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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.
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.Â
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.Â
Top Class Actions is following this settlement and will let you know when the claims period opens.
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71 thoughts onNationstar Mortgage Settlement Website Is Live
They essentially stole our house. We worked out deals with them and then they wouldn’t honor the..
I tried to refinance and they would not do it. I have good credit. They started the application and never followed up. INter.est rate is a 5.5. I have never been late with a payment.
Bank of America sold my mortgage to Nationstar and when the transfer finished there was almost 100k added to my note. I spent hours and hours disputing and was assigned an account manager, manager informed me 60k was. a mistake on nationstar and under writing refused to remove. acct manager was fired
forced to do modification in which the payment wasn’t allowed to increase, it stayed the same and a year later the payment doubled and the additional 100k was still on my note. nationstar foreclosed my home and would not even allow me to pay and make the note current. when they auctioned the home it was listed at the original purchase price. i owed 92k i believe they sold it for 130k
I will like to join this class action against Mr. Cooper during the Epidemic they let us into the forbearance program few months from now we requested for them to put the balance of loan to the of the life of the loan we wanted to start our regular payment on the loan they kept given us Lott’s of running around, they offered us a 60 year’s modification program when we have less than 3 year’s to pay our home
Didn’t honor my previous modification. Tried increasing monthly payments. Thousands in lawyers fees to stop foreclosure action 2x that shouldn’t of happened as we were paying. They funds they were suppose to apply to escrow never made it and then they sold loan again
I have been trying to get this property and house in my name since my mom passed away and left everything to me and I’m still having problems with them. This started when I signed up for the forbearance plan and they approved us the first time but after that when we tried to get an extension for our forbearance than they wanted to give us all kinds of problems. I’m still having problems with them and they sent my info to a credit agency I want to join this lawsuit
We went into foreclosure shortly after our mortgage was switched to them back in 2014. They kept adding on insane amount of fees so that we were unable to catch up. Over $10000.00
We also kept sending the packet they requested in information to get a modification and they would continually say it was in the wrong format, or they would ask for current pay stubs and bank statements (paystubs and statements were current when I sent them in). They did this atleast 4 plus times. Another time they said it was in the wrong format.
We had a meeting with them in person the day after my mother went into the hospital after having a major stroke. I had asked them to reschedule and they would not. I went in stressed to the max not even caring at the time about the house because of what was going on with my mom. I hadnt eaten in 2 days and was literally shaking sitting at the table. I dont even remember anything they said. I brought the same paperwork they had been asking for, they did not except it and moved forward with the foreclosure.
Shortly after I had also lost my mother. She had left me life insurance money and i had called to ask them how much it was to pay it off to get caught up or pay off the home completely. They told me it was too late and that I could not. I WAS STILL LIVING IN THE HOME!
I was later told I could buy back the home until it was sold.
I would like to join this lawsuit!
i am a customer of nationstar i to want to join in this lawsuit contact me
I want to join class action against MrCooper, can somebody contact me?
CAN I GET ON THIS NATIONSTAR MORTGAGE MR COOPER LAWSUIT. THEY WON’T REFINANCE ME I AMNEVER LATE AND MY INTERST RATE IS 6.76 FOR 15 YEARS
DI EXACT same problem, Ive tried for years, have had this mortgage for over 10 years at 5.75% and will absolutely not let me refi!!!!!