Mr. Cooper review: setting people up to fail 31

This is one of the most corrupted corporations out there. So far I have had three incidences with this company! I'm shocked that our government does not protect us from corrupt corporations such as Nationstar. Something needs to be down! I wish we could create an American boycott of coporations in America and take a stand. Without us, they are worthless!

yes, , we have to stop them. You never get to speak to the same person, note; California made it a law that on foreclosure it is law that you deal with the same person .They repeat and give different offers from different clerks and will not put nothing in writing. You have to accept their verbal offer and at the same time someone is calling with a different offer on the same loan modification.Nation Star says they don't know what the loan interest will be or the terms but send the money for 3 months and they will consider giving you a loan modification but the RESPA rules say that a Truth and lending statement must accompany all real estate transactions. These statements state the rules for the term of the loan as interest, prepayment clauses, length and everything pertaining to the loan. I think when Nationstar says send the money, they are violating some of the very rules that got us into the mess we are in now. You have no guarantee to the loan modification and it says on the generic letter the money can be applied to the previous debt. We would have to be pretty lame to believe this. The best way to stop this rip -off is a contingency clause on the contract that states if the loan will be modified if for 3 months and at what terms, and clearly states the ''what if, '' if it is not. This loan modification is now the new loan, with clear terms.

What is the predicted outcome of a class action in this case? I saw the results of the 49-State Foreclosure Fraud netted $25 billion in red tape. It does nothing truly helpful for those that have already lost their homes, unless you count the $1, 200 apology they will get because the state will do nothing more because the class action against the "big five" has been settled.

I am filing suit against Nationstar directly. My case is unique as are ALL mortgage fraud cases. Lumping them together will only benefit attorneys as clearly demonstrated recently by our Attorney Generals.

Okay, folks. This is Jennifer Snyder. I am an attorney in CA. I have lots of modification and wrongful foreclosure cases right now and I am so sick of seeing companies like Nationstar essentially take people's homes away from them due to predatory lending and negligent record keeping. The whole reason I posted here and want to do a class is because this company took over my mortgage so I have seen first hand the negligence here. I say let's get these companies, starting with Nationstar! Law Offices of Jennifer R Snyder [protected]. Jennifer@jrslawoffices.com
PS A class action is absolutely appropriate where a company's negligence and disorganization materially deprives folks of their rights!

Descartes - is your real name Sheldon Cooper? LOL!

Would CBS be a better source? http://www.cbsnews.com/video/watch/?id=7361572n
How about NBC? http://economywatch.nbcnews.com/_news/2012/04/19/11269115-inside-the-foreclosure-factory-theyre-working-overtime?lite
Maybe CNN? http://money.cnn.com/2010/10/22/real_estate/foreclosure_paperwork_problems/index.htm
Perhaps BusinessInsider.com would be enough to convince you: http://articles.businessinsider.com/2010-10-12/wall_street/29971208_1_freddie-mac-ginnie-mae-monthly-mortgage-payment

Reuters is a credible source though. Amusing how you skipped right over that article.

Oh Descartes...your ad hominem is showing. ;)

"1. OP admits to stop making payments."
How do you figure that? Nowhere in the op is this stated. In fact, op states: "and never missed a payment nor was I even late!"

"2. OP claims that banks desire foreclosure when no lending institution wants to foreclose as they will lose their revenue on the interest they charge you."
You presume much here. You presume that the bank/and or servicer involved here is acting in good faith, you further presume that they will lose money in a foreclosure. This is inaccurate. Please see the following articles which show how servicers in particular (which Nationstar is) make money during a foreclosure: Mortgage Servicers make money on foreclosures (http://www.huffingtonpost.com/2009/10/21/perverse-incentives-lead_n_328378.html), Unnecessary Mortgage Servicing Fees (http://www.totalbankruptcy.com/overview/financial-literacy/mortgage/fees.aspx), and How loan servicers milk the foreclosure-prevention program (http://blogs.reuters.com/felix-salmon/2010/04/14/how-loan-servicers-milk-the-foreclosure-prevention-program/).

"3. OP thinks that based on 1 and 2 they have legal grounds for a suit, which is of course absurd."
They may indeed have legal grounds if they find they have a clouded title due to a broken chain of title. This is why they need to go to their local county clerk's office and look for themselves to see if every assignment of title has been properly recorded or not. If there is a missing assignment, they may have a very good case indeed and should at least consult a lawyer.

Still waiting... ;)

BTW, Descartes - you failed to answer my question which was "how is it bad advice to encourage people to check to see if their chain of title is broken or not and then further encourage them to consult a lawyer if they do find out it is broken?" I actually would like an answer.

"ad hominem", you keep using that word. I do not think it means what you think it means. The advice I am providing is solid based on information coming out about the housing scandal. It is not legal advice, it is "go educate yourself" advice.

Based on what you post, it is pretty clear fact that you are adding nothing of value. No ad hominem about it:

"1. You stopped making payments. 2. No lending institution wants you to foreclose as they will lose their revenue on the interest they charge you. 3. You have no legal basis whatsoever for a suit."

"lolwut? Dumbest thing that I have ever read here by far."

"That isn't how it works at all...Lenders make money from the interest rates agreed upon, charged and that are paid."

"Again, there is no legal basis for a suit here. WasNotBornYesterday is offering bad advice..."

"adhominem.jpg"

"More ad hominem I see? All you appear to be interested in is providing advice that is not supported by fact, and then slinging personal attacks at those that disagree."

Descartes - you add nothing of value.

Descartes, how is it bad advice to encourage people to check to see if their chain of title is broken or not and then further encourage them to consult a lawyer if they do find out it is broken? I think you are not educated in what is happening with the housing market and all you have to offer are negative comments. Please, educate yourself on what is going on. The clouded-title issue is a serious one. That you don't think so proves how ill-informed you actually are.

Jennifer R. Snyder - a class action suit is not the answer here. There is no way that a class action can effectively remedy all of the very individual issues each Nationstar client is facing.
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I encourage everyone to research "broken chain of title", go down to your county clerk's office and see if you have a broken chain of title, send in a QWR (qualified written request - my lawyer is drafting one that won't get shot down but will be unanswerable by Nationstar because of our broken chain of title issue - thereby putting them in direct violation of RESPA), consult an attorney and see about challenging Nationstar's supposed right to even collect your payments.
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Again, class action is not the way to shut them down. They'll get a slap on the wrist and will continue business as usual. We have to hit them individually - thousands of us at the same time!

I am an attorney in California who is working on a class action suit against NorthStar. Contact for information regarding this action.
Jennifer R. Snyder
[protected]
jennifer@jrslawoffices.com

Please tell me how to join a class action suit against NationStar. denisemartini@prodigy.net

Yeah. I got my own home owners insurance. It took these bozos 8 months to notice. Then they sent me a letter threatening me with insurance that would be much higher than I would get myself...and then said they valued my business. Where's the dept of justice. Oh wait they r working for the illegals now. Silly me

Another interesting article in how LENDERS make money on foreclosures:
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From MSN Real Estate: "Look who’s pushing homeowners off the foreclosure cliff"
http://realestate.msn.com/look-who-is-pushing-homeowners-off-the-foreclosure-cliff
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From the article: "Here’s how it generally works: Banks and their mortgage servicers strike arrangements — often exclusive — with insurance companies in which the banks agree to buy high-priced policies on behalf of homeowners whose coverage has lapsed. The bank advances the premium to the insurer, and the insurer pays the bank a commission, which is priced into the premium. (Insurers say the commissions compensate banks for expenses such as “advancing premiums, billing and collections.”) The homeowner is then billed for the premium, commissions and all."

We have an attorney. NationStar has not made contact with us since last November despite repeated calls from my attorney to their attorney. I called their 'contact us' number and asked if that attorney was still an employee with them. They said yes. I said I wanted to talk with that attorney's boss. They said the attorney didn't have a boss because they were an attorney. What a joke. Can we please do something to shut these bozo's down? I wouldn't be surprised if they aren't being run by an illegal cartel or terrorist organization.

WasNotBornYesterday ---thanks for posting the link...

And I'm talking about mortgage servicers...you know, the companies that collect payment for the lenders.

ALL evidence to the contrary, This Place Needs More Descartes.

Adding: One of the prime way for mortgage servicers to make money if for them to utilize "at risk" mortgages, aka "high performing mortgages". If you are paying your mortgage on time, you are considered a "low performing mortgage" and their goal is to put you into the "high performing" category so they make tons of money.
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Unnecessary Mortgage Servicing Fees
http://www.totalbankruptcy.com/overview/financial-literacy/mortgage/fees.aspx
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Mortgage Servicers make money on foreclosures:
http://www.huffingtonpost.com/2009/10/21/perverse-incentives-lead_n_328378.html
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How loan servicers milk the foreclosure-prevention program:
http://blogs.reuters.com/felix-salmon/2010/04/14/how-loan-servicers-milk-the-foreclosure-prevention-program/

What Mortgage Servicers are and are not required to do: http://qna.mortgagenewsdaily.com/questions/monthly-mortgage-statements-and-payment-coupons (

Just got our home transferred to them from Aurora Bank. Received 1 letter from Aurora on June 15, 2012 telling us of transfer but no statement, NO online access, nothing from Nationstar. Now they tell me we won't get any of those papers because I took business(corporation) bankrutcy 18 mos ago. We always had access before and knew where payments were going, escrow, etc. How can this company deny someone access to their own account figures? Something is going on that doesn't seem legal. Everyone who has mortgage and is denied access to the figures, PLEASE notify your representatives and TEXAS states attorney general ASAP.

Our house lender got transferred over to Nationstar Mortgage LLC. (TX) Called wanting to know why we have not gotten house payment. They can not send us a house payment or any paper work on our house. No payment book. We will not know if our house payment changes due to insurance going up or taxes! Can not get a account set up on line. Never missed a payment in 12 years. Not even late! Now they say we have to get a attorney to request any paper work on the house! WTF! SERIOUSLEY! We filed 13 BR. Held the house out side of the courts. Now they say they can not give us any information on our house! What is up with companies these days! I am hoping that our note on our house sells to some one else!

Almost word for word what is happening to me this very month.

nationstar returned my mortgage payments and then they called me saying why i didn't try to make mortgage payments, that its my fault if my house goes to foreclosure

And here come nationstar's idiots. Research "broken chain of title" for starters. Get an attorney and challenge your servicer!

Nationstar is a foreclosure shop. Pure and simple. They ARE setting homeowners up to default...doesn't matter if they are the ones causing it with losing/returning payments, messing with your escrow, made up fees (late or otherwise), their game is to put you into foreclosure and get your house.

Skip the legislative BS and go straight to an attorney. Class Action will not help, homeowners need to take their individual cases to court because each case is so unique, a Class Action cannot possibly address all issues in all cases that need to be addressed. Make them prove they have a legal right to even collect your mortgage payment. This entity is the last stop for distressed homeowners and they have no interest in working with the homeowner in any way shape or form. Go after them individually...make their lives hell!