(The following is a reformatted version of a press release
issued by Joseph A. Smith Jr., Monitor of the National Mortgage
Settlement, received via e-mail and confirmed by the sender.) 
Banks’ Gross Relief Tops $45 Billion
Joseph Smith provides update on national mortgage settlement consumer relief 
distribution through Dec. 2012 
RALEIGH, N.C. – Joseph A. Smith, Jr., Monitor of the National Mortgage 
Settlement, today released a report 
.pdf) that outlines the consumer relief 
( activities the five banks that are 
parties to the Settlement have conducted since March 1, 2012. The banks 
disclosed that they have extended more than $45.83 billion in gross relief to 
more than 550,000 borrowers, or roughly $82,668 per homeowner. These figures 
include active first lien trial modifications as of Dec. 31, 2012, as well as 
completed relief. 
“After a year of work by the stakeholders in the Settlement, we have seen 
borrowers receive more than $45 billion in much-needed relief and Ally meet and 
receive credit for its consumer relief obligation,” said Smith. “We also have 
set up a compliance infrastructure to measure servicing standards over the 
longer term. I believe we have made progress, particularly as it relates to 
consumer relief, but I know from my regular conversations with advocates across 
the nation that the banks and I have much more work to do on behalf of 
The full report can be found here 
.pdf) and a fact sheet can be found here 
tion_Fact-Sheet.pdf). The Monitor’s state-by-state data map is available here 
( . 
“The report discloses that the banks have completed $42.34 billion in consumer 
relief to borrowers between March 1 and December 31, 2012, and have an 
additional $3.49 billion still in active trial modifications,” said Smith. 
“Borrowers have received approximately $25 billion in some type of consumer 
relief to help them retain their home. This information represents gross dollar 
amounts and, because in many cases relief under the Settlement is not credited 
dollar-for-dollar, cannot be used to evaluate progress toward the banks’ $20 
billion obligation.” 
The Monitor’s next reports will be to the United States District Court for the 
District of Columbia. Such reports may include crediting for consumer relief 
activities of some or all of the banks and will include information about the 
banks’ compliance with the servicing standards, or reforms, outlined in the 
Settlement. The compliance reports are expected later this year. 
About the Office of Mortgage Settlement Oversight
More information about the National Mortgage Settlement is available at Further information about Joseph Smith and 
the Office of Mortgage Settlement Oversight is available at    
Laura Brewer (
(rml) NY
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