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Violation Tracker Individual Record

Company: Nationstar Mortgage dba Mr. Cooper
Current Parent Company: Mr. Cooper Group
Penalty: $86,300,000
Year: 2020
Date: December 7, 2020
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: mortgage abuses
Mega-Scandal: Mortgage Abuses
Violation Description: Nationstar Mortgage, which does business as Mr. Cooper, agreed to pay $86.8 million to resolve multistate allegations that the mortgage servicer engaged in unlawful practices in the wake of the 2008 financial crisis. The settlement addressed alleged misconduct regarding servicing transfers, property preservation, loan modifications, and other mortgage servicing issues, which in some cases led to improper foreclosure or borrowers being locked out of their homes. The settlement also involved the U.S. Consumer Financial Protection Bureau, which issued its own announcement; see separate entry.
Level of Government: state
Action Type: agency action
Agency: Multistate Attorneys General Case
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Texas
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.