• Report: #242805

Complaint Review: 350Centex Home Equity, Aka Nationstar Mortgage LLC

  • Submitted: Sat, April 07, 2007
  • Updated: Sat, November 28, 2009

  • Reported By:Union City Pennsylvania
350Centex Home Equity, Aka Nationstar Mortgage LLC
350 Highland Drive Lewisville, Texas U.S.A.

Centex Home Equity, Aka Nationstar Mortgage350Centex Home Equity, Aka Nationstar Mortgage LLC CENTEX AKA NATIONSTAR - HELP NEEDED TO FILE AGAINST THEM BEFORE THEY COMPLETELY DESTROY EVERYONE CONNECTED TO THEM!!!!! Lewisville Texas

*Consumer Comment: Nationstar Mortgage Unlawful Practices


*Consumer Suggestion: Dear Carol: We believe May 2009 is cut-off date for Nationstar's License

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This is a copy of the letter that should be sent to every Attorney General in the country. Also it should be sent to many regulatory agencies and to a few media outlets.

You might want to do the same.

CENTEX Home Equity, now known as Nationstar Mortgage

Date of Complaint: ________________

Name of Complainant: _________________

Address of Complainant: ___________________

Telephone / Email of Complainant: ________________

Agency Complaint Filed With: ________________

Agency Address: ______________________________

Dear Madam or Sir:

This complaint is being filed with your agency regarding my personal experiences with Centex Home Equity. The complained of company now services mortgage loans, and, I believe, that their wrongful, deceptive, unfair and/or fraudulent business practices are very negatively impacting the lives of scores-of-thousands of American families, most of which families are comprised of the working poor, ethnic minorities, and retired taxpayers.

The complained of wrongful, deceptive, unfair and/or fraudulent business practices that I believe Centex has perpetrated against me and my family are those that I have placed a checkmark [ X ] above within the following list of allegations, which allegations have, thus far, been widely alleged against Centex
[ ]
I believe that Centex modifies, especially loan applications, after a consumer applies for a loan to make such documents conform to the financial instruments Centex "induces" the consumer/home owner to sign without the consumer's knowledge until after the closing of the transaction.

[ ]
I believe that Centex does not provide the consumer/borrower with conformed copies of the legal and financial documents that it prepares on a timely basis, if at all, prior to or after the consummation of the transaction in conformance with good business practices and federal and state consumer protection laws. It is only after difficulties arise during the loan servicing and when a consumer is defending through the legal system an unjustified mortgage foreclosure proceeding by Centex that Centex will produce various documents containing provisions unknown to the consumer prior to the consummation of the loan.
[ ]
Centex does not properly advise the consumer of its available loan programs and manufactures loan documents favorable only to Centex without the consumer's knowledge and, basically, gives the consumer no options and fails to give the consumer proper disclosures pursuant to both the federal and state consumer protections laws and regulations.
[ ]
Centex I believe inflates appraisals at the time of a consumer's loan application in order to strip the home owner of his/her equity in the property.
[ ]
Centex, I believe, fails to apply mortgage payments upon receipt, and/or in a timely manner. Such payments are continually posted late in order to facilitate the company's ability to profit by wrongfully/fraudulently applying "late fees."

[ ]
Centex, I believe, continually applies borrowers' mortgage payments first to "corporate fees," then to "principal and interest," which practice is contrary to the terms of most of the "serviced" mortgages and notes.
[ ]
Centex, I believe, further continuously applies borrowers' mortgage payments to illegal "suspense accounts" (in violation of the financial contracts that Centex constructs and in violation of consumer protection and lending laws and regulations) that are set up by Centex and Centex, in a fiduciary capacity, applies such payments to "manufactured" and unauthorized and unwarranted fees designed to provide additional profit for Centex creating a default balance against borrowers/consumers in order to perpetrate foreclosure proceedings against property owners.

[ ]
Centex, I believe, continually intercepts, diverts and misapplies borrowers' funds that are specifically designated to be placed into an "escrow account," which

This report was posted on Ripoff Report on 04/07/2007 07:33 AM and is a permanent record located here: http://www.ripoffreport.com/r/350Centex-Home-Equity-Aka-Nationstar-Mortgage-LLC/Lewisville-Texas-75067/Centex-Home-Equity-Aka-Nationstar-Mortgage350Centex-Home-Equity-Aka-Nationstar-Mortgage-242805. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 Consumer Comment

Nationstar Mortgage Unlawful Practices

AUTHOR: Tannette Gates - (United States of America)

Nationstar Mortgage is my lender.  I want to be a part of any lawsuit or complaint filed against this company.

I filed Chapter 13 bankruptcy to save my home.  Nationstar obtained an Order Granting Motion for Relief from Stay.  The judge added an Adequate Protection Statement which included specific and detailed orders Nationstar was required to follow.  Nationstar has blatently and consistently disregarded the Adequate Protection Statement and is attempting to foreclosure again even though monthly payments have been made.

Does anyone have any new information on whether Nationstar has or will lose their license?

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#2 Author of original report


AUTHOR: Carol - (U.S.A.)

I am responding to the individual who left a comment at this post advising that Centex/Nationstar would be losing its license in May, 2009.

I did some searching and could find absolutely nothing to substantiate that. It is now July and,from all that I can see, Centex/Nationstar is still in business.

Would you be able to provide some evidence regarding the fact that Centex/Nationstar is losing its license?

I have found many articles and do know that the government is or has given them money to do these loan modification agreements with the customers they do have. I also found information that they are not giving out any new loans. Surprise, surprise, eh?

At any rate, it would be appreciated if you could provide that information. I could comment further, but will not at this time about Centex/Nationstar. All I know is that they did not sell to Nationstar. They simply changed their name to Nationstar and kept the same "employees" they had under the name of Centex.

They are very anxious to do loan modification agreements with the customers they have "duped" and if anyone has any comments on that, I would be interested in reading them.

Has anyone ever actually used the form letter previously posted in order to help the poor debtors/consumers such as us in order to receive some sort of compensation for the consumer protection laws that were violated by this company? It seems everyone complains, but no one actually tries to "join together"...if we don't "hang" together, they will "hang" us separately.
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#3 Consumer Suggestion

Dear Carol: We believe May 2009 is cut-off date for Nationstar's License

AUTHOR: Miss Guardian - (U.S.A.)

Dear Carol: You do not say if you are in foreclosure or not! But if you are, listen up! We discovered information through Banking & Finanace, Magazine articles & newspaper clippings that it is alleged that Nationstar's Mortgage shall have their licensing stripped in May 2009 but however, please bear in mind that one can not believe everything they read. Therefore, can all of these sources be wrong??? You must decide! Reseach will serve you well! God Bless You!
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