Joseph Smith

Local News
3:58 pm
Mon November 19, 2012

BofA Shines In Mortgage Settlement Status Update

Former NC Commissioner of Banks Joseph Smith was appointed to monitor the mortgage settlement.
Credit Office of Mortgage Settlement Oversight

The nation's five largest mortgage servicers – including Bank of America and Wells Fargo – have so far provided more than $20 billion in homeowner relief under a settlement with state attorneys general. Bank of America shows well in the latest report.

The last status report in August had a big zero for the number of mortgages modified or partially forgiven by Bank of America under the settlement. The Charlotte-based bank now leads the other four banks, in those categories with around $3.7 billion in homeowner debts written off.

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