Nationstar Mortgage, Spring Leaf Facing Unsettled Debt Class Action

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A class action filed in Georgia against Nationstar Mortgage LLC and Spring Leaf Financial Services claims the companies have illegally refused to mark the Security Deed of a plaintiff’s debt as satisfied of record. According to court documents, the plaintiff’s Deed to Secure Debt—a full legal title transfer from the loan borrower to the lender—was paid in full in 2006. Despite the loan being squared away, the plaintiff says, the companies wrongfully kept the deed marked as “pending of record.”

The proposed class seeks to cover anyone in Georgia who on or after August, 13, 2006 had a mortgage with Spring Leaf Financial Services serviced or owned by Nationstar Mortgage whose underlying Security Deed was not marked satisfied of record or canceled of record within 61 days of payment of the complete loan balance.