DALLAS, Texas (April 11, 2018) – Nationstar Mortgage LLC (NYSE: NSM) (“Nationstar” or the “Company”) today issued the following statement in regards to a settlement with the New York Department of Financial Services (“NYDFS”) stemming from issues dating back to 2011.
“Our commitment to keeping the dream of homeownership alive for our customers is unwavering, and we apologize to our valued customers in New York for these past issues,” said Jay Bray, Chairman and CEO of Nationstar. “We are pleased to resolve this matter, and we look forward to working with NYDFS and the National Community Stabilization Trust to help many New York residents find affordable housing.”
Under the terms of the agreement, Nationstar will pay a $5 million penalty to NYDFS. In addition, Nationstar will work with NYDFS and the National Community Stabilization Trust in New York to provide $5 million in property donations and rehabilitation costs that will help low to moderate income families find affordable housing. The company previously provided New York customers with approximately $7 million in restitution.
About Nationstar Mortgage Holdings Inc.
Based in Dallas, Texas, Nationstar Mortgage Holdings Inc. (NYSE: NSM) provides quality servicing, origination and transaction based services related principally to single-family residences throughout the United States. Please visit www.nationstarholdings.com for the latest news and information about Nationstar.