Servicing

BofA leads in servicing settlement payouts

Bank of America (BAC) outpaced the other four lenders tied to the $25 billion national mortgage settlement. Per the Los Angeles Times:

The latest fully audited results credited Bank of America with 97% of its required $7.6 billion in consumer relief as of the end of last year, monitor Joseph A. Smith Jr. said. A report containing the findings was expected to be filed this morning with the U.S. District Court in Washington, D.C.  

Chase had delivered 76% of the $3.7 billion in aid it had promised, Wells Fargo 55% of its pledged $3.4 billion and Citigroup 46% of its $1.4 billion in aid, Smith said.

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