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Seterus is no longer operating. On Feb. 28, 2019, after the relevant period covered by the Bureau's investigation, Seterus was sold and its entire mortgage servicing portfolio was transferred to Nationstar Mortgage LLC, doing business as Mr. Cooper.
On September 26, 2008, JPMorgan Chase acquired financial services company Mr. Cooper Group for 1.9B USD.
Cooper completes acquisition of IBM's Seterus mortgage servicing platform. Mr. Cooper Group (the company formerly known as Nationstar) revealed this week that it completed its acquisition of IBM's Seterus mortgage servicing platform in a deal that will add 300,000 new customers to Mr. Cooper's servicing portfolio.
Seterus is no longer operating. On Feb. 28, 2019, after the relevant period covered by the Bureau's investigation, Seterus was sold and its entire mortgage servicing portfolio was transferred to Nationstar Mortgage LLC, doing business as Mr. Cooper.
Company behind Mr. Cooper mortgage servicer, Nationstar, agrees to $91 million settlement - The Washington Post.
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Cooper overview. Mr. Cooper is a non-bank mortgage originator and servicer that operates throughout the U.S. The lender, formerly Nationstar, was founded in 1994 and is headquartered in Coppell, Texas.
Since the majority of Mr. Cooper loans are owned by Fannie Mae or Freddie Mac, there's a good chance your loan is owned by one of these investors: Click here to see if your loan is owned by Fannie Mae.
The home loans Mr. Cooper offers include: Conventional loans: You'll likely need a credit score of 620 or higher and a down payment of at least 5% to get a conventional loan with Mr. Cooper.
Nationstar Mortgage, which rebranded as \u201cMr. Cooper,\u201d agreed to a $91 million settlement this week for allegedly violating consumer protection laws after the Great Recession. The case could serve as a warning to companies that prey on borrowers during the pandemic.
On February 28, 2019, Nationstar Mortgage LLC, a Delaware limited liability company and an indirectly held, wholly-owned subsidiary of Mr. Cooper Group Inc., completed the previously-announced acquisition of the Seterus mortgage servicing platform and assumed certain assets related thereto from IBM.

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