The Real Deal Miami

Fla. attorney general considering New York’s mortgage settlement banks complaint

May 07, 2013 02:00PM
By Emily Schmall

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Florida Attorney General Pam Bondi

Florida’s attorney general Pam Bondi said her office is considering claims that Wells Fargo and Bank of America are violating the terms of last year’s nationwide, five-bank mortgage settlement.

New York Attorney General Eric Schneiderman has notified a national oversight commission created to enforce the agreement, which requires banks to respond to mortgage modification requests within 30 days, and pledged to sue if the group took no action.

Bondi said in a news release this morning that her office is considering the attorney general’s complaint.

“As one of the hardest hit states in the foreclosure crisis, we have been closely monitoring compliance with the national mortgage settlement, and we are in regular contact with several banks on behalf of complainants,” Bondi said. “We look forward to reviewing the information New York has provided.”

The $25 billion settlement between the government and the nation’s five largest mortgage lenders has gone to some 102,000 distressed Florida homeowners with an average of $75,949 in relief, according to a February report of the Office of Mortgage Settlement Oversight.

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