The Notice provides a summary of some, but not all, of the terms of the Settlement Agreement. Please visit the Important Documents page to see and obtain a copy of the entire Settlement Agreement. The Settlement Agreement must be approved by the Court and become “Final” before any payments or other benefits are given.

The key terms of the proposed Settlement are as follows:

• Defendants will automatically pay each member of the Collection Letter Subclass $150 .
• Defendants will automatically refund to each member of the Collection Letter Subclass any amounts paid to Veripro on the loan after a Collection Letter was sent.
• Defendants agree to make no further attempts to collect on the loans of the qualifying members of both Subclasses and will not sell or assign those accounts to any third party.
• If you qualify under the Settlement, Nationstar will submit requests to the credit bureaus to update the reporting of your loan to reflect a zero current balance and zero amount past due. Depending on your circumstances, this may improve your credit score. However, unless you are a member of the Collection Letter Subclass and your loan was previously serviced by Nationstar, you must qualify for and request this update by filling out and timely submitting the accompanying Claim Form. If you do not timely submit a completed Claim Form, Nationstar will not request any credit reporting change for you, even though you will still be bound by the terms of the Settlement.
• You give up all of your claims against Nationstar, Veripro, their corporate affiliates, and personnel based on the Collection Letters and credit reporting at issue in this case. All of those claims will be released, which means that you will not be able to continue any lawsuit and to initiate any future lawsuit on those claims.
• Class Counsel will apply to the Court for an award of attorney’s fees and expenses of litigation of up to $390,000. The Court will determine the amount of any such award.
• Class Counsel will apply for service awards for each of the two Class Representatives in the amount of $5,000 each. The Court will determine the amount of any such award.

If you are not a member of the Collection Letter Subclass or your loan was not previously serviced by Nationstar, you must submit the Claim Form in order to determine whether you qualify for the updates to your credit report under the proposed Settlement. If you qualify for credit reporting changes, Defendants also agree to make no further attempts to collect on your loan and will not sell or assign those accounts to any third party. If you do not timely submit a completed Claim, your credit report will not be updated and you will still be bound by the terms of the Settlement. This means you forfeit your right to sue Defendants in the future about the claims at issue in this lawsuit.

If you are a Credit Reporting Subclass Member, the deadline to file a Claim Form was March 10, 2022 and has passed.

If the Court grants final approval of the Settlement, Nationstar will, for all Collection Letter Subclass Members and Credit Reporting Members, request that the credit reporting agencies to which it reports update their reporting as follows if all such accounts to current outstanding loan balance and current amount past due of zero dollars,  if your Nationstar account continues to appear on your credit reports.  This may improve your credit score, depending on your circumstances.  The specific information that Nationstar will report is as follows: 

• For Credit Reporting Subclass Members whose properties were sold at foreclosure sales, Nationstar will agree to report such loans with an Account Status of 97 and a current outstanding loan balance and current amount past due of zero dollars.
• For Credit Reporting Subclass Members whose properties were sold at short sales, Nationstar will request that the loans be reported in accordance with FAQ 53 of the Credit Reporting Resources Guide. Specifically, Nationstar will request that such loans be reported with Account Status of either 13 or 65 as appropriate under the Guide, Special Comment Code AU, and a current outstanding loan balance and current amount past due of zero dollars.

If you remain in the Settlement Class, you give up your right to sue in court or arbitration or be part of any other lawsuit or arbitration against Defendants or their affiliates based on any of the Collection Letters and/or the credit reporting qualifying you for Class membership. 

The deadline to exclude yourself from the Settlement was March 10, 2022 and has now passed.

The deadline to object to the Settlement was March 10, 2022 and has now passed. 

The Court will hold a Final Approval Hearing on April 21, 2022, at 10:00 a.m., in Courtroom 11 of the United States District Court for the Northern District of California, the Honorable James Donato presiding, located at 450 Golden Gate Avenue, 19th Floor, San Francisco, California 94102. The Final Approval Hearing may take place by Zoom or other video technology due to the COVID-19 emergency.

The date of the Final Approval Hearing may change, so please refer to this website for any updates and/or on the Court’s website, https://apps.cand.uscourts.gov/telhrg/, to confirm the date and time of the Final Approval Hearing and how to attend the hearing remotely. At the Final Approval Hearing, the Court will consider if: (1) the Settlement is fair, reasonable, and adequate; (2) The Settlement should be approved; (3) any objections to the Settlement and, if so, whether those are valid; (4) the amount of any Service Award for the Class Representatives; and (5) the amount of any attorney’s fees and costs award for Class Counsel.

Your attendance at the Final Approval Hearing is not required. However, you or your attorney may attend the hearing at your own expense. At this time, the Court has conducted all civil motion hearings remotely. Check the Court website a few days before the scheduled hearing to see if you can view or listen to the hearing remotely, https://apps.cand.uscourts.gov/telhrg/. You may also contact Class Counsel for information as set forth in FAQ 12 below.

Yes. The Court appointed the Kemnitzer Barron & Krieg LLP and Housing and Economic Rights Advocates to represent you and the other Settlement Class Members. They are called “Class Counsel.” You will not be charged for their services.

You do not need to hire your own lawyer because Class Counsel is working on your behalf. However, you may hire an attorney at your own expense to represent you and speak on your behalf.

Class Counsel may apply to the Court for an award of Attorneys’ Fees and Expenses not to exceed $390,000 for all services provided on behalf of the Class Representatives and the Settlement Class. Any amount awarded will be paid separately by Defendants and will not reduce your benefits under the settlement. The Court will determine the amount of the award.

You can view and download Class Counsel’s fee request on the Important Documents page.

Class Counsel will apply to the Court for a Service Award for each of the two Class Representatives, not to exceed five thousand dollars ($5,000) per Class Representative, in recognition of their service to the Class, in addition to any other relief to which they are entitled as a Settlement Class Member. Any amount awarded will be paid separately by Defendants and will not reduce your benefits under the settlement. The Court will determine the amount of the award.

If you have questions, you may obtain more information as follows:

• Visit the Important Documents page. You can view and download complete copies of the Settlement Agreement and other relevant court filings, in addition to the Notice, Claim Form, and Exclusion Request Form.
• Call the Interactive Voice Recognition information line at 1-833-667-1229.
• Contact Class Counsel at yes@yesquire.com or (866) 576-4999.
• Access the Court docket in this case, for a fee, through the Court’s Public Access to Court Electronic Records (PACER) system at https://ecf.cand.uscourts.gov, or by visiting the office of the Clerk of the Court for the United States District Court for the Northern District of California, 450 Golden Gate Avenue, San Francisco, CA 94102, between 9:00 a.m. and 1:00 p.m., Monday through Friday, excluding Court holidays.