Nationstar Mortgage Holding’s actions have come into question lately after being asked to halt all foreclosures in 23 states by four attorney generals. According to the Wall Street Journal, they resumed foreclosure proceedings after an internal review of its practices, according to a new bond prospectus filed by the firm.
“The company received the request from authorities for the foreclosure halt in October 2010, though it was not known how long the halt lasted or when the procedures resumed.” –Nationstar spokesman
There is also no sign from Nationstar that they will change any of their practices as of a result from the review.
Inquiries, court backlogs, and growing court procedures could cause extended delays in foreclosure proceedings. They could also potentially increase the firm’s costs, said the Lewisville, Texas company which handles administrative duties on more than 1.8 million home loans.
Threats from the New York attorney general charge other banks for not complying with the terms of a $25 billion foreclosure-abuse settlement in 2012. This pact was created to address wrongs such as “robosigning,” a practice in which firms and banks certify legal documents without following laws.
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