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New York DFS fines Nationstar
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Regulatory Updates
Monday, April 16, 2018
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The New York Department of Financial Services (DFS) has fined Nationstar Mortgage LLC $5 million for violations of state banking, stemming from the company’s failure to develop effective, scalable controls that could keep pace with its rapid growth. As a result of DFS examinations, Nationstar has made restitution of $7 million to New York borrowers. Read on for more details.
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