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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.
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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71 thoughts onNationstar Mortgage Settlement Website Is Live
Lived in Indiana from 2008-2011. Nationsstar was my mortgage company. Some of my own mismanagement of finances, along with pressured contact from Nationstar, eventually led to me filing “quit claim deed” with Nationstar. Had an opportunity to sell house, cash offer, out of area appraiser did not properly appraise house, lost sale.
We now live in Alabama. How do I update my address in order to be included?
Our home loan was sold to NationStar which rolled into Mr. Cooper and the experience was nothing short of a nightmare.We are eligible for this – many of these things happened during that 15 years (and I am certain I filled something out requesting to be a part of this but have not received a packet? I hope it’s not too late?
I joined this class action suit before the deadline in November 2020 I have the unigue code I have not heard anything when I use the code it does nothing how can I contact anyone that can help me there is no 80p number to call thankyou
I experienced this withdrawing payments that were not authorized and they denied it. Took two payments causing issues. They also charged me back legal fees and mounting fees for late payments even though my payments are on time.
Our mortgage got sold to Nationstar/Mr Cooper in February 2021. They mis-applied our May payment (paid April 30) and slapped us with a late fee. I called to get it fixed and spoke to someone who was more interested in selling me a refinance than helping me. He supposedly got if fixed, and I had to ask for the late fee refund. I was told- “Oh- I didn’t know you wanted us to do that, too.” As of today (July), it’s still not fixed, and I was alerted to the negative report on my credit. I’m not hopeful they will resolve this and if I can join any action against this company, I’d be happy to.
Nationstar reports on your credit to stop you from refinancing &any government help with a mortgages .also they are partnered with wellsfargo.who is where they hide the stolen funds nationstar aka Mr Cooper is under government super vision.it cost $350 to file in federal court.file against where ever ur money goes bank ect from Mr Cooper thief why because in nationstars shareholder section any money held in suspension or for agencies they can do as they please invest short term ect.actual share holder fraud security fraud supeana the heads of all 50 att general and the security exchange commission and all news media including YouTube stars .fire all heads of the banner money goes to same boards of nationstar Mr Cooper and anybody with the last name bray prohite them from owning stock working trading direct or 3rd or millionth party any where near stock the Mary case from 2017 class action judge called it a calculated scheme in the opinion.the 2 definition meaning its criminal 650 plus billion dollar company.dont settle cheap no less then 50 billion in class action. Because it only takes 2.5 million to get to the US supreme court if your lawyers are pusdys teller thier fired get it in writing they will take it to the US supreme court noterized.its get them locked in.they lose or settle for less it’s fraud legal malpractice.and sue thier insurance
I would like to see if I’m eligible for this law suit? Please advise
I did short sale property in 2013 but had mortgage nation star how I know cheat me out my property
How do I join this lawsuit because before the owner of the property passed away Nationstar Mortgage was trying to foreclose on the house? We filed an answer to the courts about how there wasn’t a notary public present during the signing of the note, which took place at the owners house, making the promissory note not valid. Please help me keep my house, which was given to my mother through a Will and Testament as I am the representative.
I received a redress letter with a check. I’m not sure what that means. I didnt get any packet in the mail. They did me dirty before the sold my account.
I lost my home after 12 years with Nationstar when I requested a loan modification. I am a claimant and need to follow through as to when I will recover my mortage payments and the 20K I handed to Nationstar in good faith. I now suffer from severe depression and need these monies to resolve my medical expenses.