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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
I refinanced with another mortgage company in April and they were paid off on April 8th and now they say I am delinquent and reported me to the credit agency and my score dropped 93 points. Crooks
Mr Copper Did this to me when they are Nation star i ned to be include.
i am still with them. my original Countrywide loan is in pending modification with Mr Cooper / Nationstar 13 already no payment and they pay my taxis. what a mess .
Never get a loan from these crooks! The CEO now ca me from Bank of America! You know the one that changed everybodies documents then foreclosed and kicked hundreds outof their homes.The CEOis Jay Bray. Look up all the lawsuits. The Veterans Administration sold my loan to them. What hell !!!!!! Don’t do it. Research them throughly.Also they are known as mr.cooper to throw people off because of their devils triangle shyster coup. You will thank me later. Get a loan from a great credit union if you may. Check out everyone. And watch your rates at closing. Look carefully to see if they have changed the slightest thing such as a tiny interest rate. Do not be surprised at anything. 15 years will end up being the cheapest. What ever your rate is is is based on a 15 year loan so if you go 30 multiply the interest rate by twice interest rate. Go smaller. Pay the house off fast and do not forget the extra $20.00per month can really add up on time. You will be surprised. I never write one check for everything. I caught BAC. I wrote 2 seperate checks. One for house payment and the second one for my house payment. When they continued to call in regard to my house that they denied receiving I ordered my payment history. The Principal was there but guess what? There was 2 seperate checks in the same one envelope! Boom the BAC crud bank got caught. Always know what these places are capable. It is your invest so never trust them. Not any of them. I really hope this enlightens you .Just be aware.
I would like to be a part of this class action lawsuit. Nationstar NEVER PROVIDED THE DOCUMENTS I REQUESTED SINCE 2008 IN ORDER TO MOVE FORWARD FROM MY DIVORCE. 13 YEARS OF HELL!!! Ruined my credit, affected my career opportunities due to bad credit. I could not refinance because they have not provided the documents I needed. I hired lawyers and paid finance companies to obtain records of documents. Nationstar ignored deadlines to provide paperwork only to find out that there was NO record of mortgage, NO record of notary, NO RECORD OF LOAN. The note Nationstar provided had 2 dates, signed in California while the property is here in Hawaii. Nothing was ever signed in California. To make matters worst, they put my ex husband on the mortgage when we were divorcing. Who in their right mind would want their ex on the mortgage?!! THERE’S MORE TO THIS. PLEASE CONTACT ME. Gmdf_2@yahoo.com
Want to join this. Horrible company.
Has anyone else received the settlement card in the mail and had no response since the beginning of the lawsuit? I have been in the dark since and would like to submit my claim with this team.
I got the post card too. It should have a ckaim number on it. That means that you are already part of the law suit
I would like to join this lawsuit. I got screwed over so bad by nationstar.
I would like to join this lawsuit
I am nationstar client and would like to join this lawsuit. They are violating numerous FHA Guidelines and there seems to be no one that can help. They rolled fees into my new loan amount after doing a modification and then also took the amount from my escrow acct. After 6 months of paying a lowered rate the payment increased to more than it was when i initially closed on my home. I have filed CFPB COMPLAINT and have been trying to give them time to fix their error. I dont know how much longer I can afford the payments at this over 500.00 a month rate.
I want to join this class action lawsuit also. I feel that Nationstar also deceived me in my mortgage with them.