Monitor of the National Mortgage Settlement, Joseph Smith, said the five banks reported to extended $26.11 billion in gross relief to more than 300,000 borrowers. This results in roughly $84,385 per homeowner (full breakdown below). Smith’s first progress report in August disclosed $10.5 billion in relief.

Bank of America (BAC), Wells Fargo (WFC), JPMorgan Chase (JPMM), Citigroup (C) and Ally Financial settled on terms with 49 state attorneys general and the Justice Department over robosiging foreclosure abuses. The settlement pays forward to distressed homeowners.

“The relief the banks have reported is encouraging,” said Smith. “But it is important to remember that no obligations will be met until I have reviewed, confirmed and credited them. I look forward to conducting that work in the coming months and reporting my findings to the public.” 

The report reveals $21.92 billion in consumer relief completed between March 1 and Sept. 30, 2012. An additional $4.2 billion is still in active trial modifications, according to Smith.

It is important to note that, while the numbers reported are more than the agreed $20 billion, it does not imply that the servicers have met their consumer relief requirement. Under the agreement, different forms of relief are deemed different amounts of credit. For example, short sales, which account for $13.1 billion of the relief thus far, will not be credited dollar for dollar.

For a full breakdown of the relief efforts, click on the chart below.