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Did Mr Cooper take over Seterus?
Cooper completes acquisition of IBM’s Seterus mortgage servicing platform. Mr. Cooper Group (the company formerly known as Nationstar) revealed this week that it completed its acquisition of IBM’s Seterus mortgage servicing platform in a deal that will add 300,000 new customers to Mr.
Is Seterus a mortgage company?
On December 18, 2020, the Consumer Financial Protection Bureau (Bureau) issued a consent order against Seterus, Inc. (Seterus), a former mortgage servicer based in North Carolina, and Kyanite Services, Inc. (Kyanite), Seterus’s former parent company and its successor in interest.
Does Seterus still exist?
Seterus is no longer operating. On Feb. 28, 2019, after the relevant period covered by the Bureau’s investigation, Seterus was sold and its entire mortgage servicing portfolio was transferred to Nationstar Mortgage LLC, doing business as Mr. Cooper.
Who bought Seterus mortgage company?
On February 28, 2019, Nationstar Mortgage LLC, a Delaware limited liability company and an indirectly held, wholly-owned subsidiary of Mr. Cooper Group Inc., completed the previously-announced acquisition of the Seterus mortgage servicing platform and assumed certain assets related thereto from IBM.
What happened Seterus mortgage?
Is there a lawsuit against Seterus?
Dozens of homeowners have reached a proposed $7 million settlement with Seterus Inc. in a class action lawsuit about threatening notices the company sent out regarding their home mortgage. Lawyers for the 29 lead plaintiffs submitted the deal to the U.S. District Court for the Middle District of North Carolina on Dec. 17.
Why did the CFPA issue a consent order against Seterus?
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (Bureau) issued a consent order against Seterus, Inc. (Seterus) and Kyanite Services, Inc. (Kyanite), as Seterus’s successor in interest, based on the Bureau’s finding that Seterus violated the Consumer Financial Protection Act of 2010 (CFPA) and Regulation X.
What happened to Seterus mortgage?
On Feb. 28, 2019, after the relevant period covered by the Bureau’s investigation, Seterus was sold and its entire mortgage servicing portfolio was transferred to Nationstar Mortgage LLC, doing business as Mr. Cooper.
Does Seterus’s conduct violate California consumer laws?
We believe that Seterus’s conduct as described above violates California consumer laws.