February 9, 2015

The DOJ announced that under its settlements with 5 of the nation’s largest mortgage servicers, 952 service members are eligible to receive over $123M for mortgage foreclosures that violated the Servicemembers Civil Relief Act.  The statute generally prohibits non-judicial foreclosures against service members who are in military service or within the applicable post-service period.  The five mortgage servicers are JPMorgan Chase; Wells Fargo Bank and Wells Fargo & Co.; Citi Residential Lending Inc., Citibank and CitiMortgage Inc.;GMAC Mortgage, Ally Financial Inc. and Residential Capital LLC; and BAC Home Loans Servicing LP (formerly known as Countrywide Home Loans Servicing LP).  DOJ

Tagged in: Housing and Mortgage Fraud,