The Monitor in charge of managing the
$25 billion settlement between mortgage servicing companies and federal
agencies working in conjunction with 49 of the 50 state attorneys general said
he will be paying extra attention to military-specific outreach. In an announcement times t coincide with
Veterans Day, Joseph A. Smith, Jr., said he wants to encourage service members
and their advocates to report complaints about servicers using online forms to
better inform the settlement's oversight.
Day is a reminder to honor the service members who have and continue to
dedicate their lives to protecting this country," said Smith. "The national
mortgage settlement has particular provisions specific to service members, and
we want to make sure they're aware of them. I also want to know if any of our
nation's veterans are experiencing wrongful treatment from their mortgage
servicer, as it will help me better oversee the settlement and ensure they find
appropriate counsel for their issue."
Smith will use the information gathered
from these complaints to investigate any notable trends in servicing complaints
as banks move forward with implementing the agreement.
is my responsibility to help make this settlement meaningful for borrowers,"
Smith said. "That obligation is especially important for the men and women who
serve in our military. I hope that this information will be helpful to them,
and they will let me know if they do not see improvements."
collect mortgage servicing complaints, Smith has two online forms specific to
military personnel and their advocates:
service members: mortgageoversight.com/service
professionals who advocate for service members: mortgageoversight.com/military
website also has fact sheets specific to service members and service
member advocates to explain parts
of the national mortgage settlement particular to military personnel.