Idaho homeowners have so far received $96.4 million in mortgage loan relief under the national mortgage settlement, Attorney General Lawrence Wasden said Monday.
Wasden's announcement was based on a progress report by the settlement's monitor. The monitor said the five banks in the settlement Ally, Bank of America, Citi, J.P. Morgan Chase and Wells Fargo reported they have given mortgage loan relief to 1,653 Idaho homeowners in the past seven months.
"This latest report is a snapshot of where the banks stand in meeting their consumer relief obligations under the settlement," Wasden said, noting that the bank-reported data has not yet been verified by the monitor.
The five banks must provide $20 million in mortgage relief to consumers nationwide.
The banks said they gave Idaho homeowners assistance in the form of:
First- and second-lien principal reductions.
Completed short sales.
The banks also said they:
Offered or approved more than 100 first-lien modification trials in Idaho.
Identified 12,207 Idahoans eligible for payments from a $10 million restitution fund. Those Idahoans were notified by mail in late September and must respond by Jan. 18, 2013.
Visit www.mortgageoversight.com to read the monitor's complete report.