Homeowners Seek OK Of Nationstar Deal In Mortgage Tax Suit

Law360 (August 14, 2019, 8:21 PM EDT) -- A proposed class of homeowners has asked a California federal court to preliminarily approve a deal to resolve claims the mortgage company formerly known as Nationstar failed to accurately report information the members needed to claim a mortgage tax credit.

The deal, hammered out in May, would require Nationstar, now known as Mr. Cooper, to provide amended tax returns or monetary payments to homeowners as a result of incorrectly reporting the capitalized interest to the Internal Revenue Service, according to a motion filed Tuesday. That error deprived class members of the mortgage interest deduction's full benefit, the motion said.

“The settlement offers...

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