Paying Off Your Mortgage with Mr. Cooper. Payoffs must be made via certified funds—wire transfer, money order, or cashier’s check. Please do not send personal checks, certified personal checks, or cash.

You can request a payoff quote through your online account. Depending on your loan, you may be eligible for an instant payoff quote. Otherwise, we will send your payoff quote by the delivery method you select within the timeframe provided.

How to make Payments, Request a Payoff, Setup Automatic Payments, Payment Methods, Payoff Quote.

Recasting a mortgage happens when you put down a lump-sum payment toward the principal balance and the lender re-amortizes the loan. Since you are paying down your principal by a large amount, your monthly payment will be lowered, but your interest rate and loan terms will remain...

Breakdown. Here are the key elements included in your monthly statement, along with a visual guide to help you locate them: 1. Statement Information. This is your basic information, like the date your statement was generated, loan number, amount due, and payment due date. 2. Explanat...

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 wha...

Grace Period. Your grace period is a set number of days after your contractual due date when we’ll still accept your payment without charging a late fee. The number of days is outlined in your Note. Check your statement for the exact date when penalties and interest are added.

Recasting Fees – There is usually a non-refundable fee of up to $250 to recast your mortgage. Requirements and Details of a Recast. If you are eligible, here are some details to keep in mind: Minimum Amount – Mr. Co...

What is an escrow account? An escrow account is where funds are held to pay property tax and insurance bills on your behalf. If your loan is escrowed, a part of your mortgage payment goes into your escrow account every month. When will you analyze my escrow account?

Should I pay extra toward my principal? Describes amortization schedule, where to view yours, and how to calculate changes.