Three Banks Meet Standards of Mortgage Settlement

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Three Banks Meet Standards of Mortgage Settlement

Three Banks Meet Standards of Mortgage Settlement

Wonder how they cured all the forged documents and the ownership of the notes?

 

NASDAQ-

Three of the largest U.S. mortgage servicers have rectified failures to comply with parts of a $25 billion landmark national mortgage settlement, the watchdog overseeing the process said Wednesday.

Bank of America Corp., J.P. Morgan Chase & Co. and Citigroup Inc. passed all tests reviewing their compliance with the National Mortgage Settlement during the third and fourth quarters of last year, said the monitor for the settlement, Joseph A. Smith.

In December, Mr. Smith had released a report saying those banks had each failed at least two of 29 metrics that measure standards over how to provide relief to homeowners under threat of foreclosure. In total, the three banks failed on seven metrics in the first half of 2013.

[NASDAQ]

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