Other LanguagesSEATTLE — Attorney General Bob Ferguson today announced Washington homeowners will recover $1 million, as part of a $470 million agreement secured for homeowners nationwide through a state-federal legal action against mortgage lender and servicer HSBC.
Attorney General Bob Ferguson announced today that Washington homeowners will share in $550 million secured for homeowners nationwide through a legal action against SunTrust Mortgage, Inc. by 49 states, the District of Columbia and the federal government.
$49M in principal mortgage reductions for struggling homeowners
and $1,000+ cash payments to eligible foreclosed borrowers in Washington
state
Tougher mortgage servicing standards hold Ocwen accountable for past practices, ensure fundamental servicing reforms
SEATTLE — Ocwen
Financial Corporation of Atlanta, Georgia, and its subsidiary, Ocwen
Loan Servicing, have agreed to a joint state-federal settlement with
Attorney General Bob Ferguson, 48 additional states and the District of
Columbia, and the federal Consumer Financial Protection Bureau (CFPB).
The Washington State Attorney General’s Office (AGO) has filed a Consumer Protection Act lawsuit against a Bellflower, Calif. company that preys on unsuspecting new property owners.
16,377 Washington state borrowers received relief
Attorney General Bob Ferguson announced that the five banks covered under the National Mortgage Settlement have reported providing over $1.2 billion dollars in consumer relief to Washington homeowners. As of June 30, 2013, according to the unaudited bank reports, 16,377 Washington state borrowers have received an average of $74,763 in consumer relief. This relief includes debt reduction loan modifications on first and second mortgages, lower interest rates on underwater mortgages, and transitional assistance for those unable to remain in their homes.
OLYMPIA—Washington State Attorney General Bob Ferguson today urged the U.S. Department of Defense (DoD) to strengthen federal Military Lending Act (MLA) regulations to better protect servicemembers from abusive lending practices.
Attorney General Bob Ferguson said the latest report by the national monitor on the progress of five servicers subject to the National Mortgage Settlement shows success, but much work remains.
Borrowers who submitted a valid foreclosure payment claim through the National Mortgage Settlement will receive a check this month for approximately $1,480, much higher than the amount of $840 first announced.
In the year since state Attorneys General and the federal government reached a historic consumer protection settlement with the nation’s five largest banks, the banks report they have provided nearly $46 billion in gross relief to more than 550,000 borrowers, according to an independent monitor’s report released this morning.
Attorney General Bob Ferguson today joined a group of state attorneys general and the U.S. Dept. of Justice in filing suit against Standard & Poor’s. The group alleges the credit rating agency misled investors with regard to structured finance securities backed by subprime mortgages that were at the center of the national financial crisis.