Nationstar Mortgage Settles for $5.8M Over Claims of Mortgage Servicing Law Violations
Deadline
Deadline: March 3, 2025
Total Settlement Amount
Total amount allocated for all claims
Individual Payout Range
Estimated amount per eligible claim
Proof of Purchase
No specific proof required; however, eligibility will be determined based on Nationstar’s records.
Settlement Summary
Nationstar Mortgage, a company known for offering home loans and other mortgage services, reached a settlement of $5.8 million over claims that it violated mortgage servicing laws. These violations caused some borrowers to lose their homes through foreclosure. Two groups of homeowners were affected: the service transfer population and the property preservation population. The service transfer population consists of borrowers whose loans were transferred to Nationstar for servicing and became delinquent, resulting in foreclosure. The other group, the property preservation population, includes borrowers who had their property locks changed by Nationstar, denying them access. These violations allegedly caused financial harm to borrowers, with some even losing their homes. The lawsuit was filed by state attorneys and mortgage regulators from 50 states, marking a significant win for homeowners who were wronged by the company. The settlement provides a chance for borrowers to receive a cash payment, with the amount determined by their circumstances, such as foreclosure or lockout. The final judgment was made on Dec. 8, 2020, and the deadline for borrowers to submit a claim form is March 3, 2025.
Entities Involved
Eligibility Requirements
- Borrowers whose loans were transferred to Nationstar for servicing between Feb. 1, 2011, and Dec. 18, 2017, and became 30 days delinquent within 90 days of the service transfer, resulting in foreclosure
- Borrowers whose property was inspected by Nationstar, determined to be vacant, had the lock changed between June 24, 2011, and Dec. 29, 2017, and either requested access to the property within 30 days of the initial lock change or the property was reported as occupied through a subsequent inspection within 90 days of the initial lock change
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Submitting false information in a settlement claim is considered perjury and will result in your claim being rejected. Fraudulent claims harm legitimate class members and may result in legal consequences.
If you are unsure about your eligibility for this settlement, please visit the official settlement administrator’s website using the link provided above. Review the eligibility criteria carefully before submitting a claim.
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