Civil Plaintiff

51 Attorneys General Settle with Mortgage Servicer Nationstar for $86.3M

Phoenix AZ (December 7, 2020) – Attorney General Mark Brnovich has joined with 50 other attorneys general and other federal and state agencies to reach an $86.3 million settlement with Nationstar Mortgage. Arizona will receive more than $1.4 million in relief. Nationstar is the country’s fourth-largest mortgage servicer.

The consent judgment resolves allegations that Nationstar, which does business as “Mr. Cooper,” violated consumer protection laws during its servicing of mortgage loans. The settlement provides restitution for a variety of harms that were identified in the investigation. Thousands of borrowers nationwide had problems when their loans were transferred to Nationstar, which may have led to foreclosures for more than 200 Arizonans.

The consent judgment, filed today in the U.S. District Court for the District of Columbia, provides that approximately $79.2 million in relief affecting 55,814 loans nationally. It covers conduct by Nationstar from Jan. 1, 2011, until Dec. 31, 2017.

Read the source article at Sedona.Biz

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