DALLAS, TX (September 27, 2018) – Today, Nationstar Mortgage LLC (“Nationstar” or the “Company”), the operating company of WMIH Corp. (NASDAQ: WMIH), issued the following statement regarding a settlement with the Florida Office of the Attorney General concerning disaster forbearance plans for customers impacted by Hurricane Irma.
“Our customers are our top priority, and we’re proud to have helped nearly 19,500 customers in Florida find solutions to provide immediate relief during this difficult time,” said Jay Bray, chairman and CEO of WMIH Corp. “In some cases, we fell short of delivering the high-level of service we aim to provide, and the communication some of our customers received was less than perfect. For those customers who were confused or misunderstood the terms of their forbearance plan, we are committed to making things right with them.”
Under the terms of the agreement, Nationstar will pay $300,000 to the Florida Office of the Attorney General for investigation costs to resolve this matter. While the company did not violate any laws, as a gesture of goodwill we will provide $350 in remediation to each of the approximately 100 customers that may have been impacted.
We want to ensure our customers understand their options in the aftermath of natural disasters, so we are working to strengthen our communications. In addition, we’re dedicated to finding better solutions for our customers, and will continue to work side-by-side with our industry partners to explore new ways to support those impacted by natural disasters.
About WMIH Corp.
WMIH Corp. (NASDAQ: WMIH), formerly known as Washington Mutual, Inc., operations consist primarily of Nationstar Mortgage, which provides quality servicing, origination and transaction-based services related principally to single-family residences throughout the United States. Nationstar is a recognized leader in the mortgage industry with more than two decades of experience, and with its flagship brand, Mr. Cooper®, is one of the largest mortgage servicers in the country. A subsidiary of WMIH also operates a legacy reinsurance business in runoff mode. Additional information regarding WMIH may be found at www.wmih-corp.com.