Ace Your Nationstar Mortgage Interview: The Top 20 Questions You Need to Prepare For

Interviewing at Nationstar Mortgage? You’ve come to the right place

Getting hired at one of the largest non-bank mortgage servicers in the country is no easy feat. Competition is fierce, with over 8000 employees across the US

This comprehensive guide will help you ace your Nationstar interview. We’ve compiled a list of the top 20 most commonly asked questions, along with examples of strong responses.

Whether you’re interviewing for an analyst, account manager, or customer service role, these tips will help you stand out from the pack. Read on to learn how to master the Nationstar interview process.

Overview of Nationstar Mortgage

Before we dive into the questions, let’s do a quick overview of Nationstar Mortgage.

Nationstar, now rebranded as Mr. Cooper, is a leading mortgage servicer that manages over 3 million home loans nationwide. They are known for providing personalized service and online tools to help homeowners manage their mortgages.

Some key facts about Nationstar:

• Services over $500 billion in mortgages
• 8000+ employees
• Headquartered in Dallas, TX with locations across the US
• Handles origination, servicing, and residential capital markets

Now that you have some background, let’s look at the top 20 questions you’re likely to face.

Top 20 Nationstar Mortgage Interview Questions

1. Why do you want to work at Nationstar Mortgage?

This is often the very first question you’ll encounter. Interviewers want to gauge your interest in the company and the mortgage industry.

Tips for answering:

• Show enthusiasm for their servicing-focused business model
• Talk about their strong reputation for customer service
• Mention being drawn to their innovative technology
• Share any personal experience with mortgages to demonstrate passion

Example: “I’m excited by Nationstar’s focus on mortgage servicing and providing homeowners with exceptional service. Your stellar reputation and use of technology to enhance the customer experience really appeals to me. My parents went through the mortgage process last year, so I understand the anxiety homeowners face. I’d love to be able to help customers navigate their loans and become a trusted partner.”

2. What do you know about Nationstar Mortgage?

They want to see you’ve done your research on the company. Be ready to demonstrate your knowledge.

Tips for answering:

• Highlight facts about their history, leadership, size, and growth
• Mention core business areas like origination, servicing, residential capital markets
• Discuss their rebranding to Mr. Cooper and why they did it
• Share any news or announcements that show you’re up-to-date

Example: “Nationstar is one of the largest non-bank mortgage servicers, managing over $500 billion in mortgages for around 3 million homeowners. The company was founded in the 1990s and has seen tremendous growth over the past decade. Nationstar rebranded as Mr. Cooper in 2017 to emphasize their focus on personalized service. Under the leadership of CEO Jay Bray, Nationstar continues to invest in technology and staff to enhance the customer experience.”

3. Why do you want to work in the mortgage industry?

This question gauges your passion for the industry itself. Convey a genuine interest in this field.

Tips for answering:

• Share if you have any prior mortgage experience
• Discuss your interest in real estate and finance
• Mention the satisfaction of helping people realize homeownership dreams
• Highlight the problem-solving nature of the industry

Example: “I’ve always had an interest in real estate and finance. Helping families navigate the mortgage process to achieve the dream of homeownership is extremely rewarding. The mortgage industry also requires strong analytical skills to evaluate risk, which I find very interesting. The constant evolution of products, regulations, and technology also keeps it dynamic. This motivates me to continuously learn and grow.”

4. What do you know about mortgage servicing?

Given their focus on servicing, interviewers will want to assess your knowledge in this area.

Tips for answering:

• Explain the difference between loan origination and servicing
• Discuss the responsibilities involved in servicing like billing, collections, escrow
• Mention how servicers act as an intermediary between borrower and lender
• Share your understanding of general servicing processes and regulations

Example: “Mortgage servicing involves managing a mortgage after it’s been originated by a lender and sold to an investor. So the servicer handles ongoing administration like collecting payments, managing escrow accounts, and responding to customer inquiries. Servicing requires strict compliance with regulations like RESPA and CFPB rules. If I were hired, I’d look forward to learning the specifics of Nationstar’s servicing operations and how they provide an exceptional borrower experience.”

5. How does a mortgage servicer like Nationstar make money?

They want to ensure you understand their basic business model and revenue sources.

Tips for answering:

• Mention servicing fees paid by the loan’s investor
• Discuss float income from escrow funds
• Explain how servicers earn interest on payments between receipt and disbursal
• Share your knowledge of any other servicer revenue streams

Example: “Mortgage servicers like Nationstar generate revenue from a few key sources. Firstly, they collect servicing fees from the loan investors they are servicing for. Secondly, they earn interest income from escrow accounts held on behalf of borrowers for taxes and insurance. Thirdly, they earn interest on payments between when they are received and disbursed. There can also be income sources like late fees. Overall, Nationstar has built a strong servicing portfolio that provides stable fee income.”

6. What makes you qualified for this mortgage servicing role?

Use this opportunity to directly connect your skills and experience to the servicing job.

Tips for answering:

• Mention any prior experience in servicing, originations, or related roles
• Highlight administrative skills like organization, attention to detail, multi-tasking
• Discuss people skills such as communication, customer service, and patience
• Share your comfort with technology and eagerness to learn new platforms

Example: “Through my 3 years in loan operations roles, I’ve developed the key skills needed to transition into a servicing position. For one, I have sharp attention to detail and organizational abilities to efficiently manage high volumes of customer accounts, based on my experience processing mortgage applications and supporting underwriters. I’m also comfortable working across multiple systems and am a quick learner when it comes to new technology. Most importantly, I have strong customer service skills to address borrower needs with patience and understanding.”

7. How would you handle an angry customer calling about their mortgage?

In a customer-facing servicing job, this scenario is highly likely. Show how you’d calmly diffuse the situation.

Tips for answering:

• Discuss listening actively to understand the customer’s frustrations
• Mention using empathy and patience even when facing verbal abuse
• Explain how you would research their account history to get context
• Share that you would present solutions tailored to their situation

Example: “First and foremost, I would listen closely to understand the source of their anger without interrupting them. I would empathize and acknowledge their frustration. Even if they use profanity or yell, I would maintain composure and professionalism. Once I grasp the issue, I would research their account history for context. Finally, I would present solutions customized to their situation, like payment assistance programs they may qualify for if facing hardship. My goal would be to turn their negative experience into a positive one.”

8. How do you stay up-to-date on mortgage industry trends and regulations?

Demonstrate passion for continuous learning in this fast-paced industry.

Tips for answering:

• Mention reading industry publications and news sites regularly
• Discuss attending conferences, seminars, and training sessions
• Share that you follow key agencies like CFPB, FHA, and FHFA
• Highlight any professional development initiatives you undertake

Example: “I make an effort to stay on top of industry trends and regulations through several methods. I read mortgage news sites like National Mortgage Professional on a daily basis. I also subscribe to email newsletters from agencies like the CFPB that provide policy updates. Whenever possible, I attend local and national mortgage conferences to hear directly from experts on regulatory changes. I’m also planning to pursue an MBA with a concentration in real estate finance to deepen my mortgage knowledge. Staying informed is crucial in order to provide customers with accurate, up-to-date guidance.”

9. How do you handle stressful situations at work?

Managing stress is par for the course in a fast-paced mortgage servicing job. Discuss your coping tactics.

Tips for answering:

• Share work examples of remaining calm under pressure
• Discuss stress management tactics you use like exercise, meditation, planning
• Mention ways you prioritize and stay organized when workload gets heavy
• Highlight any training in stress management or emotional intelligence

Example: