Mr. Cooper
A United States mortgage-servicing and residential home-loan financial-services company.
Last updated August 31, 2026
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- Nov 4, 2026
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- Nov 4, 2026
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Overview
Mr. Cooper is the consumer-facing mortgage brand associated with Mr. Cooper Group, a United States company specializing in residential mortgage servicing, home loans, refinancing, and related mortgage-finance services. The business is headquartered in the Dallas, Texas area and has operated primarily in the United States. Its modern corporate identity combines two major institutional histories: the Washington Mutual successor WMI Holdings Corporation and Nationstar Mortgage, a mortgage lender and servicer that grew out of Centex's home-equity business. The older corporate lineage began in Seattle in 1889, when the Washington National Building Loan and Investment Association was established after the Great Seattle Fire. It made an early home mortgage loan in 1890, later became Washington Savings and Loan Association, and adopted the Washington Mutual Savings Bank name in 1917. Washington Mutual experienced a severe deposit run in 2008. The Office of Thrift Supervision seized the bank on September 25, 2008, and the Federal Deposit Insurance Corporation sold most of its banking assets. Washington Mutual, Inc. subsequently entered Chapter 11 bankruptcy and eventually emerged as WMI Holdings Corporation. The Nationstar lineage began in 1994 as Nova Credit Corporation in Denver. After moving to Dallas in 1997, it became Centex Credit Corporation and served as the mortgage-finance arm of home builder Centex Homes. The business was merged into Centex Home Equity Company in 2001 and remained involved in subprime mortgage origination and servicing until Centex exited non-home-building activities. Fortress Investment Group acquired the mortgage business in 2006 and renamed it Nationstar Mortgage. Nationstar Mortgage Holdings completed an initial public offering on the New York Stock Exchange in March 2012. Nationstar introduced the Mr. Cooper service mark as a consumer-facing identity for its mortgage-lending and servicing activities. In August 2017, Nationstar Mortgages announced that it would adopt the Mr. Cooper name, describing the rebranding as an effort to make mortgage interactions more personal. In 2018, Nationstar and WMI Holdings merged. The transaction resulted in Nationstar's delisting and the renaming of WMI Holdings as Mr. Cooper Group. The company has been among the larger mortgage servicers in the United States. Reference material describes a 2023 servicing portfolio of approximately $937 billion and more than 4.3 million customers. In 2020, it originated more than 146,000 mortgages with an aggregate value exceeding $36 billion. Its business has also faced regulatory scrutiny over foreclosure processes, payment handling, and compliance with state banking requirements. In 2020, the company agreed to a $91 million settlement involving the Consumer Financial Protection Bureau, all 50 states, and three U.S. territories. In October 2023, a cyberattack compromised customer data. Rocket Companies announced an all-stock agreement to acquire Mr. Cooper for $9.4 billion in March 2025, with the transaction described in the reference material as closing in October 2025.
History
Mr. Cooper Group's history spans the development of Washington Mutual's predecessor institutions, the growth of Nationstar Mortgage, and the consolidation of the two lineages in 2018. The Washington Mutual lineage began on September 25, 1889, when the Washington National Building Loan and Investment Association was incorporated in Seattle following the Great Seattle Fire. The organization made what the reference material describes as its first West Coast home mortgage loan on February 10, 1890. It became Washington Savings and Loan Association in 1908 and Washington Mutual Savings Bank in 1917. Over subsequent decades, Washington Mutual expanded into a major banking organization. The institution suffered a major liquidity crisis in 2008. During a ten-day period in the middle of that year, customers withdrew approximately $16.7 billion in deposits. On September 25, the Office of Thrift Supervision seized Washington Mutual Bank and placed it into Federal Deposit Insurance Corporation receivership. The FDIC sold most of the bank's assets, including its branch network. Washington Mutual, Inc. and WMI Investment Corp. filed for Chapter 11 bankruptcy on September 26, 2008. After multiple reorganization plans, the surviving corporate entity emerged as WMI Holdings Corporation. The Nationstar lineage was established in 1994 as Nova Credit Corporation in Denver, Colorado. The company moved to Dallas in 1997, when Centex Homes established it as an in-house lender for new residential construction and renamed it Centex Credit Corporation. In 2001, Centex Credit was merged into Centex Home Equity Company. The business acted as a subprime mortgage originator and servicer for Centex until 2005, when Centex decided to withdraw from non-home-building operations. Fortress Investment Group acquired the mortgage business in 2006 and renamed it Nationstar Mortgage. Nationstar expanded as a mortgage lender and servicer and became a public company through an initial public offering on the New York Stock Exchange in March 2012. Its consumer-facing mortgage operation used the Mr. Cooper service mark. In August 2017, Nationstar Mortgages announced that it would change its name to Mr. Cooper, explaining that the new identity was intended to make the mortgage experience more personal. The rebranding gave the company a more approachable consumer identity while retaining its mortgage-servicing and lending activities. In 2018, Nationstar merged with WMI Holdings Corporation. The transaction combined Nationstar's mortgage platform with the corporate successor to Washington Mutual. Nationstar was delisted from the New York Stock Exchange, and WMI Holdings changed its name to Mr. Cooper Group. The resulting group continued to operate the Mr. Cooper consumer brand in residential mortgage servicing, home lending, refinancing, and related services. The business remained one of the larger mortgage servicers in the United States. Reference material reports a servicing portfolio of approximately $937 billion and more than 4.3 million customers in 2023. The company also originated more than 146,000 mortgages worth over $36 billion in 2020. Its operating history has included regulatory and legal challenges. In 2018, it paid settlements in New York and California involving alleged violations of state banking laws. In 2020, it agreed to a $91 million multistate settlement concerning foreclosure handling and borrower-payment practices. The settlement included funds for consumers whose homes were foreclosed while loan modifications were pending and borrowers whose monthly payments were increased without notice or consent. On October 31, 2023, Mr. Cooper experienced a cyberattack that compromised customer information. In March 2025, Rocket Companies announced an agreement to acquire Mr. Cooper in an all-stock transaction valued at $9.4 billion. The supplied reference material states that the acquisition closed in October 2025, making Mr. Cooper part of Rocket Companies while preserving its relevance as a mortgage-servicing brand.
- 2025
Rocket Companies acquires Mr. Cooper
[1]Rocket Companies announced a $9.4 billion all-stock acquisition, described in the supplied reference as closing in October 2025.
- 2023
Customer data is compromised in a cyberattack
[1]A cyberattack reported on October 31 compromised customer data.
- 2020
Mr. Cooper agrees to a multistate regulatory settlement
[1]The company agreed to a $91 million settlement concerning mortgage-servicing, foreclosure, and borrower-payment practices.
- 2018
Nationstar merges with WMI Holdings
[1]The merger created the modern Mr. Cooper Group, with WMI Holdings adopting the Mr. Cooper name and Nationstar becoming delisted.
- 2017
Nationstar adopts the Mr. Cooper identity
[1]Nationstar Mortgages announced a consumer-facing name change to Mr. Cooper, intended to make mortgage interactions more personal.
- 2012
Nationstar completes its public-market debut
[1]Nationstar Mortgage Holdings completed an initial public offering on the New York Stock Exchange in March.
- 2008
Washington Mutual banking operations fail and WMI enters bankruptcy
[1]Washington Mutual Bank was seized and placed into FDIC receivership in September, followed by Chapter 11 filings by Washington Mutual, Inc. and WMI Investment Corp.
- 2006
Fortress acquires and renames the mortgage business
[1]Fortress Investment Group acquired Centex Home Equity and renamed it Nationstar Mortgage.
- 1997
Nova Credit moves to Dallas and becomes Centex Credit
[1]Centex Homes established the company as an in-house lender for new construction and changed its name to Centex Credit Corporation.
- 1994
Nova Credit Corporation is founded
[1]The Nationstar lineage began in Denver as Nova Credit Corporation.
Products and positioning
A consumer-oriented United States mortgage brand focused on servicing residential home loans and supporting borrowers through origination, refinancing, and ongoing mortgage-account management.
Residential mortgage services
Mortgage servicing
Mr. Cooper's core activity is servicing residential mortgages on behalf of borrowers and mortgage investors. Servicing can include maintaining loan accounts, processing monthly payments, managing escrow information, communicating with borrowers, and administering delinquency or modification processes. The company had a servicing portfolio of approximately $937 billion and more than 4.3 million customers in 2023, according to the supplied reference material.
Mortgage origination
Home loans
The Mr. Cooper brand offers residential home-loan products for consumers purchasing or refinancing property. The available material does not specify individual loan products, eligibility rules, rates, or underwriting terms. In 2020, the company originated more than 146,000 mortgages with a combined value exceeding $36 billion.
Mortgage refinancing
Mortgage refinancing
Mortgage refinancing is part of Mr. Cooper's described business scope. These services allow eligible borrowers to replace or restructure an existing home loan, potentially changing its rate, term, or payment arrangement. Specific refinancing programs and current terms are not identified in the supplied reference material.
Controversies
2023
Cyberattack and customer-data compromise
A cyberattack reported on October 31, 2023 compromised customer data. The supplied reference does not identify the precise categories or volume of information affected.
2021
Mr Cooper fined over waste-management violations
Vermont's Department of Environmental Conservation fined Nationstar Mortgage LLC, doing business as Mr Cooper, $13,500 for violating state waste-management regulations after it failed to promptly remove waste from a property it owned. A court-approved administrative order also required the company to remove and properly dispose of the waste.
2020
Multistate settlement over foreclosure and payment handling
Mr. Cooper agreed to a $91 million settlement with the CFPB, all 50 states, and three U.S. territories over alleged mishandling of foreclosures and borrower payments. More than $74 million was directed to consumers affected by foreclosures during pending loan-modification reviews or payment increases made without notice or consent.
2018
State banking-law settlements
Mr. Cooper paid settlements in New York and California relating to alleged violations of state banking laws. The supplied reference does not provide the settlement amounts or detailed allegations.
Marketing campaigns
- 2017Mr. Cooper brand re launch
United States
Nationstar Mortgages changed its consumer-facing identity to Mr. Cooper. The company framed the rebrand as an effort to make mortgage service feel more personal and approachable.
Outcome. The Mr. Cooper identity became the principal consumer brand associated with the combined mortgage business.
Brand decisions
2025
Agree to acquisition by Rocket CompaniesM&ABackground
Rocket Companies sought to expand its mortgage and servicing platform through the combination.
Action taken
Rocket Companies announced an all-stock agreement to acquire Mr. Cooper for $9.4 billion.
Aftermath
The supplied reference states that the transaction closed in October 2025, making Mr. Cooper part of Rocket Companies.
Transaction value. $9.4 billion (Announced in March 2025; described as closed in October 2025)
2018
Merge Nationstar with WMI HoldingsM&ABackground
WMI Holdings was the corporate successor to Washington Mutual, while Nationstar brought a large mortgage-lending and servicing platform.
Action taken
The companies merged, WMI Holdings changed its name to Mr. Cooper Group, and Nationstar was delisted from the New York Stock Exchange.
Aftermath
The transaction created the corporate structure associated with the modern Mr. Cooper brand.
2017
Adopt the Mr. Cooper consumer identityStrategyBackground
Nationstar sought to present its mortgage business in a more personal and consumer-friendly way after a difficult financial reporting period.
Action taken
Nationstar Mortgages announced that it would change its consumer-facing name to Mr. Cooper.
Aftermath
The Mr. Cooper service mark became the principal consumer identity and later supplied the name for the post-merger corporate group.
Recent events
Reported
Mr. Cooper agrees to sell Xome Field Services[3]
Mr. Cooper agreed to sell Xome Field Services to Cyprexx Services for an undisclosed price. The transaction was expected to close during the fourth quarter.
Reported
Mr. Cooper announces sale of reverse mortgage servicing portfolio[4]
Mr. Cooper announced the sale of its reverse mortgage servicing portfolio, including its Champion-branded business, to Mortgage Assets Management.
Reported
Google Cloud announces partnership with Mr. Cooper[5]
Google Cloud announced a new partnership with Mr. Cooper to create a customer-centric digital mortgage servicing platform for loan documentation workflows.
Mr Cooper fined over waste-management violations[2]
Vermont's Department of Environmental Conservation fined Nationstar Mortgage LLC, doing business as Mr Cooper, $13,500 for violating state waste-management regulations after it failed to promptly remove waste from a property it owned. A court-approved administrative order also required the company to remove and properly dispose of the waste.
Sources5 sources
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