For the second time this year, Nationstar Mortgage LLC has agreed to a settlement with a state located in the Northeast for alleged servicing abuses. Problems with originations were also identified.
This year’s first settlement with the Dallas-based company, which does business as Mr. Cooper, was with Massachusetts’ attorney general in January.
Nationstar was accused of providing modifications without considering borrowers’ ability to repay the debt. It also allegedly failed to log, track and process documents for modification reviews.
Source: Mortgage Daily