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Recipients Of Natl. Mortgage Fraud Settlement

December 13, 2012, 11:46 AM by Angela Kennecke

Recipients Of Natl. Mortgage Fraud Settlement
SIOUX FALLS, SD -

South Dakota's share of the $25 billion settlement between states and mortgage companies for certain practices going on in the mortgage industry is being divvied up. 

The state received nearly $8 million in the settlement. 

$1.5 million of that goes to South Dakota borrowers in loan modifications.

Homeowners who were treated unfairly in the foreclosure process can get $2,000 in cash payments for a total of $1.3 million dollars.

The other $3 million of the settlement money has been divided up by a task force.

The top three recipients of the money are the South Dakota Home Builders Association; GROW South Dakota, an organization to help veterans get financing and buy homes; and the South Dakota Housing Development Authority. 

Review a complete list of where the money is going by clicking on the link below.

MortgageFraudSettlement.pdf

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