U.S. Lenders Provided More Than $10 Billion in Mortgage Aid

Categorized | STOP FORECLOSURE FRAUD

U.S. Lenders Provided More Than $10 Billion in Mortgage Aid

U.S. Lenders Provided More Than $10 Billion in Mortgage Aid

BUSINESS WEEK-

The five largest U.S. mortgage servicers say they have provided about $10.6 billion in relief to troubled borrowers under the terms of a $25 billion legal settlement over abusive foreclosure practices, according to a report released today by a court-appointed monitor.

Most of that aid, $8.7 billion, came in the form of short sales, according to the Office of Mortgage Settlement Oversight. Lenders including JPMorgan Chase & Co. (JPM), Wells Fargo & Co. (WFC), also forgave $749.4 million in mortgage debt.

“There’s some evidence from this report that the banks are beginning to do some significant work on consumer relief,” Joseph A. Smith Jr., the settlement monitor, said in a telephone interview. “I’m not declaring victory, but I do think we’ve made a solid start.”

[BUSINESS WEEK]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8610 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

One Response to “U.S. Lenders Provided More Than $10 Billion in Mortgage Aid”

  1. dani says:

    some bank might but bank of america does none of this
    base on recent reports

Trackbacks/Pingbacks


Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com
Kenneth Eric Trent, www.ForeclosureDestroyer.com

Archives