About That $25 Billion Robo-Signing Settlement

Photograph by John Moore/Getty Images

Bank of America is touting some good news: It’s completed or approved $15.8 billion in relief for 164,000 homeowners as part of the national mortgage settlement signed in February. BofA says those figures include approvals to cut the mortgage principal owed by 30,000 homeowners. It says it’s on track to fulfill its obligations in the first year of the program, rather than the three years banks have to comply.

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