Mr. Cooper assumption timeline
6 community reports · #4 fastest of 12 servicers.
Median
152 d
Average
4.7 mo
Range
120–152 d
Average days by loan type
| Loan type | Reports | Median | Average |
|---|---|---|---|
| Not stated | 4 | 136 d | 136 d |
| FHA | 1 | 152 d | 152 d |
| VA | 1 | 152 d | 152 d |
Common holdups
- No single point of contact4×
- Underwriting backlog3×
- Slow to send the application package2×
- Servicer transfer mid-process1×
- FHA~152 days
3% → 2.5% FHA assumption closed in April 2024; "the process took 5 months." Hired a third-party assumption helper after ~54 days with no progress; told of a 1,500-file backlog.
- Underwriting backlog
- No single point of contact