Mortgage Settlement Monitor: Bank of America Complying at Fastest Pace

Bank of America has moved at a faster clip than Wells Fargo, JPMorgan Chase and Citigroup in meeting obligations to help borrowers facing possible foreclosure under last year’s $25 billion National Mortgage Settlement. The latest audits credits Bank of America with 97 percent of its required $7.6 billion in consumer relief as of the end of last year.

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National Mortgage Settlement: N.Y. Sues Wells Fargo, BofA Gets Reprieve

New York’s attorney general said he is suing Wells Fargo to get the nation’s largest mortgage lender to comply with new servicing standards under last year’s five-bank settlement spurred by foreclosure-related abuses. Meanwhile, Attorney General Eric T. Schneiderman said today that his office has reached an agreement to suspend a similar enforcement action against Bank of America.

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