robosigning settlement: $25 billion Robo-Signing Agreement Made - 02/09/12 03:54 PM

 An announcement was made this morning by Federal and state officials, 49 state attorneys and the federal government have agreed on a $25 billion settlement with the nation’s five largest mortgage servicers in regards to what was known as “loan servicing and foreclosure abuse”. Evidence of robo-signing began to show in 2010 during a high number of foreclosures.
These five banks include: Wells Fargo, Bank of America, JPMorgan Chase, Ally Financial and Citigroup. An estimated $17 billion of the $25 billion will go towards mortgage principals for nearly 850,000 borrowers, $3 billion may go towards restitution payments, meaning $1,500 for … (0 comments)

 
Mike Linkenauger, Short Sale Specialist Network

Mike Linkenauger

Short Sale Specialist Network

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