Nationstar Mortgage will pay a $1.75 million fine for failing to report accurate data about mortgage transactions for 2012 through 2014. The penalty is the largest brought under the Home Mortgage Disclosure Act, the Consumer Financial Protection Bureau said.
Nationstar had been on notice since 2011 for mortgage reporting problems, the bureau said. In addition to paying the penalty, the company is being required to improve its compliance management and prevent future violations.
“Financial institutions that violate the law repeatedly and substantially are not making serious enough efforts to report accurate information,” said Richard Cordray, director of the bureau.