CooperClear with Mr. Cooper
A Competitive Servicing-Release Execution
CooperClear is designed to give you a competitive edge by leveraging the combined strengths of Mr. Cooper and Freddie Mac. This collaboration ensures industry-leading operational efficiencies, improved execution and quick access to capital.
Benefits
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| Operational Bifurcation | The Seller is responsible for selling representations and warranties, and Mr. Cooper is responsible for the servicing representations and warranties. |
| Streamlined Loan Delivery | Electronic loan data delivery through Loan Selling Advisor® simplifies loan delivery. |
| Loan Eligibility | Loan Product Advisor (LPA) only. Available for Mandatory (Bulk and Hybrid AOT) and Best Efforts. |
| Tri-Party Relationship | This tri-party relationship allows lenders direct communication with Freddie Mac. Loans sold through CooperClear count toward the minimum required Freddie Mac production. |
| Enhanced Pricing | Improved pricing for maintaining the selling representations and warranties on Ioans you sell. |
| Expedited Loan Purchase | Eliminates credit escalations, resulting in expedited loan purchases. |
| No Volume Commitments | There are no minimum volume thresholds. |
| Comprehensive Support | Work with a dedicated team at Mr. Cooper for your loan production and service. |
Process
Lock Loans with Mr. Cooper
Process Underwrite and Close Loans
Use Loan Selling Advisor® to upload Loan Data
Ship Note & Upload Complete Imaged File to Mr. Cooper
Mr. Cooper Accepts & Funds Your Loan!
Getting Started
If you're interested in participating in CooperClear, you must meet certain criteria. For information, contact your Freddie Mac representative or your Mr. Cooper B2B Sales team.