Tuesday, May 21, 2013
National Mortgage Settlement Provides Relief for more than 620,000 Homeowners, Including Vinel Cooper in Pennsylvania
The nation’s largest mortgage servicers have distributed $50.63 billion in direct relief to over 620,000 homeowners, or roughly $81,000 per homeowner as part of the National Mortgage Settlement, according to a progress update released today by independent settlement monitor Joseph A. Smith of the Office of Mortgage Settlement Oversight. Over one year ago, the Department of Justice, Department of Housing Urban Development (HUD) and 49 state attorneys general reached a landmark agreement with the nation’s five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses.
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