Bank of America is almost finished with providing $7 billion in consumer relief required as part of its $16.65 billion settlement with the U.S. Department of Justice, certain federal agencies and six states to resolve claims over toxic residential mortgage-backed securities, collateralized debt obligations and an origination release on residential mortgage loans sold to Fannie Mae and Freddie Mac.

Per the newest report from Eric Green, the independent monitor of the settlement agreement, he approved $449,827,010 of consumer-relief credit in the most recent reporting period, July and August of 2016.

In total, Green’s team has conditionally validated $6,803,934,697 in consumer-relief credit; meaning Bank of America has reached 97% of its $7 billion obligation.

“Based on credit testing that is underway, it appears that Bank of America is on target to fulfill its obligations under the settlement agreement this year, well ahead of the four-year deadline,” Green said.

According to Green’s office, the consumer relief “appears to be going where the settling parties intended.”

Green said that 53% of all loan modifications to date have been in Hardest Hit Areas, with a large number of them directed at loans guaranteed by the Department of Veterans Affairs and the Federal Housing Administration.

Loan modifications and new loans have been directed to every state and the District of Columbia, and to 116,895 census blocks.

More than 5,000 affordable rental housing units – 68% for Critical Need Family Housing – are supported by 44 subordinated loans made at a loss to the bank, Green’s office said.

Green’s office added that a review of Bank of America’s relief shows that modifications for first-lien principal reductions, which are the largest category of intended consumer relief, are “significantly reducing” the financial burden on consumers.

According to Green, the average principal reduction on modifications to date is more than 50%, the average loan-to-value ratio dropped from 176% to 75%, the average interest rate cut from 5.38% to 2.10%.

Most importantly, according to Green, borrowers’ average monthly payment has been reduced by $599 a month, which represents more than 37%.

“This relief directly and materially assists homeowners struggling to afford to stay in their homes,” Green said.