in your Welcome Packet.

The Mr. Cooper Difference

We’re not your average mortgage company, so we don’t provide average service.
Here are few things you can look forward to with us:

Helpful Resources

Payments & PayoffsStatements & 1098/1099Escrow, Taxes & InsuranceMortgage Assistance