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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
Mr. Cooper/ Nationstar are able to get away with lying on your modification documents. They offered pandemic forbearance help. At end of forbearance period they sent loan modification for extension papers with my ex husband’s name on it to sign. He had.nothing to do with the loan …We have been divorced for a few years when I got this loan. He was not there and name is no where on closing documents. I’ve sent proof. I couldnt sign like that. So a lot people I’ve talked say these people ore lying and trying to get my house. I’ve heard this company screws people. There is no way I can pay the lump sum to Save my mortgage. These people are forcing me into foreclosure. I just don’t understand how they lie and get away with it.
I have not received the paperwork yet.
I have not received the packet for a claim yet
I know how you feel we lost our homes and 7.9 acres of land we lost everything we’re living in a bus and back home that we lived in before his father passed away that was my husband’s inheritance so I don’t know how to get in touch with these people can somebody please let me know how to get in touch with me people and see if we are in the lawsuit I would appreciate it
Nationstar tried to take our home with a bogus claim on a mortgage where we are not even the persons listed in their paperwork, however they had our home address in the court motion for foreclosure and filed a motion to proceed with foreclosure on adebt they could. not collect Please include
Mr. Cooper took extra money from my account for escarow with no knowledge of it. I paid double on the mortgage every month since I did a refinance on it, then they tack on another $400.00 a month. I have checks bouncing all over hells half
acres.
Also I looked far another place to live on a preapproval as long as I sell my house. 7+ months later the committment wasn’t given to the realtor, they kept telling us that they couldn’t get anyone to do the surveyor the house assessment, or you can close on this day or that day.
No calls regarding the status of the house, but , after I found out I wanted a V.A loan they told me that FHA didnt do VA LOANS .3 DAYS LATER I WAS THAT THEY COULDNT HONOR THE LOAN NO LESS 2 DAYS BEFORE WE WERE TOLD WE COULD CLOSE. THEIR WAS MORE LIES AND BULL PUCK GOING THAN THAT, LIKE TAKING MY APPRASIAL MONEY AND PUTTING IN ESCROW.
My Dad passed away February 2020 k my home was I. His name but I held & hold a quick claim deed that was unrecorded but notarized & the mortgage was transfered to Mr Cooper. As the successor in interest I opted in to forbearance for 18 months that ended September & Mr Cooper sent letter with single point of contact for resolving forbearance but can’t ever get the single point of contact they keep rejecting income documents tax return & don’t specify why then send email about missing documents & then a 2nd email at same time saying they received all needed but modification shows paused & that income documents need updated & I keep submitting same document. This is ridiculous & my mortgage is owned by Freddie Mac & under thre servicer guidelines they shouldn’t need any documents cause after u are 90 days delinquent they are suppose to just offer flex modification. I wrote letter told them if they have any question as to edd income then don’t use the income & after rejecting docs again I only uploaded letter stating I would be reaching out to Freddie Mac for help & that I would file complaint with federal agency. & now it’s accepted when I didn’t give anything it that letter now I’m afraid they will deny a modificatio. My house value is more than double what is owed on mortgage.
Similar case scenario for me too Grace. They approved the loan modification and then lied and said I did not pay the first payment on time on October 9, 2020 (last year). I proved they lied and showed my bank account that the money was received by them on October 3 and their account statement showing where they used that payment and added in additional money that was in a suspense account and made it the mortgage payment for October 2020. When I proved that to them (going through the Consumer Financial Bureau of SC) they then said that because the mortgage was a VA mortgage in my husband’s name that I could not assume that mortgage. Also stated that the VA underwriters would not approve that. The VA said that was not true.
Perhaps you and I had the same “single point of contact” Jacob Kaliscewski. I got letter after letter stating different things, with different dates and different “reasons” of what I did not do correctly. It was the same as what you went through. The most ridiculous things that after many, many calls, letters, my complaints they actually drove me to be suicidal and I had a lady from HUD that was talking to and I was crying and telling her how I felt and she called 911 and the police and ambulance came and took me to the psych ward for observation.
While I was looking at this the contact person that was “helping me” from Consumer Financial Protection Bureau of SC called me. I read this to him about the lawsuit against Nationstar/Mr. Cooper and he said that had nothing to do with them because they were only for the State of SC. I totally do not think that he doesn’t know about this.
I am going to add my name to this class action suit but it looks like from the comments that the packet of forms to fill out are not being received.
I have two complaints sent in to Mr. Cooper that are being “investigated”. I have received at least 7 letters saying 7 different things with different “resolution dates” the last which was October 13. None of the dates have been met.
That whole company should be shut down and not allowed to be in business.
The date of issue for that class action noted at top of this page is for loans transferred to them between 2011 -2017. I wish there was a way to exchange our contact info without publicly posting it. I have opened a case with Freddie Mac & just today looking over statements I never really went over cause I’m so stressed out & I see they been adding $236 a month for PMI for a year almost right after it was transferred to them. I have never had to pay PMI , my equity in the home is double what I owe on the loan so I have 60% equity & that’s a low ball estimate. The loan originated over 5 yrs ago in 2016 when we refinance to get a lower interest rate & didn’t take any cash out just refinanced at a lower interest rate, we purchased the home in 2008 with a 25% down payment. There are penalties they have to pay borrowers for violation of certain regulations. I’m thinking about trying to file my own law suit against them in my county. It can’t be cheap for their lawyer to have to appear in my city & state and contacting a media source like the Washington post would couldn’t hurt.
The date of issue for that class action noted at top of this page is for loans transferred to them between 2011 -2017. I wish there was a way to exchange our contact info without publicly posting it. My single point of contact has changed a couple times but all 3 of them that I’ve had were all females & I never spoke to any one of them…. I have opened a case with Freddie Mac & just today looking over statements I never really went over cause I’m so stressed out & I see they been adding $236 a month for PMI for a year almost right after it was transferred to them. I have never had to pay PMI , my equity in the home is double what I owe on the loan so I have 60% equity & that’s a low ball estimate. The loan originated over 5 yrs ago in 2016 when we refinance to get a lower interest rate & didn’t take any cash out just refinanced at a lower interest rate, we purchased the home in 2008 with a 25% down payment. There are penalties they have to pay borrowers for violation of certain regulations. I’m thinking about trying to file my own law suit against them in my county. It can’t be cheap for their lawyer to have to appear in my city & state and contacting a media source like the Washington post would couldn’t hurt.
I’ve experienced the same, I have a Fannie Mae loan and went into forebearence during Harvey. They claimed to add it to the back of the loan and instead came back a year later to collect four months of mortgage and they asked for it all at once. Under Fannie Mae this is forbidden. I had to take high interest loans to pay it back and it forced me into bankruptcy.
They took my home from me after they said I was in remod and approved, next thing you know I’m looking for a place to live within 30 days. We Haven’t heard a thing since then either. Probably a scam.
Me too in March 2020. I received a check from the lawsuit for $37…total 🐂💩
Me too
I never received any notice to file a class action against Nationstar. My loan has been with them since 2015. Can I be included?
I received a card as a member of the class action suit against NationStar/Mr Cooper, but applied on-line registration. That was on a holiday weekend (Thanksgiving) & the final deadline for joining. Never heard a word back, any confirmation, nor received a packet. Checked the class action website, & tried to contact somebody, but nobody responds.
I applied online and by mail, received a confirmation number and haven’t heard anything since or received a package. Last I read was Nation Star appealed. I will try calling tomorrow