National Mortgage Settlement

TO ALL APPROVED AGENCIES AND PROVIDERS: As you may know, the Attorney General recently announced that the federal government and 49 states had reached a settlement agreement with the nation's five largest mortgage servicers to address mortgage servicing, foreclosure, and bankruptcy abuses (the "National Mortgage Settlement"). On April 4, 2012, the United States District Court for the District of Columbia entered orders approving the settlement. 

The National Mortgage Settlement is the largest consumer financial protection settlement in United States history, and settles certain state and federal investigations relating to mortgage servicing abuses, including abuses in the bankruptcy process. The settlement will provide as much as $25 billion in relief to distressed borrowers and direct payments to states and the federal government. 

To permit borrowers to determine whether their loans are affected by this settlement, the timeline for relief, and other eligibility questions, this office and the other governmental offices involved in the settlement have posted information on several websites. As approved credit counseling agencies and debtor education providers, you are in a unique position to make this information available to financially distressed clients. Accordingly, we request that you post the following links on your website: 

1. The United States Trustee Program's website concerning the National Mortgage Settlement, which includes Frequently Asked Questions: http://www.justice.gov/ust/eo/public_affairs/consumer_info/nms/index.htm 2. The website of the Office of Mortgage Settlement Oversight at: http://www.mortgageoversight.com/ 3. The website of the Executive Committee of the state attorneys general: http://www.nationalmortgagesettlement.com/ Thank you in advance for your cooperation with this request. If you have any questions, please contact our office at 202-514-4100. 

Wendy S. Tien 

Deputy Assistant Director 

Office of Oversight 

Executive Office for United States Trustees 

20 Massachusetts Avenue, NW, 8th Floor 

Washington, DC 20001 

tel: 202.307.3698 

fax: 202.305.8536 

e-mail: wendy.tien@usdoj.gov

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