Consumer complaint received 2015-08-06
Company: NATIONSTAR MORTGAGE LLC
State: CA
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
To whom it may concern, I 'm filing a complaint based on illegal loan modification practices and violations to the California Bill of Rights ; that I 've endured through two separate non-federal banking institutions. The first one being Aurora Loan Servicing, which had processed my loan for modification and had completed terms to new payments and recapitalization of past due amounts in XXXX. Just before being able to execute the agreement, our loan was sold and Aurora Loan Servicing acquisitioned to another no-bank named Nationstar Mortgage. 
I was very distraught, after having gone through a lengthy loss mitigation battle with Aurora Loan Servicing only to be shuffled over to a much similar banking institution and I 'd simply had enough. I filed litigation action against Aurora Loan Servicing, which was dismissed after 11 months. Once my litigation action was dismissed I was forced to reapply for another modification with Nationstar Mortgage. I was preapproved for an " interest only '' loan which would last for a duration of ( 2 XXXX years. I 'm certain that this offer was predatory in nature and would not be beneficial for our future. This offer yielded us no tangible net benefit in paying off an approximate balance of {$900000.00} owed for the property. There are also multiple accounting errors that relate directly to padded escrow, as well as unexplained surcharges, fees and costs. I refused to accept such a nonproductive loan modification to simply pay what might as well be considered " RENT '' to Nationstar Mortgage in order to keep our home. I feel that the loan modification was designed to further abuse myself as well as my life partner, XXXX XXXX XXXX whose name is present on the title. 
Exhibit A " Predatory loan modification offer '' Nationstar has intentionally placed our loan in jeopardy of foreclosure, because we filed litigation action on the loan and they are now being bias in their decisions while reviewing our loan for the best possible options to retaining our home. Their process is non-transparent and they are seeking to benefit only themselves based on the last offer extended to our family in XXXX XXXX, XXXX. This matter is extremely discouraging, especially due to the fact we earn a handsome income and have the ability to compete our obligations on what we owe on the loan. We are seeking an inquiry to be conducted from your office as a last measure for justice and fair treatment. This matter is urgent due to the pending sale date set for XXXX XXXX, XXXX. 
I 'm certain that after review of the above mentioned loan there will be several violations that are identified within the confines of the California Bill of Rights, surrounding transparency, and Net tangible benefit, failure to review all possible options under loss mitigation, as well as discrimination and bias unfair business practices. Nationstar Mortgage, has failed to explore any programs relevant to our situation on any level of making Homes Affordable Programs ( MHA ), In-house/Traditional Modification etc. 
We implore your office to execute swift action in order to possibly assist our family in retaining possession of our home here in California and avoid displacement at the hand of another non-bank servicers abusive, illegal ways of doing business.

Company response to consumer: Closed with explanation