Joseph Smith, the monitor of the National Mortgage Settlement has reported that the five major banks have officially fulfilled the consumer relief obligations of the National Mortgage Settlement. He further reported that the banks have provided more than $50 billion of gross relief, which allegedly equates to more than $20 billion in credited relief. Smith … [Read more…]
Arizona will receive $1.6 billion of the purported $25 billion joint federal-state settlement with the nation’s five largest mortgage servicers for their role in wide-spread servicer and foreclosure abuses. Arizona Attorney General Tom Horne’s decision to join the broad settlement also means that his office has reached an agreement with Bank of America over allegations … [Read more…]
Anyone who has been involved in dealing with banks in the realm of loan modification have come to accept (at least at some level) that banks move with glacial speed. Well, for those with a high credit score who actually just want to close a loan – this may be the way to go…..