$2M resolution with mortgage firm: Are you one of 1,500 WA residents owed money?

In a significant development, Attorney General Bob Ferguson announced that more than 1,500 Washington residents are eligible to claim a share of a $2 million settlement with Nationstar, one of the largest mortgage servicers in the U. S. This settlement follows an extensive investigation revealing multiple violations of state and federal laws, including improper fees and record mismanagement leading to wrongful foreclosures. Nationstar, operating under the brand name Mr. Cooper, has reached out to affected individuals through letters outlining their eligibility.

Ferguson highlighted the settlement's importance in providing restitution to those harmed by the company's actions. Eligible residents will receive compensation ranging from $250 to $840, depending on individual circumstances, with a claims deadline set for March 3. The Washington State Department of Financial Institutions is overseeing the claims process to ensure all affected homeowners receive their due compensation. This settlement reflects ongoing efforts to hold mortgage companies accountable and protect consumer rights, aiming to restore trust in the mortgage servicing industry.