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Texas-based Mr. Cooper, which is the largest U.S. non-bank
mortgage servicer, announced an unauthorized April 24 discovery
of duplicate-payment drafts from some of its borrowers' bank
accounts in a blog post, adding that it was working on reversing
what it called a "payment-processing issue."
"The CFPB is taking immediate action to understand and resolve
the situation that has affected hundreds of thousands of
consumers. The CFPB will use all appropriate tools at our
disposal to help ensure harmed consumers receive relief," Dave
Uejio, CFPB acting director, said in a statement.
The firm said in the post that "all duplicate transaction
requests have been stopped. Any impacted customers will not be
responsible for any fees or other negative financial impact this
may have caused."
The drafts did not affect all customers and reflected an
unidentified vendor's error. An investigation found there were
no signs of system infiltration or hacking, it said.
While some affected customers received payment reversals over
the weekend, others could expect payments or reversals to be
reflected by Tuesday, the firm said.
The watchdog's response comes amid ongoing scrutiny of mortgage
firms in fear of a looming COVID-related foreclosure crisis,
Reuters reported last week.
(Reporting by Katanga Johnson; Editing by Dan Grebler)
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