National Mortgage Settlement Information
Department of Finance Director Gavin Gee announced his department is participating in an historic mortgage servicing settlement in response to significant and far-reaching problems discovered in the residential mortgage servicing industry.
The $25 billion settlement is between 45 state regulatory agencies and the District of Columbia, 49 state attorneys general, a host of federal agencies, and the five largest mortgage servicing companies – Bank of America Corp., Wells Fargo & Co.,
JPMorgan Chase & Co., Citigroup Inc., and Ally Financial Inc.
Idaho’s estimated share of the settlement is approximately $114 million, of which approximately $100 million will provide direct relief to Idaho homeowners whose mortgages are owned and serviced or were foreclosed on by one of the settling servicers.
Idaho homeowners can access specific information about the national mortgage settlement on the Idaho Attorney General’s website, including a summary of the national mortgage settlement, national mortgage settlement FAQs, and payment eligibility forms for homeowners who believe they are eligible to receive payment under the national mortgage settlement.
Idaho Homeowners National Mortgage Settlement Resources:
Idaho homeowners with loans serviced by one of the five settling mortgage servicers may also contact the servicer directly to inquire about available mortgage loan assistance programs. Ally/GMAC (800-766-4622); Bank of America (877-488-7814); Citi (866-272-4749); JPMorgan Chase (866-372-6901); and Wells Fargo (800-288-3212).
Five settling mortgage servicers links:
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