New $8.5 Billion Settlement between Federal Regulators and 10 Banks for Home Foreclosure Abuses
3.8 million people whose homes were in foreclosure in 2009 and 2010 will receive $3.3 billion in cash, plus another $5.2 billion in other help.
regulation of banks
Independent Monitor Releases 1st Report on the Bank’s Compliance with the National Mortgage Settlement
This report provides tons of accessible information, lots of clear graphics. Includes a detailed timetable, and state-by-state compliance data.
State Sued for Diverting $50 Million from its Foreclosure Settlement Fund
The state with the highest foreclosure rate, Arizona, is being sued for violating the settlement’s federal consent judgment by not using the funds for helping homeowners.
Some States Are Not Using Their Foreclosure Settlement Funds to Help Homeowners
States recently received $2.5 billion from the major banks for foreclosure prevention and related help for homeowners. But much of that is not being used for those purposes.