How to Remove PMI from Mr. Cooper (Now Rocket Mortgage)

Mr. Cooper is now part of Rocket Mortgage. Rocket Companies, Rocket Mortgage's parent company, completed its purchase of Mr. Cooper Group on October 1, 2025. Rocket Mortgage now services former Mr. Cooper loans.

Rocket says your loan number and loan terms stayed the same. The Mr. Cooper website and app are no longer available, and a Rocket account replaces your Mr. Cooper account.

So a PMI request on a former Mr. Cooper loan goes to Rocket. If your loan has since moved to another servicer, that company handles the request.

Step 1: Check That You Qualify

Your loan-to-value ratio is your current principal balance divided by your home's value. For borrower-paid PMI on a conventional loan:

• 80% of the original value: you can ask in writing to cancel PMI.
• 78% of the original value: PMI must end automatically on the original payment schedule, as long as you are current.
• The halfway point: if PMI is still on the loan at the midpoint of its original schedule, such as year 15 of a 30-year loan, it must end then, as long as you are current.
• Current value: if your home has gained value, Fannie Mae and Freddie Mac loans can qualify at 75% or less between years 2 and 5, and 80% or less after year 5.

You also need to be current, with no payment 30 or more days late in the last 12 months and none 60 or more days late in the last 24 months. Rocket's guide says servicers also check that there is no second mortgage or other lien on the home.

These rules don't cover lender-paid PMI, which Rocket says can't be canceled, or the mortgage insurance on an FHA loan (MIP).

Step 2: Call Rocket

Rocket's PMI page tells its clients to call (800) 4-ROCKET to ask how to cancel PMI. The Mr. Cooper site now lists the same number.

Rocket's PMI page also says an appraisal must verify your home's current value. Rocket's PMI pages don't give the price or say who orders it. On the call, ask what loan-to-value ratio your loan needs, which valuation Rocket accepts, who orders it, what it costs, and where to send your written request. Write down the answers and the name of the person you spoke to.

Step 3: Send the Request in Writing

Mr. Cooper no longer publishes its own addresses. Rocket lists one address for written servicing requests. Unless Rocket gives you a different address on the call, send your signed request there. Include your name, the property address, your loan number and a clear request to cancel PMI. Keep a copy and note the date you send it.

The Bottom Line

Rocket Mortgage now services former Mr. Cooper loans, so your PMI request goes to Rocket. Call Rocket first, then send a signed letter to the address Rocket lists for written requests. Get Rocket's valuation requirements before anyone orders an appraisal.

PMI Ninja handles Rocket requests from start to finish, including loans that came from Mr. Cooper. We check your equity before any appraisal is ordered and follow up until Rocket confirms in writing that PMI is removed. We offset the appraisal cost, and nothing is due until your PMI is canceled.