Allegations of unfair servicing and foreclosure practices in the Bay State have been resolved by Nationstar Mortgage LLC through a multi-million-dollar settlement.
The Massachusetts Act Preventing Unlawful and Unnecessary Foreclosures requires creditors to make a good faith effort to avoid foreclosure for borrowers with subprime loan terms.
But Nationstar, which does business as Mr. Cooper, is accused violating the law by providing modifications without considering borrowers’ ability to repay the debt.
Source: Mortgage Daily
