COOP - Mr. Cooper to pay $28.6M to resolve probes by CFPB state attorneys general

Mr. Cooper ([[COOP]] +0.7%) resolves certain legacy regulatory matters with the Consumer Financial Protection Bureau, the multi-state committee of mortgage banking regulators, and various state attorneys general, and the Executive Office of the United States Trustee.The settlements include restitution the company provided to customers during the last six years. Additionally, COOP agreed to a resolution payment in the amount of $28.6M consisting of remediation, penalties and fees, which the company will make immediately after the judgment is recorded. COOP has previously accrued for all costs associated with the settlement.Nationstar Mortgage rebranded as Mr. Cooper in August 2017.The Bureau alleges that Nationstar violated multiple Federal consumer financial laws, causing substantial harm to the borrowers whose mortgage loans it serviced, including distressed homeowners.The proposed judgment and order, if entered by the court, would require Nationstar to pay ~$73M in redress to more than 40,000 harmed borrowers. It would also require Nationstar to

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Mr. Cooper to pay $28.6M to resolve probes by CFPB, state attorneys general