Nationstar Mortgage LLC, doing business as Champion Mortgage Company, provides mortgage servicers for customers in the United States. It also offers reverse mortgage services. Nationstar Mortgage LLC was formerly known as Centex Credit Corporation and changed its name to Nationstar Mortgage LLC in 2006. The company was founded in 1994 and is based in Dallas, Texas. Nationstar Mortgage LLC operates as a subsidiary of Nationstar Mortgage Holdings Inc.
8950 Cypress Waters Boulevard
Dallas, TX 75019
Founded in 1994
Federal lawsuit Filed Against Bank of America and Nationstar Mortgage, LLC
Jul 20 15
An 8 and ½ year battle over a foreclosed home has Las Vegas, NV. Resident Michael Bondi filed a Federal lawsuit against Bank of America, N.A. and Nationstar Mortgage LLC. The lawsuit claims Fraud, Civil Conspiracy, violations of the Federal Fair Credit Reporting Act, Federal Fair Debt Collections Practices Act, and Misrepresentation. Bondi's problems started with Bank of America in 2008 when BofA took over Bondi's Countrywide Home Loan. Bondi was in a car accident in 2007, leaving him unable to work and losing his savings. Bondi had over 5 valid short sale offers on his home that BofA refused to accept because Bondi would not sign a blank Promissory Note. Bondi's home was ultimately foreclosed in June of 2009. Bondi continued to have several problems with BofA after the foreclosure. BofA incorrectly reported Bondi's credit as an Open foreclosure which made it appear Bondi was still missing monthly payments on a home that he no longer owned. Bondi contacted BofA a year after the foreclosure in 2010. Bondi found several violations of Federal Law, about which he confronted BofA. BofA in an effort to avoid litigation from Bondi, offered to correctly zero out Bondi's credit report and to change his report as a foreclosure with a zero balance, per Federal Law. Bondi's updated credit report reflected and showed a ZERO BALANCE and Closed Foreclosure Status for over 3 years until June 2013. Bondi received a letter from BofA stating that his loan was going to be sold to Nationstar Mortgage LLC for collection purposes. Bondi contacted BofA's Office of the CEO and they confirmed that BofA records showed Bondi had a zero balance. BofA still sold Bondi's zero balance account with no explanation and no apology. July 2013, Bondi contacted Nationstar Mortgage LLC and advised them of the status of the loan and the zero balance. Bondi provided copies of credit reports clearly showing a zero balance. After several months, Nationstar Mortgage LLC reviewed the account, agreed with Bondi, and sent him several letters stating that they would not collect from him and that his account was closed with a zero balance. December 2013, Nationstar Mortgage LLC sent Bondi's account to their internal collection agency -- Veripro Solutions -- for further collection activity. Bondi then contacted Veripro Solutions and sent letters from Nationstar Mortgage LLC and copies of his credit report, clearly showing a zero balance. January 2014, Veripro Solutions issues a letter to Bondi stating that they will close out his zero balance account and they will not take any further action against him or his credit report. April 2014, Bondi's credit is destroyed once again. This time Nationstar Mortgage LLC, which clearly stated that Bondi had a closed account with a zero balance, now reported to the credit bureaus a MAJOR DEROGATORY Charge Off debt for over $69,000.00. Bondi's credit score dropped over 100 points. Bondi lost his credit card accounts, a new home loan, an auto loan, and suffered business losses due to inaccurate credit reporting from Nationstar Mortgage LLC. July 2014, fearing that this situation would not end and would continue to get worse, Bondi filed a Federal lawsuit claiming damages in excess of $1 million. December 2014, both BofA and Nationstar Mortgage LLC deleted all negative trade lines/accounts on Bondi's credit report, only after Bondi filed his federal law suit. Bondi currently has over 1,000+ pages of letters, copies of credit reports, and other evidence to support his claims against BofA and Nationstar Mortgage LLC. Bondi is looking forward to his day in federal court to prove his allegations as stated above.
Nationstar Mortgage LLC and Nationstar Capital Corporation to Redeem 10.875% Senior Notes Due 2015
Jun 25 14
Nationstar Mortgage Holdings Inc. announced Nationstar Mortgage LLC and Nationstar Capital Corporation will redeem all of the outstanding 10.875% senior notes due 2015 (CUSIP No. 63860U AB6) on July 25, 2014. On the redemption date, a redemption price of 100% of the principal amount of the notes, plus accrued and unpaid interest on the notes redeemed to, but not including, the redemption date, will be payable by the issuers to the holders on the redemption date. The notes will be redeemed utilizing nationstar's cash on balance sheet. As of June 25, 2014, $285 million aggregate principal amount of the notes were outstanding. The notes are held only in book-entry form through the Depository Trust Company. DTC will redeem the notes in accordance with its procedures and notify the holders. Holders of the notes need not take any action to receive payment of the redemption price.
Nationstar Mortgage LLC Announces Layoff of 115 Employees
Feb 19 14
Nationstar Mortgage LLC is laying off 115 employees in St. Louis County. The layoffs are effective April 13, 2014. Nationstar Mortgage opened a loan originations, operations and fulfillment center in Westport in 2012. It hired 300 people at that time.