Big banks close to satisfying obligations under mortgage settlement, report says

The nation’s largest banks have almost met their obligations to provide relief to struggling homeowners under the $25 billion national mortgage settlement, even as government officials question the way some institutions have handled the process.

On Wednesday, the court-
appointed monitor of the settlement said Bank of America, JPMorgan Chase, Wells Fargo and Citigroup were more than halfway done with their requirements to offer borrowers aid in the form of loan forgiveness, short sales, forbearance or refinancing….read more

 

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