Katherine Webster  |  February 10, 2021

Category: Lawsuit Settlements

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A man in a suit gives a young couple a key - nationstar mortgage

 

The website for the Nationstar Mortgage settlement is now live.

Though Class Members are not yet able to file claims, information about the case — including the class action complaint and settlement agreement — is available on the site.

The $91 million Nationstar Mortgage settlement resolves allegations of mortgage servicing misconduct and deceptive practices that financially harmed borrowers.

The lawsuit was filed in federal court by attorneys general in each state.

A similar, separate lawsuit was filed by the Consumer Financial Protection Bureau (CFPB).

According to the plaintiffs, Nationstar Mortgage, which does business as Mr. Cooper, allegedly engaged in misconduct and abusive mortgage servicing practices between 2012 and 2015, violating the Consumer Financial Protection Act of 2010.

The company services about 3 million borrowers who have a total of about $500 billion in unpaid principal balances on their loans.

The lawsuit specifically alleged Nationstar Mortgage violated the Consumer Financial Protection Act by improperly increasing permanently modified monthly loan payments, wrongfully foreclosing on mortgage loans, mismanaging escrow accounts, and failing to honor agreements over loan modifications.

According to the Nationstar Mortgage settlement site, a fund of about $5.8 million has been established in order for eligible borrowers to receive cash payments.

Two groups of individuals may be eligible: the Service Transfer Population and the Property Preservation Population.

A key with a hanging house keychain is in the lock on a door - nationstar mortgage settlement

The Service Transfer Population is made up of borrowers whose loans were transferred in bulk to Nationstar from Feb. 1, 2011, and Dec. 18, 2017, became 30 days delinquent within 90 days of the transfer, and that delinquency resulted in the dispossession of the property in foreclosure. 

The Property Preservation Population is made up of borrowers whose property was subject to inspection by Nationstar or an agent of Nationstar, was determined to be vacant, and as a result of that determination, Nationstar or its agent changed the lock between June 24, 2011, and Dec. 29, 2017. Borrowers in this group also must have requested access to the property within 30 days of the initial lock change, or, within 90 days of the initial lock change, the property must have been reported as occupied during a subsequent inspection.

Additional criteria for these groups may also be met.

Those who are eligible to take part in the Nationstar Mortgage settlement should expect an information packet this year. The packet will include a claim form.

According to the Nationstar Mortgage settlement website, more information on the settlement was expected in late January, so it should be available at any time. 

Top Class Actions is following this settlement and will let you know when the claims period opens.

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70 thoughts onNationstar Mortgage Settlement Website Is Live

  1. Charlene says:

    Can anyone out there tell me or provide a link for the claim forms Nationstar never sent me anything and I was one of the first houses they robbed. I talked to wells fargo who apparently bought my morgage from bank of America then some middle man company computershare transfered it to nationstar aka Mr Cooper. They took payments then foreclosed. Just trying to find info. Was given this # to call. 833-685-2566. If anyone gets someone to answer please share what you learn.

  2. maria van gelder says:

    where can I report non compliance with this settlement and judgment and orders not to harm consumers anymore. My mother is sicka nd 80 and they want to rob her house please where can i report

  3. RICHARD HUMPHREYS says:

    Add me. Mr Cooper gave me an unfair loan mod after forebearance.

  4. Heidi says:

    They did the same to my mother who was sick at the time and they took her home and she passed away . These people are the dirtiest people I have ever dealt with . Now they are trying to come after me as her estate . Did anyone hear about the law suit? I hope you all get what you deserve . They pray on vulnerable people . Disgusting business .

    1. Heidi says:

      I just received a check for this lawsuit and not sure how they came up with this amount . Has anyone else received their check and if so could someone share the amount they received ?

      1. Rachel Donnatien says:

        I received at check for $37!!! How did they decide this was sufficient for stealing my house!!!!

  5. Robert loope says:

    I filed some kind of claim against Nationstar but not sure who with! I did a mod and forbearance and got screwed!

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Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.