Blumenthal Statement on 25 Billion Agreement with Mortgage Servicers to Address Mortgage Loan Servicing and Foreclosure Abuses

(Washington, DC) – Senator Richard Blumenthal (D-CT) today released the following statement on the state Attorneys General $25 billion dollar settlement with mortgage servicers:

"I thank the Attorneys General for their diligent, dedicated work in pursuing the wrongdoing so prevalent in the banking and mortgage industry. This milestone agreement, culminating an investigation that I helped to start and initially lead as Connecticut Attorney General, is a positive next step forward that must be followed by more to provide relief to struggling homeowners and establish standards for mortgage servicers to help remedy the foreclosure crisis and prevent unfair lending practices. I remain focused and absolutely determined to continue my own efforts in the Senate to hold both mortgage servicers and federal regulators accountable, and will continue my work on our detailed Judiciary Committee review of the nation's leading mortgage servicers to help stop ongoing foreclosure abuses and fraudulent practices."