Mr. Cooper Takes Rapid Action to Reverse Invalid Payments
28 April 2021 - 2:21AM
Business Wire
On Saturday April 24, 2021, Mr. Cooper discovered that its
electronic payments vendor, ACI Worldwide, inadvertently issued
incorrect mortgage payment drafts while conducting a test of their
system. We immediately reported this error to our customers’ banks
and worked with them to prevent any financial impact to our
customer accounts by providing credits and reversing the incorrect
drafts and fees which might have been charged. This was not a
security breach, and Mr. Cooper did not receive any funds from
customer accounts. As a result of our immediate action, as of
Tuesday, April 27, out of 480,000 customers who could have been
impacted, we are aware of approximately 100 customers who may have
incurred nonsufficient funds fees as a result of ACI’s error, and
we are in the process of reimbursing them for these fees. We are
not aware of any customers for whom the incorrect drafts were not
reversed.
The trust of our customers is more important to us than anything
else. Upon discovering the payment processor’s error, we alerted
customers through email, our website, social media posts, and our
blog, and we have brought on extra staff at our call centers to
answer customer questions. Any impacted customers will not be
responsible for any fees or other charges they may have
incurred.
Customers looking for more information may visit the Payment
Information Center on mrcooper.com or call us at 888-480-2432.
About Mr. Cooper Group
Mr. Cooper Group Inc. (NASDAQ: COOP) provides quality servicing,
origination and transaction-based services related principally to
single-family residences throughout the United States with
operations under its primary brands: Mr. Cooper® and Xome®. Mr.
Cooper is one of the largest home loan servicers in the country
focused on delivering a variety of servicing and lending products,
services and technologies. Xome provides technology and data
enhanced solutions to homebuyers, home sellers, real estate agents
and mortgage companies.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210427006210/en/
Investor Contact: Kenneth Posner, SVP Strategic Planning and
Investor Relations (469) 426-3633 Shareholders@mrcooper.com
Media Contact: Christen Reyenga, VP Corporate Communications
MediaRelations@mrcooper.com
Mr Cooper (NASDAQ:COOP)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Mr Cooper (NASDAQ:COOP)
Historical Stock Chart
Von Apr 2023 bis Apr 2024