|[March 20, 2017]
Robbins Arroyo LLP Is Investigating the Officers and Directors of Nationstar Mortgage Holdings Inc. (NSM) on Behalf of Shareholders
Shareholder rights law firm Robbins Arroyo LLP is investigating
whether certain officers and directors of Nationstar Mortgage Holdings
Inc. (NYSE: NSM) breached their fiduciary duties to shareholders by
reporting inaccurate mortgage loan data. Nationstar provides servicing,
origination, and transaction based services primarily to single-family
residences in the United States.
View this press release on the firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/nationstar-mortgage-holdings-inc
Nationstar Faces $1.75 Million Penalty for Reporting Errors
On March 15, 2017, the Consumer Financial Protection Bureau ("CFPB")
ordered Nationstar to pay a $1.75 million civil penalty for violating
the Home Mortgage Disclosure Act ("HMDA") by failing to report accurate
data about mortgage transactions from 2012 through 2014. Nationstar must
also take the necessary steps to improve its compliance management to
prevent future violations, and review, correct and make available its
corrected HMDA data from 2012-2014. Through its supervision process, the
CFPB found that Nationstar's HMDA compliance systems were flawed and
generated mortgage lending data with significant, preventable errors.
Further, the company failed to maintain detailed HMDA data collection
and validation procedures and produced discrepancies by failing to
consistently define data among its lines of business.
Nationstar Shareholders Have Legal Options
Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Darnell R. Donahue at
(800) 350-6003, DDonahue@robbinsarroyo.com,
or via the shareholder
information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170320006306/en/
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