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Nationstar Mortgage / excessive mortgage payoff charges

1 Seattle, WA, United States

On march 8, 2018, I wired $228, 052.00 as a mortgage payoff - this was just 8 days after our march 1 regularly scheduled payment had been made and processed. Instead of charging us $187 for 8 days of interest, nationstar charged us $714 for the entire month of march on the entire unpaid balance - 23 extra days interest on funds they had in hand - or $527 overcharge. We have had numerous conversations with them regarding this matter and they refuse to make any changes and/or refund the excessive interest. They maintain there was still a small balance due on the contract which would have no bearing on how the interest was calculated. The remaining balance would have been $527 less if they had only charged for the 8 days they were entitled to. Subsequently, they sent us a payoff quote and I overnight express mailed a cashier's check to them. Later that day, they sent a new payoff quote for $410 more than the first one, maintaining I would once again have to get a cashier's check and overnight mail to them. Subsequently, (more than 2 months later), they have not removed themselves as mortgage payees from the property title and/or insurance policy. They are nothing more than loan sharks!! No one should ever do business with this company and/or mrcooper - the name they now do business under.

Bo
Jun 21, 2018

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