As an agency approved by the Executive Office for United States Trustees, they have requested that all approved agencies provide information that could be beneficial to consumers seeking our services. Springboard would like to share this information with those consumers who maybe financially distressed.
The National Mortgage Settlement is the largest consumer financial protection settlement in United States history, and settles certain state and federal investigations relating to mortgage servicing abuses, including abuses in the bankruptcy process. The settlement will provide as much as $25 billion in relief to distressed borrowers and direct payments to states and the federal government.
To permit borrowers to determine whether their loans are affected by this settlement, the timeline for relief, and other eligibility questions, various governmental offices involved in the settlement have posted information on several websites noted below:
- The United States Trustee Program’s website concerning the National Mortgage Settlement, which includes Frequently Asked Questions: http://www.justice.gov/ust/eo/public_affairs/consumer_info/nms/index.htm
- The website of the Office of Mortgage Settlement Oversight at: http://www.mortgageoversight.com/
- The website of the Executive Committee of the state attorneys general: http://www.nationalmortgagesettlement.com/