The Hawaii attorney general says more than 1,400 Hawaii borrowers will receive checks of $1,480 as part of claims paid for mortgage servicing abuse.
The eligible borrowers lost homes to foreclosure between January 1, 2008, and Dec. 31, 2011, and were required to submit a valid foreclosure payment claim.
Attorney General David Louie says in a press release that the checks are from a $1.5 billion payment pool negotiated as part of the National Mortgage Settlement.
Hawaii was one of 49 states that participated with the federal government in the settlement with Ally, which formerly was GMAC, plus Bank of America, Citi, JPMorgan Chase and Wells Fargo.
Louie says payments don't limit borrowers from seeking additional relief.
Attorney general announces $1.5 billion mortgage settlement
Eligible borrowers lost homes to foreclosures in 2008-2011Published 11:09 AM HST Jun 04, 2013
The Hawaii attorney general says more than 1,400 Hawaii borrowers will receive checks of $1,480 as part of claims paid for mortgage servicing abuse.Recommended