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N.C. reaches settlements against Nationstar, Dish Network

N.C. reaches settlements against Nationstar, Dish Network

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The N.C. Attorney General’s Office said Monday it has reached settlements involving Nationstar Mortgage and Dish Network.

The settlement involving Nationstar, the nation’s fourth-largest mortgage servicer, will provide a combined $1.94 million for 1,938 borrowers. The overall national settlement is worth $86.3 million.

Affected borrowers will receive guaranteed minimum payments based on the damages they experienced. A third-party settlement administrator will send a claim form to eligible borrowers to help them file claims and receive their payments.

The settlement resolves allegations that Nationstar, which does business as “Mr. Cooper,” violated consumer protection laws during its servicing of mortgage loans from Jan. 1, 2011, to Dec. 31, 2017.

North Carolina will receive just under $14 million from a $210 million national settlement with Dish. The company was accused of engaging in illegal nationwide telemarking in violation of do-not-call laws.

The attorney general’s office said it is the largest penalty ever obtained in N.C. over do-not-call violations. Most of the funds will go to North Carolina’s public schools.

Richard Craver

Truist Insurance makes acquisitions

Truist Insurance Holdings Inc. said Monday it expects to complete five insurance acquisitions this quarter, adding more than $100 million of combined annual revenue to its wholesale division.

The most recent transaction involves Wellington Risk Holdings Inc., which operates as a managing general agent in the admitted residential property markets.

Wellington will retain its brand, but will be combined with AmRisc, Truist Insurance’s managing general agent which underwrites catastrophe and specialty insurance for commercial property.

The three previously closed transactions this quarter are: W. Brown & Associates Property & Casualty, an Irvine, Calif.-based surplus lines broker and MGA; Specialty Risk Associates, a Shreveport, La.-based surplus lines broker and MGA; and Program Insurance Management of Sarasota, a Sarasota, Fla.-based managing general underwriter with specialized programs for industrial chemical manufacturers and distributors.

Truist Insurance projects completing by year’s end a deal with Fidelis Group Holdings, a Covington, La.,-based provider of specialty insurance products for the marine and cargo industries.

Truist Insurance is the sixth largest insurance broker in the U.S. It operates more than 250 offices through its subsidiaries:

Richard Craver

Winston-Salem group buys two tracts in Greensboro

A Winston-Salem real-estate investment group has spent a combined $1.88 million to purchase two tracts off Youngs Mill Road in Greensboro, according to a Guilford County Register of Deeds filing Friday.

The buyer is Youngs Mill Industrial Partners LLC, an affiliate of Williams Development Group.

The group paid $1.28 million for a 22.56-acre site at 1812 Youngs Mill Road, as well as just under $600,000 for a 10.38-acre site at 1818 Youngs Mill Road.

The sellers of the 1812 Youngs Mill property are Tommy and Rebecca Morrison and Joe and Jan Morrison. The sellers of the 1818 Youngs Mill property are Joe and Jan Morrison.

Richard Craver

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