Friday, August 23, 2013 at 10:19 AM
The Ohio Attorney General's Office says $383 million has gone to 10,000 state residents, as part of the National Mortgage Settlement announced last year.
Five major mortgage service providers – Ally, Bank of America, Citi, JPMorganChase, and Wells Fargo – were parties in the settlement.
Ohio Attorney General Mike DeWine says this settlement money will help those victimized by robo-signing and other practices, though he acknowledges the individual distributions are modest.
“It could be a $1,000, it could be $2,000….but every little bit helps,” DeWine says. “And they have been victimized, and this is helpful to them.”
DeWine adds says this is likely near the last few dollars owed in restitution. Nationally, the five servicers have reported providing $51 billion in consumer relief through late June.
(Story by ideastream’s Brian Bull)
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