Seventy-Eight Vermonters to Receive $100,000 in Restitution
Vermont Business Magazine Attorney General TJ Donovan and Commissioner of Financial Regulation Michael S Pieciak announced today that Vermont has joined a settlement with the country’s fourth-largest mortgage servicer, Nationstar Mortgage, over consumer protection and mortgage-servicing violations. Seventy-eight Vermonters have received or will receive relief totaling approximately $100,000 in connection with this settlement, and the State will receive approximately $15,000 in a penalty payment.
The violations affected more than 115,000 consumers across the country. The settlement totals $86 million nationally. Nationstar Mortgage currently does business under the name “Mr Cooper.”
The settlement resolves allegations that Nationstar violated consumer protection and lending laws during its servicing of mortgage loans. The settlement provides restitution for a variety of harms that were identified in the investigation