Mortgage Settlement Monitor Focuses on Military

by devteam November 13th, 2012 | Share

The Monitor in charge of managing thern$25 billion settlement between mortgage servicing companies and federalrnagencies working in conjunction with 49 of the 50 state attorneys general saidrnhe will be paying extra attention to military-specific outreach.  In an announcement times t coincide withrnVeterans Day, Joseph A. Smith, Jr., said he wants to encourage service membersrnand their advocates to report complaints about servicers using online forms tornbetter inform the settlement’s oversight. rn</p

“VeteransrnDay is a reminder to honor the service members who have and continue torndedicate their lives to protecting this country,” said Smith. “The nationalrnmortgage settlement has particular provisions specific to service members, andrnwe want to make sure they’re aware of them. I also want to know if any of ourrnnation’s veterans are experiencing wrongful treatment from their mortgagernservicer, as it will help me better oversee the settlement and ensure they findrnappropriate counsel for their issue.”</p

Smith will use the information gatheredrnfrom these complaints to investigate any notable trends in servicing complaintsrnas banks move forward with implementing the agreement.  </p

“Itrnis my responsibility to help make this settlement meaningful for borrowers,”rnSmith said. “That obligation is especially important for the men and women whornserve in our military. I hope that this information will be helpful to them,rnand they will let me know if they do not see improvements.” </p

Torncollect mortgage servicing complaints, Smith has two online forms specific tornmilitary personnel and their advocates: </p

Forrnservice members:  </p

Forrnprofessionals who advocate for service members:</p

Thernwebsite also has fact sheets specific to service members and servicernmember advocates to explain partsrnof the national mortgage settlement particular to military personnel.

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About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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