• Report: #327054

Complaint Review: Nationstar Mortgage, Centex

  • Submitted: Fri, April 18, 2008
  • Updated: Wed, June 11, 2008

  • Reported By:Northern VA Virginia
Nationstar Mortgage, Centex
PO Box 199400 Dallas, Texas U.S.A.
  • Phone: 800-306-9027
  • Web:
  • Category: Loans

Nationstar Mortgage, Centex Mortage lender theives that steal your money, don't return calls, false late fees Dallas Texas

*Consumer Comment: From someone in the industry

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We have continually been charged false late fees, even when payments are made on time or within the grace period. When questioned they can't defend their actions, yet do nothing to change or fix the situation. We estimate we've been overcharged more than $2500 in just a few years.

Our ARM started out as a $500 a month payment and is now well over $800 per month. As interest rates go down, or interest rate with Nationstar goes up. As mortgage values drop, our rates increase.

This company never returns phone calls or messages, and contacting them through their website is a total waste of time.

Buyer Beware... this company is out to rip you off.

Northern VA, Virginia

This report was posted on Ripoff Report on 04/18/2008 11:07 AM and is a permanent record located here: http://www.ripoffreport.com/r/Nationstar-Mortgage-Centex/Dallas-Texas-75219/Nationstar-Mortgage-Centex-Mortage-lender-theives-that-steal-your-money-dont-return-cal-327054. 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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#1 Consumer Comment

From someone in the industry

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

There have been a lot of complaints about Nationstar on here especially about the late payment fees.

Keep in mind that your adjustable rate is most likely not tied to the Prime rate (the one we see on the news when they talk about rates), but to the LIBOR which has nothing to do with the Prime rate. The news doesn't like to tell you this when they talk about mortgage relief when the Prime rate goes down because it pretty much means nothing for most mortgages. Very few ARMs are tied to the Prime rate.

Also, Nationstar bought that company from Centex about 2 years ago, so it's not actually a Centex company anymore, but rather a Fortress Investment Group company.

At least they seem to have shut their doors so to speak so this doesn't happen to others.

There seems to be something to this late fee thing though, get a good attorney to word a strong letter to them. That may get them to reverse the fees.
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