Missouri AG to Use $38 Million From Servicing Settlement to Ease Budget Concerns – NMP Skip to main content

Missouri AG to Use $38 Million From Servicing Settlement to Ease Budget Concerns

NationalMortgageProfessional.com
Jul 17, 2012

Missouri Attorney General Chris Koster has announced that he has deposited $38 million into Missouri’s general revenue fund resulting from his efforts to conclude Missouri’s portion of the national mortgage settlement. The national mortgage settlement, which was announced in February, addresses allegations of foreclosure abuses, unfair mortgage servicing practices and fraud by the nation’s five largest mortgage servicers: Bank of America, Citigroup, JP Morgan Chase, Wells Fargo, and Ally Financial. As part of the settlement, the nation’s attorneys general negotiated a direct payment to each state as well as direct benefits for consumers. “The state of Missouri has faced significant budget challenges the past few years, and I am pleased that our work in the national mortgage settlement will lessen the financial pressure on the state, especially for the state’s colleges and universities,” Koster said.
Published
Jul 17, 2012
CFPB Seeks Insight On Creating A Fairer Mortgage Market

The Consumer Financial Protection Bureau has been actively looking to create a fairer mortgage market, free of discriminatory engagements. To do so, it issued a Request for Information to seek input on rules implementing the Home Mortgage Disclosure Act.

Regulation and Compliance
Nov 17, 2021
Regulators Renew Effort to Protect Against Foreclosures

CFPB, The Fed, FDIC and other agencies will watch for compliance with COVID-19 protections

Regulation and Compliance
Nov 10, 2021
Fed To Begin Tapering Asset Purchases by 14.3% This Month

Also sets target range for the federal funds rate at 0 to 1/4%.

Regulation and Compliance
Nov 03, 2021
CFPB Cracks Down On Discriminatory Credit Reporting For Black And Hispanic Consumers

Consumers in majority Black and Hispanic neighborhoods are far more likely to have disputes appear on their credit reports. 

Regulation and Compliance
Nov 03, 2021
CFPB Names 2 New Assistant Directors

Former Obama Administration officials will lead Supervision Policy, Enforcement divisions.

Regulation and Compliance
Oct 29, 2021
FHFA Proposes Extra Disclosure Rules For Fannie, Freddie

The proposed rule for the Enterprise Regulatory Capital Framework seeks to put Enterprises on a "level playing field" with U.S. banking requirements.

Regulation and Compliance
Oct 28, 2021