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National Mortgage Settlement

The Attorney General/Federal Mortgage Settlement and its Implications for Housing Finance
PROGRAM UPDATES
COMMENTARY
NEWS
MORTGAGE SETTLEMENT BY STATE

STATE ATTORNEYS GENERAL ANNOUNCES MORTGAGE SETTLEMENT WITH BANKS

National State Attorneys General Program at Columbia Law School Press Release on Foreclosure Settlement

National State Attorneys General Program, 212-851-1061 or jtiern@law.columbia.edu

After-hours: Jim Tierney, 207-837-1877 or jtiern@law.columbia.edu

New York, Feb. 8, 2012—James E Tierney, the director of the National State Attorney General Program at Columbia Law School and the former attorney general of Maine, is available to discuss the settlement between state attorneys general; federal agencies; and the Bank of America, Wells Fargo, J.P. Morgan Chase, Citigroup, and Ally Financial.

At a time when our political leaders have trouble agreeing on almost anything, the settlement represents a case study in collaboration.

“Attorneys general are unique in their ability to work together across party lines to accomplish positive results for both consumers and our economy,” said Tierney. “This is a remarkable accomplishment.”

C-Span Coverage of the Announcement

National Mortgage Settlement Website

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The Attorney General/Federal Mortgage Settlement and its Implications for Housing Finance

The Attorney General/Federal Mortgage Settlement and its Implications for Housing Finance

James Tierney, Director of the National State Attorney General Program, Professor Robert Jackson, Associate Professor of Law at Columbia Law School, and James Millstein, CEO of Millstein & Co, LLC (Formerly Chief Restructuring Officer at the Department of the Treasury) discuss the recent mortgage-finance settlement and its implications for housing-finance policy going forward.

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SPEAKER BIOS

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PROGRAM UPDATES

Program Director James Tierney Featured on NPR's Marketplace Coverage of Foreclosure Settlement (Feb. 6)

Program Director James Tierney Featured in Washington Post Article on Foreclosure Settlement. (Feb. 6)

Director Tierney Featured in Guardian News on Pending Foreclosure Settlement (Feb. 6)

Tierney Featured in Bloomberg Article on Ongoing State Mortgage Fraud Investigations (Oct. 13)

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COMMENTARY

Foreclosure Settlement Fails to Force Mortgage Companies to Improve (August 7)

AG Settlement Will Harm, Not Help the Economy (March 14)

California Attorney General Kamala Harris' Foreclosure Deal a Win for State (March 5)

Mortgage Fraud Task Force Skeptics Wait for Strong Leader, Swift Action (Feb. 28)

Moral Hazard: A Tempest-Tossed Idea (Feb. 25)

Mortgage Settlement Or Mortgage Shakedown? (Feb. 21)

The "Robo-Signing" Settlement: Seeds of Recovery, or Chaos? (Feb. 20, 2012)

Attorney General Can Take a Bow For Mortgage Settlement (Feb. 21, 2012)

Too Many Unanswered Questions, and Too Little Relief (Feb. 11, 2012)

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NEWS

Progress Report from the Monitor of the National Mortgage Settlement

Report: Understanding How States Are Spending Their Share of the National Mortgage Settlement (May 2012)

Needy States Use Housing Aid Cash to Plug Budgets (May 15)

Banks to Face Tough Reviews, Details of Mortgage Deal Show (March 12)

Joint Federal-State Lawsuit Accuses Company of Foreclosure Rescue Scam (Feb. 26)

Moody's: Bank Settlement to Prevent Between 500,000 and 1 million Foreclosures (Feb. 23)

Some Money From Mortgage Settlement to Be Diverted (Feb. 22)

Ohio to get $335M in national mortgage settlement (Feb. 10)

49 Attorneys General Sign on to Mortgage Settlement with National Banks (Feb. 9)

Iowa AG Miller Announces Joint State-Federal Mortgage Servicing Settlement on Foreclosure Wrongs (Feb. 9)

Colorado AG Suthers announces Colorado will receive $204.6 million in foreclosure-relief funds under multistate settlement ( Feb.9)

Attorney General Koster announces 136-count criminal indictments related to robo-signing in mortgage industry (Feb. 9)

Attorney General Eric Schneiderman Sues 3 Big Banks Over Mortgage Database (Feb. 3)

Illinois Attorney General Sues Standard & Poor’s for Enabling Financial Meltdown (Jan. 25)

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MORTGAGE SETTLEMENT BY STATE

Alabama
Alabama to Receive $107M in Foreclosure Abuse Settlement (Feb. 9)

Alaska

Alaska Joins $25 Billion Settlement on Mortgage Servicing and Foreclosure Abuses (Feb. 9)

Arizona

Arizona Attorney General sets 3-year foreclosure plan for lender-case funds(Sep. 24)

Arizona Legislature Approves $50m Sweep of Mortgage Settlement Funds to General Fund (May 2)

Arizona to get $1.6B, 3rd-largest share of mortgage settlement (Feb. 9)

Arkansas

Arkansas to Receive $39.4M in Mortgage Settlement (Feb. 9)

California

California Attorney General Seeks More Mortgage Protections (Feb. 29)

California Attorney General Extracts Something Extra From the Big Banks (Feb. 10)

Californians to Get Up to $18 Billion in Mortgage Relief in Settlement With Nation's Biggest Lenders (Feb. 9)

Colorado

Colorado May Use Part of Mortgage Settlement share on Prison (March 13)
Colorado to Get $205 Million in Foreclosure Relief (Feb. 9)

Connecticut

Connecticut AG Asks Lawmakers to Dedicate Millions in Mortgage Settlement to Borrowers (Feb. 21)

Connecticut AG Jepsen: Foreclosure Settlement a Start (Feb. 10)
Mortgage Abuse Settlement With Giant Banks Means Nearly $200M For Connecticut (Feb. 9)

Delaware
NY and DE AGs: Bank Mortgage Probes Will Continue Despite Settlement (Feb. 16)
Delaware AG Biden Announces Del. to get $45 million in mortgage settlement (Feb. 9)

District of Columbia

Mortgage Settlement Nets $40M for DC Homeowners (Feb. 9)

Florida

Florida AG Shifts Servicer Settlement Funds to Foreclosure Threats (Jan.22)

Florida AG, Lawmakers Unveil Plan for $300 Million Mortgage Settlement Funds (Nov. 2)

Florida Settlement Brings $59K in Restitution to Victims of Home Foreclosure Scheme (Feb. 15)

Florida Gets $8.4 Billion Chunk of $25 Billion Mortgage Settlement (Feb. 9)

Georgia

Georgia Lawmakers Debate Use of Mortgage Settlement Funds (Feb. 15)

Georgia to Receive More Than $814 Million From Mortgage Settlement (Feb. 9)

Hawaii

Hawaii Gets $71 Million in Mortgage Servicing Settlement (Feb. 9)

Idaho

Thousands of Idaho Homeowners Could Benefit From Mortgage Settlement, AG Wasden Says (Feb. 9)
AG Lawrence Wasden Announces Foreclosure Workshops Set for Idaho Next Week (Nov. 1)

Illinois

Report: Illinois Has Almost $780 Million in Relief in National Mortgage Foreclosure Settlement (Nov. 20)
AG Madigan Statement on First Progress Report on National Foreclosure Settlement (Aug. 30)

Attorney General Madigan Announces $4.5 Million Grant for Free Legal Help for Illinois Homeowners (Aug. 24)

IL Attorney General Says $20 Million to Help Homeowners, Renters Affected By Foreclosure (April 19)

IL AG: No to diverting money from mortgage deal (Feb.15)

Illinois to Get About $1 Billion in National Mortgage Settlement (Feb. 9)

Indiana

Indiana Will Benefit From Mortgage Deal (Feb. 9)

Iowa

Iowa AG wants extension on Mortgage Helpline information (Jan.22)

Iowa's Take of Mortgage Settlement: $40 million (Feb. 9)

Kansas

$50 Million to Kansas from Landmark Mortgage Settlement (Feb. 10)

Kentucky

Kentucky AG investigating mortgage foreclosures (Jan. 22)

Kentucky Joins Mortgage Foreclosure Settlement (Feb. 9)

Maine

Maine to get $21 Million in Nationwide Foreclosure Settlement (Feb. 9)

Maryland

Maryland AG: homeowners in state have received more than $220M from settlement (Aug. 29)

No plan to 'divert' mortgage settlement money away from Md. homeowners, officials say (March 23)

Information on the Attorney General’s Settlement (Feb. 13)

Maryland to Put Most of Its $1Billion Share of Mortgage Settlement towards Loan Modification for Homeowners (Feb.10)

Massachusetts

Massachusetts Attorney General Martha Coakley unveils anti-foreclosure program (May 12)

Massachusetts Attorney General Martha Coakley says Massachusetts homeowners eligible for $12.5 million in foreclosure relief (Sep. 26)

AG Coakley Touts Foreclosure Initiatives (Aug. 29)

Mass. Officials Announce Award of Anti-Foreclosure Grants (Aug. 20)

AG Coakley Unveils Program to Help Stem Foreclosures (April 26)

$318m for state in banks deal (Feb.10)

Michigan

AG Bill Schuette Warns Consumers About Scams Related to National AG Mortgage Settlement

Michigan to get $790M in foreclosure-abuse settlement (Feb. 10)

Minnesota

Minnesota Homeowners Get $280M Under Nat’l Bank Settlement (Feb. 9)

Mississippi

Miss. getting $47.1 million from bank settlement (Feb. 10)

Missouri

Attorney General's office holding 120 mortgage settlement meetings across Missouri (March 26)

Mortgage Settlement Offices to Be Set Up in Every Missouri County (March 10)

Mo. Attorney General to Offer Mortgage-Settlement Forums (March 9)

Foreclosure Deal May Help States Prop Up Budgets (Feb.13)

Attorney General Koster Outlines Missouri Mortgage Settlement (Feb.10)

Missouri to Spend $40 Million of Bank Settlement Money to Ease Education Funding Cuts (Feb. 10)

Attorney General Koster Announces136-Count Criminal Indictments Related to Robo-Signing in Mortgage Industry (Feb. 9)

Montana

Montana AG Says Foreclosure Settlement Money to Be Spent on Foreclosure Prevention (Aug. 1)

Montanans Attorney General Steve Bullock Promises to Put $20 Million Bank Settlement to Work (Feb. 9)

Nebraska

Nebraska to See Nearly $10M From Mortgage Settlement (Feb. 9)

Nevada

AG Urges Nevadans to Apply for Foreclosure Review by Sept. 30 Deadline (July 9)

Nevada's Attorney General Talks about Mortgage Settlement (Feb. 11)

Bank of America Settles With Nevada Attorney General Masto (Feb. 9)

New Hampshire

NH Attorney General Encourages Mortgage Claims (Sept. 20)

NH Executive Council Delays Mortgage Foreclosure Assistance (Sept. 2)

NH AG says Some May Qualify for Foreclosure Review (Aug. 26)

NH Attorney General Regains Jurisdiction Over Banks Due to Mortgage Settlement (Feb. 12)

New Hampshire AG Delaney Announces State to Receive $43.6 million from Foreclosure Settlement (Feb. 9)

New Jersey
N.J. Gets $837.7M in Nationwide Mortgage and Foreclosure Settlement (Feb. 9)

New Mexico

New Mexico AG King Sets Out Distribution of State’s $92 Million Share of Mortgage Settlement (Feb. 9, 2012)

New York

New York to Settle Some Mortgage Claims with 5 Banks (March 13)

NY and DE AGs: Bank Mortgage Probes Will Continue Despite Settlement (Feb. 16)

46,000 N.Y. Homeowners Aided by Mortgage Deal, says AG Schneiderman (Feb. 10)

North Carolina

NC Attorney General goes after fraudulent foreclosure programs (Sep. 24)

N.C. House Balances Budget with Housing Settlement Funds (May 30)

$338 Million Awaits N.C. in Mortgage Settlement (Feb. 9)

North Dakota

ND to Use Mortgage Settlement Money To Boost Housing Supply in Oil Country, Says AG

Ohio

Ohio AG Mike DeWine on Hand for First Demolition Under State Program (Sept. 19)

Ohio Tears Through Blighted Housing Problem (April 5)

Foreclosure Deal May Help States Prop Up Budgets (Feb.13)

Grants to help Raze Homes in Ohio (Feb. 11)

Ohio to get $335M in national mortgage settlement (Feb. 9)

Oklahoma

Pruitt Rejects About $10 million for Oklahoma Foreclosure Victims (Feb. 17)

Oklahoma AG Pruitt Defends Decision to Opt Out of Multistate Bank Settlement (Feb. 11)
Oklahoma is Lone Maverick in National Mortgage Settlement Signed by 49 States (Feb. 9)

Oregon
Foreclosure settlement nets Oregon at least $100M (Feb. 9)

Pennsylvania

Pennsylvania to get $266M from foreclosure abuse settlement (Feb. 10)

Rhode Island
RI to Get $172M in Housing Relief (Feb. 9)

South Carolina
S.C. to get nearly $34 million in mortgage deal (Feb. 9)

South Dakota

South Dakota Share of Mortgage Settlement Approximately $8 Million, Says AG Jackley (Feb. 9)

Utah
Utah Gets $171M in National Mortgage Settlement (Feb. 9)

Tennessee
AG: TN to get $146M in mortgage relief from big banks (Feb. 9)

Texas
Texas' Slice of Mortgage Deal is Just a Drop in the Bucket (Feb. 9)

Vermont
Vermont Gets $6.7 Million In Foreclosure Settlement (Feb. 9)

Virginia

Virginia Democrats Urge GOP to Use Mortgage Settlement to Help Homeowners (March 7)

Va to get $479.6M in benefits from foreclosure-abuse settlement between states, banks (Feb. 9)

Washington
Wash. share of mortgage settlement: $648 million (Feb. 9)

West Virginia

West Virginia attorney general's office to launch workshops for stressed homeowners (April 4)

W.Va. AG launches mortgage settlement project (Feb.14)

Attorney General McGraw Announces That W.Va. gets $34m in national mortgage lending deal (Feb. 10)

Wisconsin

AG J. B. Van Hollen Says Wisconsin DOJ Can Help With Mortgage Issues (July 21)

Foreclosure Deal May Help States Prop Up Budgets (Feb.13)

Wisconsin to Use Part of National Mortgage Settlement for Budget Hole (Feb. 9)

Wyoming

Wyoming joins $25 billion mortgage servicing settlement (Feb. 9)

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