PRINT | CLOSE WINDOW

N.Y. homeowners received nearly $2B under settlement

By WILL ASTOR - 5/21/2013 3:09:31 PM

New York homeowners so far have received $1.92 billion in National Mortgage Settlement money, New York Attorney General Eric Schneiderman said Tuesday.

Schneiderman has co-chaired the Residential Mortgage-Backed Securities Working Group since President Barack Obama convened the group in January of last year.

Charged with investigating lenders, mortgage brokers and others whose conduct led to the 2008 mortgage crisis, the group’s members include Department of Justice, Department of Housing and Urban Development, Securities and Exchange Commission, Consumer Financial Protection Bureau and law enforcement officials from several states.

“While we are pleased that the benefits to homeowners including reduced debt, lower mortgage payments, and averted foreclosures  have been substantial, our work is not finished,” Schneiderman said. 

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.