AG Gansler: Federal Court Finalizes $25 Billion Mortgage Servicing Settlement

Baltimore, MD – April 6, 2012 – (RealEstateRama) — Attorney General Douglas F. Gansler announced today that U.S. District Court Judge Rosemary M. Collyer has signed the consent judgments that order the nation’s five largest mortgage servicers to comply with comprehensive new mortgage loan servicing standards, to provide substantial direct consumer relief and monetary payments, and to submit to an independent monitor, as part of a $25 billion national mortgage servicing joint state-federal settlement. It is the largest joint state-federal settlement ever obtained.