Mortgage deal small step in refinancing: Mortgage servicers agree to reimburse after fraudulent foreclosures
Posted February 27, 2012 in Press Releases
Ohio’s participation in a roughly $25 billion government settlement agreement over alleged mortgage fraud has garnered a mix of skepticism and applause in a state still battling widespread foreclosures.
The settlement between state and federal regulators and the nation’s five biggest mortgage servicers would put cash in the pockets of victims of improper foreclosures and lower mortgage payments for borrowers who owe more than their houses are worth.
The settlement would also require the banks