Wednesday, August 29, 2012

Mortgage settlement monitor releases first report

UPDATE, 10:45 a.m. Here's our first take on how North Carolina has been affected.

The monitor of the $25 billion mortgage settlement involving Bank of America, Wells Fargo and three other big banks has released his first report, showing that banks have reported providing $10.5 billion in relief to homeowners.

The report from former N.C. banking commissioner Joseph Smith notes that the figures are unaudited. But it provides the first look at what's been done in North Carolina, and what Bank of America and Wells Fargo have offered their customers.

We'll have more updates as we parse the report.

Click here to read the report.