By Janet Murguía, Marc H. Morial, and Lisa Hasegawa
This February marks the one-year anniversary of the $25 billion national mortgage settlement made with the nation’s five largest mortgage servicers: Bank of America, JPMorgan Chase, Wells Fargo, Citigroup, and Ally Financial. Since then, the banks have barreled through their obligations at a rapid clip, leaving us with some concerns.
To explore the settlement’s progress, the Alliance for Stabilizing Our Communities, a partnership between the National Council of La Raza, the National Urban League, and the National Coalition for Asian Pacific American Community Development, hosted a summit featuring Joseph A. Smith Jr., an independent monitor of the national mortgage settlement.
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