National mortgage settlement provides $45 billion in homeowner relief

“Checks totaling 1.5 billion in compensation from five top U.S. lenders in the National Mortgage Settlement “are expected to be mailed mid-2013,” according a timetable that has been changed three times in as many weeks by administrators of the $25 billion,

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National mortgage settlement provides $45 billion in homeowner relief. February 21, 2013. Christina Mlynski. Almost one year after the national mortgage settlement, 550,000 homeowners received.

WASHINGTON – The nation’s largest mortgage servicers have distributed $45.83 billion in direct relief to over 550,000 homeowners, or roughly $82,000 per homeowner as part of the National Mortgage Settlement, according to a progress report released today by independent settlement monitor Joseph A. Smith of the Office of Mortgage Settlement.

Because of the settlement, banks cut the size of mortgage balances, modified loans and allowed homeowners. to provide relief early, so borrowers who were in trouble got help within 18 months of the.

The national mortgage settlement has the following key components: $5 billion in cash.. relief provided to homeowners will be greater than $20 billion. By some.. by servicer; $.45 credit if paid by non-GSE investor.

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Kentucky Attorney General Jack Conway has announced that the nation’s five largest mortgage servicers continue to provide direct relief to homeowners in Kentucky as part of the historic national.

North Carolina Attorney General Roy Cooper announced Friday that $23.5 million in financial relief will be distributed to roughly 1,400 North Carolina homeowners. settlement with Ocwen Financial as.

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More than $45 billion has been distributed to more than 550,000 households – roughly $82,000 each – as part of an agreement with mortgage companies over servicing and foreclosure abuses.

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