Thursday, April 5, 2012

FYI: Judge Enters Consent Judgments in $25B National Servicing Settlement

As widely reported in the news media, Judge Rosemary Collyer of the U.S. District Court for the District of Columbia entered the proposed consent judgments against the five largest mortgage loan servicers, including the attached sample Settlement Term Sheet and additional exhibits specific to each defendant. 
This effectuates the $25 billion national servicing (or so-called "robo-signing") settlement, brought by 49 state Attorneys General and the U.S. Department of Justice. 
The Attorneys General set up a website which provides additional documentation regarding the settlement, including a "Settlement Executive Summary" and "Settlement Fact Sheet," at:

Ralph T. Wutscher
McGinnis Tessitore Wutscher LLP
The Loop Center Building
105 W. Madison Street, 18th Floor
Chicago, Illinois 60602
Direct: (312) 551-9320
Fax: (312) 284-4751
Mobile: (312) 493-0874

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