Are you looking for information on how to request a third party payoff with Mr Cooper in 2023? You’ve come to the right place. In this article, we will guide you through the process of submitting a third party payoff request to Mr Cooper, a leading mortgage servicing company.
What is a Third Party Payoff?
A third party payoff is a process where a borrower requests to pay off their mortgage through a third party, such as a title company or another lender. This typically occurs during a home sale or refinance when the borrower wants to transfer the responsibility of paying off the mortgage to another entity.
Submitting a Third Party Payoff Request
To submit a third party payoff request with Mr Cooper, you will need to follow these steps:
Step 1: Gather Required Information
Before initiating the request, make sure you have all the necessary information. This includes your loan number, the name and contact information of the third party, and any additional documentation they may require.
Step 2: Contact Mr Cooper
Reach out to Mr Cooper’s customer service department by phone or email to initiate the third party payoff request. Provide them with the required information and ask for any specific instructions or forms that need to be filled out.
Step 3: Complete the Request Form
Fill out the third party payoff request form provided by Mr Cooper. Make sure to provide accurate information to avoid any delays in processing your request. Double-check all the details before submitting the form.
Step 4: Submit the Request
Once you have completed the form, submit it to Mr Cooper through the designated channel. This can be via email, fax, or through an online portal, depending on the instructions provided by the customer service representative.
Processing Time and Fees
The processing time for a third party payoff request can vary depending on the volume of requests and the complexity of your situation. It is recommended to submit the request well in advance to ensure timely processing. As for fees, Mr Cooper may charge a processing fee for handling the third party payoff request. Contact their customer service for more information on applicable fees.
Submitting a third party payoff request with Mr Cooper is a straightforward process. By following the steps outlined in this article, you can ensure a smooth and efficient transfer of mortgage responsibility. Remember to gather all the necessary information, contact Mr Cooper’s customer service, complete the request form accurately, and submit it through the designated channel. If you have any additional questions or need further assistance, don’t hesitate to reach out to Mr Cooper’s customer service department.