DALLAS, TX (May 14, 2018) – Today, Nationstar Mortgage LLC (NYSE: NSM) (“Nationstar” or the “Company”) issued the following statement regarding a settlement with the Office of the Attorney General of the State of Maryland.
“We recognize and have resolved the operational issue addressed in this order and have worked tirelessly to identify and correct impacted accounts to avoid significant impact to our customers,” said Jay Bray, Chairman and CEO of Nationstar. “Over the past few years, we have consistently made investments in new staff, training and technology to enhance our processes, and we are committed to treating our customers responsibly and in full compliance with the law. Our customers are our top priority, and we’re confident this issue has been successfully contained and thoughtfully addressed.”
Upon discovery of this issue in 2013, we quickly updated our procedures and made restitution to impacted customers. Under the terms of the agreement, the Company will pay a civil monetary penalty of close to $490,000 and further customer restitution of $260,000.
Moving forward, we will continue to foster a culture of compliance, ethics and innovation as we continue on our journey to reinvent the mortgage experience and keep the dream of homeownership alive.
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.