CFPB Settlement Checks Sent to HECM Borrowers

Reverse mortgage borrowers whose loans were previously serviced by HUD’s servicing subcontractor NOVAD Management Consulting, LLC may receive a reimbursement check in the mail resulting from a lawsuit brought by the Consumer Financial Protection Bureau in 2024.

In June 2024, the CPFB issued an order to permanently ban Sutherland Global Services and its subsidiaries Sutherland Government Solutions, Sutherland Mortgage Services and NOVAD from servicing reverse mortgages and to pay $11.5 million in restitution to reverse mortgage borrowers harmed by the company’s activities.

The CFPB has contracted with Rust Consulting to administer payments for this case and answer consumers’ questions.

For questions related to this case, please:

Call: 1-800-731-9353 (toll-free)
Email: [email protected]

Write: CFPB v Sutherland
P.O. Box 2561
Faribault, MN 55021-9561

Published by

Darryl Hicks

Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News. View all posts by Darryl Hicks