NATIONSTAR MORTGAGE

2019-06-21

Escondido, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-06-21

Ft Myers, FL

Struggling to pay mortgage

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2019-06-21

Taft, OH

Trouble during payment process

Mortgage: VA mortgage

Complaint: Nationstar Mortgage is the Servicing company for my XXXX VA Mortgage. The Mortgage was included in a XXXX XXXX decree and was currently in default ; foreclosure was imminent. I had identified a buyer that would pay 100 % of the outstanding default mortgage. Nationstar required an excessive amount of time to prepare a payoff quote and when they finally did prepare one they did not provide the timelines requested. The title company was able to coordinate a closing for Friday XXXX XX/XX/2019 ; 1 day after the poorly timed Payoff Quote was good through from Nationstar. As part of the closing process, the title company included an additional 6 days of accrued interest to the required payoff amount quoted by Nationstar in the wire which was sent on XXXX XX/XX/2019. Nationstar refused to accept the payoff amount. Due to their abusive and predatory practices, they delayed review and acceptance of the wire which contained a full payoff amount and now require an additional payment of more than {$1000.00}. This unconscionable display of delay in processing amounts to an observed posture of predatory fee collection on service members and veterans attempting to rectify a prior history of financial difficulty. In addition, the new owners attempting to invest in their community and the property they recently purchased are now exposed to unnecessary risk. As of today, Nationstar continues to maintain their position as correct and we are required to start from the very beginning of the process again, more than a month after initially reaching out to them ; about a month after closing had occurred. Appropriate payment sent by our title agency was never accepted by Nationstar and they sent the funding back ; they appear to either be grossly negligent or purposefully predatory to mortgage holders attempting to appropriately manage their financial situation.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-06-21

Arvada, CO

Trouble during payment process

Mortgage: FHA mortgage

Complaint: Once again they are using payment funds how ever they want - they say I owe my full mortgage amount for XXXX on XX/XX/XXXX - but I will already be paying the XXXX mortgage payment. Please review the attached file for payments made for this loan. I did not choose to be this companies customer I was financed with another company - I am really tired of their fraud and theft of mortgage funds.
Company Response: Closed with explanation

Timely Response

2019-06-20

Hinsdale, IL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-06-20

Camarillo, CA

Attempts to collect debt not owed

Debt collection: Mortgage debt

Debt is not yours
Company Response: Closed with explanation

Timely Response

2019-06-20

Anaheim, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-06-20

Del Rosa, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-06-20

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-06-20

Alta, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: Hello, we have big problem again, there is a foreclosure sale scheduled for our home on XX/XX/XXXX and we are out of options and we have exhausted ourselves with this horrible company. We have had many attempts to receive an affordable monthly payment but no resolution and no affordable monthly payment offer has been given. We have sent in a request for mortgage assistance form along with bank statements taxes paystubs and other documents necessary for a loan modification review. We recently sent Mr. Cooper all documents but Mr. Cooper ahs the sale still scheduled. As part of this bailout, on XX/XX/XXXX, the United States Government took over XXXX XXXX and pumped billions, which in XX/XX/XXXX, then Treasury Secretary XXXX XXXX said as much as {$XXXX} XXXX would be pumped into XXXX XXXX and XXXX XXXX, each, which was separate from the {$700.00} in TARP funds given out to other lenders. 1. The guidelines issued by the United States Treasury set forth a detailed process whereby a participating servicer, either action or not acting through its subsidiary, must : a. identify loans that are subject to modification under the HAMP program, both through its own review and in response to requests for modification from individual homeowners ; b. collect financial and other personal information from the homeowners to evaluate whether the homeowner is eligible for a loan modification under HAMP ; c. institute a modified loan with a reduced payment amount as per a mandated formula, that is effective for a three-month trial period for borrowers that are eligible for a modification ; and d. provide a permanently modified loan to those homeowners who comply with the requirements during the trial period. Whether the homeowner qualifies for a modification or not, participating servicers are also required to provide written notices to every mortgage borrower that has been evaluated for a loan modification, whether or not the borrower has been found eligible. HAMP and its associated directives also set prohibitions against certain conduct including demanding upfront payments in order to be evaluated for a loan modification, instituting or continuing foreclosures while a borrower is being evaluated for a loan modification, assigning a single point of contact, maintaining an adequate level communication with borrowers, maintaining proper caseload to ensure HAMP objections are met, and restrictions on the way a servicer may report the borrower to credit reporting agencies. All servicers have systematically failed to comply with the terms of the HAMP directives and has regularly and repeatedly violated several of its prohibitions. Now that HAMP is over and expired due to servicers prolonging these modifications they are now proceeding with other alternatives. Under HAMP, the federal government incentivizes participating servicers to make adjustments to existing mortgage obligations in order to make the monthly payments more affordable. Servicers receive at least {$1000.00} for each HAMP modification. However, this incentive is countered by a number of financial factors that make it more profitable for a mortgage servicer avoid modification and to continue to keep a mortgage in a state of default or distress and to push loans toward foreclosure. This is especially true in cases where the mortgage is owned by a third-party investor and is merely serviced by the servicer. However, this incentive is countered by a number of financial factors that make it more profitable for a mortgage servicer such Mr. Cooper to avoid modification and to continue to keep a mortgage in a state of default or distress and to push loans toward foreclosure. This is especially true in cases where the mortgage is owned by a third-party investor and is merely serviced by Service companies because Service companies do not carry a significant risk of loss in the event of foreclosure. California Business and Professions Code 17200 et seq., also known as the California Unfair Competition Law ( UCL ), prohibits acts of unfair competition, including any unlawful, unfair, or deceptive business act or practice as well as unfair, deceptive, untrue or misleading advertising. Mr. Cooper and all other previous servicers and their Investors conduct was unlawful in that : They illegally began and prosecuted the non-judicial foreclosure based on the lien to the 1st Deed of Trust, despite i was not in breach of payments on said lien ; They engaged in the uniform practice of requesting unnecessary documentation, seeking repetitive submissions of the same documents, and never rendering a decision, and in doing so, such activity provides the basis for an unfair inquiry and could deceive the public because it places burdensome requirements on me that served no purpose but to provide a basis for either engaging in Dual Tracking by selling my home and by denying loss mitigation options, such as loan modifications ; They failed to properly consider loan modification applications before trying to sell my home. 1. On information and belief, Mr. Cooper does not own a significant majority of the loans on which it functions as servicer. 2. Economic Factors that discourage Mr. Cooper from meeting its obligations under HAMP by facilitating loan modifications include the following : a. Mr. Cooper may be required to repurchase loans from the investor in order to permanently modify the loan. This presents a substantial cost and loss of revenue that can be avoided by keeping the loan in a state of temporary modification or lingering default. b. The monthly service fee that Mr. Cooper, as the servicer, collects as to each loan it services in a pool of loans, is calculated as a fixed percentage of the unpaid principal balance of the loans in the pool. Consequently, the modifying of a loan to reduce the principal balance results in a lower monthly fee to the servicer. c. Fees that Mr. Cooper charges borrowers that are in default constitute a significant source of revenue to it. Aside from income Mr. Cooper directly receives, late fees and process management fees are often added to the principal loan amount thereby increasing the unpaid balance in a pool of loans and increasing the amount of the servicers monthly service fee. d. Entering into a permanent modification will often delay a servicers ability to recover advances it is required to make to investors of the unpaid principal and interest payment of a non-performing loan. The servicers right to recover expenses from an investor in a loan modification, rather than a foreclosure, is often less clear and less generous. e. Fixed overhead costs involved in successfully performing loan modifications involve up-front costs to the servicer for additional staffing, physical infrastructure, and expenses such as property valuation, credit reports and financing costs. 3. Rather than allocating adequate resources and working diligently to reduce the number of loans in danger of default by establishing permanent modifications, Mr. Cooper has serially strung out, delayed, and otherwise hindered the modification processes that it contractually undertook to facilitate when it accepted billions of dollars from the United States. Mr. Cooper delay and obstruction tactics have taken various forms with the common result that my loan serviced by Mr. Cooper, in which im eligible for permanent loan modifications, and have met the requirements for participation in HAMP, have not received permanent loan modifications to which iam entitled. 4. By failing to comply with the California Homeowner Bill of Rights ; specifically, by engaging in the unlawful practice of Dual Tracking, Mr. Cooper has left me in a state of despair and panic as I seek a loan modification from Mr. Cooper, only to have my home wrongfully, oppressively and illegally sold out from under my feet. We have been in a fighting battle with our bank/ servicer Mr. Cooper for a very long time I mean very long time. We have been trying for a loan mod. recently its getting worse and worse and the bank keep pressuring and not providing an affordable loan mod. that we can afford which will help us keep the home and not throw us out on the streets. So our servicer now is Mr. Cooper and we have sent them many times a request for mortgage assistance forms packet with all documents. Recently we mailed and faxed in a copy of the request for mortgage assistance and all required documentation to be reviewed for a loan modification. Mr. Cooper keeps prolonging this process. Mr Cooper now are saying that have all documents received for a review but they still have our home under a foreclosure sale and recently they said they put the sale on hold but different representatives keep telling us different information one says ins on hold the other says its still on sale but after reviewing and calling the trustee its still on for sale, seems to me some of the representatives are trying to manipulate and get me false information to think that everything is ok but its not according to the trustee nothing has been stopped or placed on hold. If Mr. Cooper proceeds to sell my home while having a complete request for loan modification review packet then they will be in violation of multiple laws including but not limited to my California Home Owner Bill of Rights Act Mr. Cooper has still placed my home on a foreclosure sale set for XX/XX/XXXX and has not CANCELLED the foreclosure sales until the review and an affordable loan modification and the process has been approved and agreed upon not some {$4000.00} monthly payment that no one can afford but one that is reasonable and that if helping the borrower not a ridiculous sum that will force us to move out. We sent them all documents and are in review at the moment but why have they not yet removed the foreclosure sale. Thank you.
Company Response: Closed with explanation

Timely Response

2019-06-19

Coral Springs, FL

Written notification about debt

Debt collection: Mortgage debt

Didn't receive enough information to verify debt
Company Response: Closed with explanation

Timely Response

2019-06-19

DE

Trouble during payment process

Mortgage: Reverse mortgage

Company Response: Closed with explanation

Timely Response

2019-06-19

Huntsville, AL

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-06-19

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-06-19

Bentley, MI

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-06-18

Garland, TX

Struggling to pay mortgage

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2019-06-18

Atl, GA

Trouble during payment process

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2019-06-18

Barnsboro, NJ

Incorrect information on your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Account status incorrect
Company Response: Closed with explanation

Timely Response

2019-06-18

Struggling to pay mortgage

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2019-06-18

Rncho Domingz, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: On XXXX XXXX, I received notification my mortgage service was going to be transferred to Mr . I also received a letter from MR. Cooper stating the service of my Mortgage was transferred from Seterus to Mr. Cooper effective XX/XX/XXXX and the monthly payment due was noted as {$940.00}. I typically make my payments a few days before due date and the payment for XXXX was made via auto draft on XX/XX/XXXX. The auto-draft for Seterus has continued since then. Not only has Seterus continued to draft the monthly payment, but Mr. Cooper also started a monthly draft for the amount of {$1000.00} for XXXX and XXXX and {$1000.00} for XXXX. This problem has resulted on a catastrophic financial burden on my part for having to make double monthly mortgage payments one to Seterus and another to Mr. Cooper. I understand that Mr. Cooper bough Seterus, so I have no way to reach out to Seterus to request they stop drafting a monthly payment. I would like to get help from the CFBP on understanding my rights and the next steps to resolve the problem.
Company Response: Closed with explanation

Timely Response

2019-06-18

Brooklyn, NY

Struggling to pay mortgage

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2019-06-18

Inglewood, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: The company Mr. Cooper said I they do not see benefit for my getting the modification. Now they are requesting the full amount we are behind $ XXXX
Company Response: Closed with explanation

Timely Response

2019-06-18

Chicago, IL

Trouble during payment process

Mortgage: Reverse mortgage

Complaint: I got a reverse mortgage XX/XX/2010they gave a total of XXXX in debt and I got XXXX but they told me I still had money up that I could get the money for repairs 6 months to a year but now they are changing everything they said around the loan officer I was dealing with is no longer working at champion mortgage now that I need my money for home repairs they are saying there is none I have reached out to them but nothing or no one has helped me now I am reaching to someone here I am senior citizen that's on fix income and no one wan na listen to me or help me I feel like I did something wrong I was only trying to help myself I really feel like I made a mistake my property was paid for before I went 2 these people they have traded my loan to over 4 different companies champion mortgage is the latest one can someone I TRUELY NEED HELP
Company Response: Closed with explanation

Timely Response

2019-06-17

Salton City, CA

Incorrect information on your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Account information incorrect
Company Response: Closed with explanation

Timely Response

2019-06-17

OH

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Mr. Cooper will not release our insurance check that we were required to sign over to them so that we can make the repairs necessary to our home. They continue to ask for the same documents over and over and state each time that the check will be five to seven business days and must stay in escrow for five days to clear. We were hit by a tornado and do not have most of our roof and continue to get more damage.
Company Response: Closed with explanation

Timely Response