What is really going on with one of the largest and  most established mortgage companies in the country? Did you read that? One of the largest and most established mortgage companies in the country. Yes, Mr. Cooper, the pusher of predatory lending practices that, according to multiple press releases, has been charged for what is called in the Biblical days as usury. It is the blatant robbing the poor of their most expensive assets, their homes. Many of them are senior in their retirement years and they are now, after having been victimized by this seemingly unlawful company, suffering with an Adjustable Rate Mortgage (ARM) that many, whom I spoken with and others, I’ve read about are now facing potential foreclosures due to what appear to be willful intent to take properties away due to customers inability to pay the loan and the exorbitant fees that has been tacked on the monthly bills without any form of knowledge or consent on the part of the customers.

One Georgian customer reported to me that his loan has been transferred among the family of Nationstar, which includes Mr. Cooper, more than four times and each time the fees have increased and these fees are in excess of the regular fees initially sign for by him.  One line item on the bill from Mr. Cooper were fees and charges totaling $1622.64 more per month which is more than the basic mortgage bill with acceptable and agreeable fees.  None of the fees and charges were broken down visibly indicating specific reasons for charges and the customer said that he had never received any other papers to show an explanation for the fees and charges. The customer is also a senior citizen and he is on a  fixed income.

He said he was initially paying, since 2005,  under $1,000 with an  ARM. The customer also said he has made requests for a modification under HUD rule and he was turned down when he fit the category for HUD requirements under the American Rescue Act from the Whitehouse to help homeowners stay in their homes. Mr. Cooper nor did any other affiliates associate provide their long time customer with an application for a modification. As the Georgian customers seek a modification, PACE NEWS, the Southern Truth, is calling on Mr. Cooper to do Truth and expedite the Georgian customer whose bill is currently with exorbitant fees up to $4500 a month. He, in order to live in his house in peace and to consider how good it is to have a home of your own that you actually own and not stolen in usury.

If Mr. Cooper is declared to be in charge of the amount of mortgages in the country, I beg to question why? Why is it that Mr. Cooper and its subsidiaries are allowed to run a corporation without  regulators and anti-violators agencies stopping the gangrene from rotting from inside out? Mr. Cooper’s negligence is hurting so many innocent people who only want simple living through homeownership without all the  unrighteous acts like usury. Why? The people deserves better and especially after this same corporation is the recipient of Wells Fargo Customers! See the message dated May 31, 2023, but just 6 months later on November 3, 2023, Mr. Cooper announced that it had been hit by hackers and loan customers personal data had been compromised.