WASHINGTON - U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan and Iowa Attorney General Tom Miller will host a press call tomorrow announcing the latest consumer education efforts for the historic $25 billion mortgage servicing settlement. In April, a Federal District Court approved The Justice Department, The Department of Housing and Urban Development and 49 state attorneys general landmark $25 billion agreement with the nation's five largest mortgage servicers (Ally/GMAC, Bank of America, Citi, JP Morgan Chase, and Wells Fargo) to address mortgage loan servicing and foreclosure abuses. The settlement will provide up to $25 billion in relief to borrowers and direct payments to the states and federal government. This settlement is the largest multi-state settlement since the Tobacco Settlement in 1998.
WHO: U.S. Housing and Urban Development Secretary Shaun Donovan and Iowa Attorney General Tom Miller
WHAT: Press Conference Call with HUD Secretary Donovan and Iowa Attorney General Miller Announcing Latest Consumer Education Efforts
