National Mortgage Settlement
Approximately $25 billion in assistance for homeowners, the State of California, and the national government.
After intense negotiations, the California attorney general and 48 other state attorneys general in conjunction with the U.S. Government have come to an accord with the country’s five largest lenders:
- Bank of America
- JPMorgan Chase
- Wells Fargo
This settlement will offer approximately $25 billion in assistance to distraught homeowners and paid out to the government and to the states, making it the largest settlement involving several states in more than a decade.
The resolution addresses investigations determining that the nations leading loan servicers had regularly signed foreclosure documents in absence of a notary and without verifying the accuracy of the contained facts; practices which are both legal violations. The settlement benefits homeowners whose loans are owned and serviced by banks involved in the settlement.What you should do:
- About the Settlement: Educate yourself about the agreement, who it affects, and what you can do for your specific situation. Visit the state Attorney General’s website to learn more.
- Help for Borrowers: For California residents, please call Howard Law, P.C. for help understanding the settlement or if you need to enforce your rights under this settlement.
- News: Read the news to learn more about state-specific updates and changes.
For additional information, click here.
- USDOJ Filing News Release
- Ally/GMAC Consent Judgment
- Bank of America Consent Judgment
- Citi Consent Judgment
- JPMorgan Chase Consent Judgment
- Wells Fargo Consent Judgment
- Settlement Executive Summary
- Settlement Fact Sheet
- Benefits to Servicemembers and Veterans
- Servicing Standards Highlights
- Ally/GMAC: 800-766-4622
- Bank of America: 877-488-7814
- Citi: 866-272-4749
- JPMorgan Chase: 866-372-6901
- Wells Fargo: 800-288-3212
- State Attorneys General
- Conference of State Bank Supervisors
- United States Department of Justice
- U.S. Department of Housing and Urban Development
California residence, please call Howard Law, P.C. at 800.872.5925 if you need help understanding the settlement or if you need to enforce your rights under the settlement.