Nationstar Sued Over Canceling $150M Loan Auction Deal

Law360, New York (July 30, 2013, 6:38 PM EDT) -- A unit of mortgage service Nationstar Mortgage Holdings Inc. was hit with a lawsuit in New York state court on Tuesday over a scrapped auction of residential loan pools backing certain securities, which Truman Capital Advisors LP says wrongfully killed a $150 million deal.

TCA is seeking $35 million in damages for the time and energy it put into winning several mortgage loan pools through an online auction that Nationstar Mortgage LLC conducted. The investment company contends it was notified that it had won $150 million...
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