The Office of the Attorney General has entered into joint state and federal settlements involving residential mortgage foreclosures and loan servicing with several of the nation's largest mortgage servicers. In February 2012, this office entered into the landmark National Mortgage Settlement with the nation's five largest mortgage servicers -- Wells Fargo, Bank of America, Citi, JP Morgan Chase, and Ally Bank/GMAC. The office has entered into additional multistate settlements with Countrywide, Wells Fargo for Pick-a-Pay loans, Ocwen, SunTrust and HSBC. Information about the settlements, the benefits that the settlements have brought to Maryland consumers, and the servicers' compliance with the settlements is available at http://www.nationalmortgagesettlement.com/ and at:
Maryland, together with five other states and multiple federal agencies, settled with Bank of America in August 2014, resolving claims involving residential mortgage backed securities containing toxic mortgages. The office will distribute $75 million from the settlement to compensate state and local government entities and their pension plans for RMBS investment losses. The settlement also obligates BOA to provide billions more nationwide in consumer relief.
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