Do you own a mortgage borrower bank account? Did you receive an incorrect automated clearing house, or ACH, entries from Nationstar? Did you receive a mail about a class action on the settlement to resolve claims it sent incorrect automated clearing house, or ACH, entries to mortgage borrower bank accounts in April 2021? This review will help you partake in the class action settlement.
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What Is Nationstar ACH $5M Class Action Settlement?
In April 2021, mortgage borrowers with loans serviced by Nationstar allegedly experienced incorrect ACH debit and credit entries on their bank accounts. These inaccurate entries allegedly caused consumers to overpay on their mortgages and sustain other financial damages.
Nationstar agreed to a $5 million litigation settlement to resolve claims it sent incorrect automated clearing house, or ACH, entries to mortgage borrower bank accounts in April 2021. The name of the case is Dugan, et al. v. Nationstar Mortgage LLC, et al., Case No. 1:21-CV-00341, in the U.S. District Court for the Middle District of North Carolina.
What Is This Class Action All About?
Nationstar and ACI haven’t admitted any wrongdoing but agreed to a $5 million class action lawsuit settlement to resolve the ACH claims.
Under the terms of the ACH settlement, class members can receive a cash payment. The settlement guarantees payments of at least $100 for all class members but allows claimants to seek additional compensation for unreimbursed out-of-pocket expenses they sustained as a result of the ACH incident.
Class members whose overpayment was already reimbursed may have their payments reduced. The $100 payments may also be reduced depending on the number of approved claims.
Who Is Eligible?
The settlement benefits consumers whose mortgages were or are serviced by Nationstar and who were affected by the incorrect ACH debit and credit entries sent April 23, 2021.
How To Be Part of This Settlement
In order to receive settlement benefits, class members must submit a valid claim form by Nov. 13, 2023. The deadline for exclusion and objection is April 29, 2023. The settlement website is ACHLoanPaymentLitigation.com
What Is The Pay For This Settlement?
The pay for this settlement varies and the proof of purchase is the documentation of out-of-pocket expenses.
In addition to providing cash payments, Nationstar and ACI agreed to forgive any entitlement they may have to recover from class members. This includes $2.86 million in overpayments and around $190,000 in damages.
As you submit your claim to the settlement website ACHLoanPaymentLitigation.com, just like Hinduja Global Solutions overtime class action settlement we have reviewed , you’re doing so under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. The final approval hearing for the ACH settlement is scheduled for May 31, 2023.