Mortgage foreclosure settlement reached

    Ten major mortgage servicers including Bank of America, JP Morgan Chase, Citigroup and Wells Fargo entered into a $8.5 billion settlement Monday with federal regulators to settle claims related to mortgage foreclosure abuses. Under the terms of the settlement with the Federal Reserve and the Office of the Comptroller of the Currency (OCC), $3.3 billion will be paid by banks directly to eligible mortgage borrowers.  Over $5.2 billion in other assistance – such as loan | Read More »