Mortgage Servicing Settlement: $71M for Hawaii

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Attorney General David Louie said Thursday (Feb. 9) that Hawaii has joined a landmark $25 billion joint federal-state agreement with the nation’s five largest mortgage servicers over foreclosure abuses and fraud, and unacceptable nationwide mortgage servicing practices.

The state’s estimated share of the settlement, according to Louie, is over $71 Million 

Press release statement from Louie:

It provides real relief and real money to help struggling homeowners in our state. Importantly, this puts a stop to the bad practices of many banks, and puts into place a comprehensive set of reforms for how banks must treat homeowners with mortgages.

Read the full press release.

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