The $8.5 billion pact is separate from another initiative, the National Mortgage Settlement, which will soon disburse payments of about $1,500 to $2,000 to many foreclosed-upon people under a ...

A settlement bank is the last bank to receive and report the settlement of a transaction between two entities. ... During the clearing process, an issuer bank will debit their customer's account, ...

Details of Mortgage Servicing Settlement Between Banks and AGs Begin to Emerge; ... $1.5 billion will go to people who have been foreclosed on and were abused in some way during the process.

Ten major banks in the U.S. have agreed to $8.5 billion for wrongful foreclosures on homeowners during 2009 and 2010 at the height of the housing crisis. Margaret Warner talks to Guy Cecala of ...

And Loretta Lynch, the U.S. Attorney in Brooklyn, N.Y., announced a $1 billion settlement with Bank of America to resolve claims of underwriting and mortgage origination fraud by BofA and mortgage ...

WASHINGTON — While the effective demise of settlement talks between the state attorneys general and the top mortgage servicers has its downsides, it may ultimately turn out to be a good thing for ...

ALBANY, N.Y. - New York and California have agreed to sign the proposed settlement between U.S. states and the nation's biggest mortgage lenders over foreclosure abuses, according to a source ...