Joint State-Federal Mortgage Servicing Settlement

The last several years have been difficult ones for Wisconsin homeowners. A surge in subprime mortgage lending, followed by a drop in housing values, put many families in a place they never imagined they’d be: underwater, in debt and facing foreclosure. A bad situation was made worse by lenders and mortgage servicers who pursued foreclosure through a pattern of illegal, unfair and deceptive practices. In some cases, people lost their homes even though they were able and willing to make reasonable payments. The aggressive pursuit of foreclosure also caused a glut of empty and unsalable homes that devalued neighborhood property and created a public safety hazard.

I am proud to be part of a bipartisan coalition of state attorneys general, state bank regulators and federal agencies that are holding the nation’s five largest mortgage servicers accountable for their conduct by commencing a legal action and entering into a comprehensive Consent Judgment that’ll provide relief and reforms now. The information and links below provide detailed information about the Consent Judgment and the rights and remedies that are now being made available to the people of Wisconsin.

Mortgage Settlement News Release

Fact Sheet

Documents for the Settlement

FAQ

Office of Mortgage Settlement Oversight

JP Morgan Consent Judgment

JP Morgan Exhibit A

Bank of America Consent Judgment

Bank of America Exhibit A

Citigroup Consent Judgment

Citigroup Exhibit A

Ally/GMAC Consent Judgment

Ally/GMAC Exhibit A

Wells Fargo Consent Judgment

Wells Fargo Exhibit A