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Some Details of the AGs and Servicers Settlement Emerge


... In the deal, approximately $17 billion would be set aside for principal reductions, and $3 billion would be to cover the costs of refinancing for current, underwater borrowers.

The remaining $5 billion would be delivered in cash, $3.5 billion of which will help fund state and federal foreclosure mediation programs.

Under the expected settlement, "$1.5 billion will go to people who were foreclosed upon and were abused in some way during the process. The compensation payment to each borrower will range between $1,500 and $2,000," said Tillwitz in an email to clients. ...

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