Neb. to see nearly $10M from mortgage settlement
OMAHA, Neb.—The Nebraska Attorney General's office says state coffers will see nearly $10 million from a $25 billion, multistate mortgage settlement, but is unsure how much Nebraska homeowners will see from the settlement.
The office issued a news release Thursday saying nearly $9 million of Nebraska's share of the settlement will be deposited into the state's cash reserve fund. The Nebraska Department of Banking and Finance will receive another $1 million for foreclosure prevention and education.
The five major lenders involved in the settlement include Bank of America, Wells Fargo, JPMorgan Chase, Citigroup, and Ally Financial.
But when asked what Nebraska borrowers could see from the settlement, a spokeswoman for the attorney general said that payments to homeowners will be under federal -- not state -- oversight.
Spokeswoman Shannon Kingery directed questions regarding borrowers' share of the settlement to the National Mortgage Settlement website at http://nationalforeclosuresettlement.com.
