Attorney General Sam Olens announced that approximately 18,255 Georgia borrowers received mortgage relief totaling $942,103,278 as a result of the National Mortgage Settlement with the nation’s five largest mortgage servicers. On average, Georgia borrowers were provided $51,600 in relief in the form of mortgage modifications and refinancing.
The figures for Georgia are part of a larger report released by the independent monitor outlining consumer relief under the settlement between March 1 and December 31, 2012. According to the report, based on self-reported data submitted by the five servicers, $45.83 billion in gross relief has been extended nationally. The monitor has not yet certified the data.
The full report is attached. Additional information on the settlement is available on the National Mortgage Settlement website.