U.S. Banks Have Provided $26.1 Billion Under Foreclosure Accord
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The five largest U.S. mortgage servicers have provided about $26.1 billion for borrowers so far under a $25 billion settlement over abusive foreclosure practices, according to a court-appointed monitor.
The aid included $2.6 billion in principal relief for about 22,000 borrowers, the Office of Mortgage Settlement Oversight said in a report released today. Lenders including Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co. aided a total of 309,385 borrowers, according to the report.