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Joint State-Federal Mortgage Servicing Settlement

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Updated: 5/03/2012 2:36 pm
After many months of negotiation, 49 state attorneys general and the federal government have reached agreement on a historic joint state-federal settlement with the country’s five largest loan servicers: Ally/GMAC; Bank of America; Citi; JPMorgan Chase; and Wells Fargo.

This bipartisan settlement will provide as much as $25 billion in Relief to distressed borrowers in the states who signed on to the settlement; and direct payments to signing states and the federal government.

It’s the largest consumer financial protection settlement in U.S. history.

Through July, homeowners also can call (888) 952–9105 if they believe they were wrongly served with foreclosure notices.

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