Attorney General Eric Holder and the Department of Justice’s federal and state partners announced yesterday a settlement agreement with the nation’s five largest servicers including substantial financial compensation to homeowners who are servicemembers. The agreement also established significant new protections for servicemembers in the future. The financial compensation to servicemembers is in addition to the $25 billion settlement to address mortgage loan servicing and foreclosure abuses.
Today, Assistant Attorney General Thomas E. Perez delivered remarks on protections and benefits for military families in this settlement. Assistant Attorney General Perez was joined by two of the Department of Justice’s critical partners on servicemember issues, Delaware Attorney General Beau Biden and Holly Petraeus, Director of the Consumer Financial Protection Bureau’s Office of Servicemember Affairs. Click here to read Assistant Attorney General Perez's remarks.
The press release regarding the servicemembers settlement announcement can be read by clicking here.