88$ Million Dollar Settlement
Recently the Department of Financial Protection and Innovation (DFPI) has joined the $88 million multi-state settlement with Nationstar Mortgage LLC. This is to resolve allegations that they violated numerous federal and state laws regarding foreclosures, loan modifications and servicing. About 54,000 Californians will be eligible to receive a portion of $19 million dollars. This will be restitution for excessive fees and various adverse practices in the mortgage industry. Any California residents who have inquiries or think that they may qualify have been encouraged to call Nationstar directly for more information. Watch out for predatory behavior when getting a mortgage. Shop around for a mortgage so you can make the best decision possible when buying a house. In 2017 the DFPI had to take action against Nationstar Mortgage LLC. This resulted in a $9.2 million dollar settlement for overcharging borrowers yet again and for failing to look into customer complaints. For more information see the DFPI website.