HUD Rolls Out New PSAs for $25B Servicer Settlement

The Secretary of Housing and UrbanrnDevelopment (HUD) and the state attorney general who handled much of the negotiationrnleading to last spring’s $25 billion settlement with mortgage servicers rolledrnout its first high visibility outcome on Thursday.  Secretary Shaun Donovan and Iowa AG TomrnMiller previewed a new public service advertising (PSA) campaign aimed atrninforming delinquent and underwater homeowners about help that may be availablernfrom the cash settlement.   </p

The campaign has three components,rn30 second television and radio spots, a new website, and arnMortgage Assistance Guide.  The ad, whichrncan be viewed through the site or below,rnis short and unburdened with details.  Itrnmerely informs homeowners of the possibility of assistance and directs them tornresources made possible by the settlement. rnThe radio version of the ad is also available in Spanish.  </p

“The National Mortgage ServicingrnSettlement represents the single largest-scale principal reduction effort we’vernseen since this housing crisis began and the PSAs and online tools announcedrntoday will create an extended opportunity for homeowners, across the country,rnto gain  access to information, options and opportunities that could helprnto keep them in their homes,” said HUD Secretary Shaun Donovan. “Already thernservicing settlement is helping homeowners and making a difference, and ourrngoal is to ensure every eligible family is aware of the help itrnprovides.”  </p

 “If we learned anything fromrnthe housing crisis, it is that that there is no one solution,” said IowarnAttorney General Tom Miller. “We want homeowners to know the possibilities thatrnthey have with this settlement. PSAs are already running in Iowa and we’rernhopeful that information shared helps people in a substantial way.”</p<p

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