Banks Face New Performance Metrics In $25B Mortgage Deal

Law360, New York (October 3, 2013, 2:25 PM EDT) -- The monitor of the $25 billion settlement between the U.S. and its five largest mortgage servicers announced four new metrics on Tuesday, which will measure the banks' compliance with the landmark deal and address numerous, continual complaints from borrowers and professionals.

Joseph A. Smith Jr., the monitor overseeing the February 2012 deal, said that the new metrics followed complaints that the five banks participating in the settlement had still not established a single point of contact for borrowers who are behind on their payments, as well...
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