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Oversight and Legal Enforcement of the National Mortgage Settlement


In Autumn 2010, all 50 state attorneys general, the attorney general for the District of Columbia, the Conference of State Bank Supervisors, the U.S. Department of Justice (DOJ), the U.S. Department of Housing and Urban Development (HUD), and the U.S. Department of the Treasury (Treasury Department) initiated an investigation into foreclosure-related state and federal law violations by the nation's top five mortgage servicers: Ally Financial, Inc. (formerly GMAC, Inc.); Bank of America, Corp.; Citigroup, Inc.; JP Morgan Chase & Co.; and Wells Fargo & Co. On February 8, 2012, these state and federal officials, with the exception of Oklahoma's attorney general, announced a "National Mortgage Settlement" of certain legal claims with these five institutions. The settlement is to result in the servicers providing about $25 billion of relief, primarily to homeowners and individuals who recently lost their homes through foreclosure. In financial terms, it constitutes the second largest legal settlement ever reached by the attorneys general, behind only the 1998 settlement with tobacco companies.


THE DOCUMENT INCLUDES FOLLOWING FILES:
# FILE NAME Document Date Order ID: Number of Pages PRICE
1 R42919.pdf Jan 09, 2013 R42919 15 $29.95 ADD TO CART

Older Versions:

Oversight and Legal Enforcement of the National Mortgage Settlement  [Order No: R42919  Release Date: Jan 09,2013  Pages: 15]