Attorney General’s Mortgage Servicing Settlement
On February 9, 2012, it was announced that the Maryland Office of the Attorney General,
the Maryland Department of Labor, Licensing, and Regulation’s Office of the Commissioner
of Financial Regulation, the Federal government, and the five leading bank mortgage
servicers agreed to a $25 billion dollar settlement in response to a nationwide
epidemic of foreclosure abuses and unacceptable mortgage servicing practices, including
those known as “robo-signing”. The settlement will provide about $40 billion in
benefits to homeowners nationwide, which is expected to bring close to $1 billion
of benefits to Maryland.
Read the Frequently Asked Questions (FAQ)
If your lender or servicer is one of the banks that is part of the settlement, please
note they have established toll-free numbers for customers to call for more details:
- Wells Fargo: 1-800-288-3212
- Bank of America: 1-877-488-7814
- Citi: 1-866-272-4749
- JP Morgan Chase: 1-866-372-6901
- Ally Bank/GMAC: 1-800-766-4622
Remember: If you are behind in your mortgage or concerned that you may fall behind,
DON’T WAIT. Trained nonprofit housing counselors can assist you now, free of charge.
Please call the Maryland HOPE hotline at 1-877-462-7555 or visit
www.mdhope.org so you can connect with a housing counselor in your area.