Banks Provided $46B In Mortgage Aid, But Complaints Surge

Law360, New York (February 21, 2013, 1:59 PM EST) -- The five largest U.S. banks that entered into a landmark national mortgage settlement last year have already provided nearly $46 billion in relief to over 500,000 homeowners, but the settlement's monitor also saw a spike in complaints from borrowers in a report released Thursday.

The linchpin of the $25 billion February 2012 joint federal-state national mortgage settlement with Bank of America Corp., JPMorgan Chase & Co., Citigroup Inc., Wells Fargo & Co. and Ally Financial Inc. was the requirement to provide $20 billion worth of assistance...
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