Tag: settlement

Maryland gets $1 billion mortgage settlement

Attorney General Doug Gansler told lawmakers Monday that the ink was still drying on the state’s $1 billion mortgage settlement with the five major banks — Wells Fargo, GMAC, Bank of America, JP Morgan Chase, and Citibank. Gansler said the state gave up all rights to sue the big five banks for servicing and originating bad mortgage claims, but gained 42 pages of new bank standards for servicing loans in Maryland.

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