Mr. Cooper has announced efforts to provide added support to customers facing financial crisis caused by the coronavirus.
The mortgage lender said it would give additional assistance programs, as well as new digital tools, and increase call center staffing to boost customer support.
“What we are experiencing is unprecedented, and although it is too soon to tell what the long-term effects of this pandemic will be, we know that right now homeowners need a solution for mortgage payment relief,” said Jay Bray, chairman and CEO of Mr. Cooper Group. “We are pleased that the CARES Act creates a simple, consistent solution for our customers. As we continue to navigate this new territory, our team members are working around the clock to ensure we keep the dream of homeownership alive for our nearly 4 million customers.”
Under the CARES Act, Mr. Cooper offers customers a forbearance plan, which allows them to temporarily put monthly mortgage payments on hold for three to 12 months. The firm launched new tools to enable borrowers to sign in and apply for pandemic forbearance online.
The company also announced a specialized COVID-19 pandemic training for its call center employees and efforts to grow its staff to handle the large volume of customer calls.
Additionally, Mr. Cooper continues its operations in a remote work environment and currently lets the majority of its team members to work from home.
“During unforeseen times such as these, it is imperative that our team members know their well-being is our top priority. Happy and healthy team members are key to our culture and are better able to serve our customers with the compassion and service needed today,” Bray said. “Our company has a long history of serving customers when they need us most. We are a proven industry leader, and I am confident we will remain resilient and be stronger than ever before.”