The New York Appellate Division, First Department earlier this week held that Nationstar Mortgage LLC was indeed entitled to indemnification for losses from Generation Mortgage Company and Guggenheim Partners, LLC under the terms of a 2015 purchase agreement, in which Nationstar acquired the servicing rights for tens of thousands of reverse mortgage loans. There has been media coverage and you view reports below.
"Court Rules in Favor of Nationstar in Reverse Mortgage Servicing Portfolio DisputeReverse Mortgage Daily," Reverse Mortgage Daily, (02/22/2021)
"A dispute arising out of a 2015 purchasing agreement where Nationstar Mortgage acquired the reverse mortgage servicing portfolio of former reverse mortgage lender Generation Mortgage has been decided in favor of Nationstar, which has sought indemnification from Generation over certain losses on the purchased servicing portfolio. This is according to court documents obtained by RMD."