Mr. Cooper To Pay $1.5 Million For Illegal Inspection Fees

Mr. Cooper Forced To Pay The State Of Maryland $1.5 Million Over Illegally Charged Inspection Fees

Mr. CooperMr.Cooper formerly known as Nationstar Mortgage will pay out more than $1.5 million to the state of Maryland. The state had accused the lender of illegally charged homeowners for inspection fees.
Maryland Attorney General Brian Frosh alleges Nationstar passed certain home inspection costs on to homeowners despite it being illegal to do so in the state.
Nationstar acting as a mortgage servicer orders inspections on properties when the borrower goes into default on their mortgage payments.
Maryland law prohibits passing the fees from these inspections on to the borrowers. Yet, Nationstar charged the inspection costs to borrowers until Jan. 1, 2014 on mortgages and until February 2016 for reverse mortgages.
Nationstar charged Maryland borrowers more than $1 million in improper fees.

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