Bank of America, Chase, and Citigroup have all finished compliance reviews mandated by the National Mortgage Settlement. This new is coming off the December 2013 release that all 3 banks had failed 2 or more of the 29 required metrics for compliance.
"Bank of America continues to work hard to ensure that our customers in need of assistance know they are being treated fairly and receiving timely and accurate decisions," said a spokesman for Bank of America.
"We've worked very hard to meet the servicing standards and have helped more than one million families avoid foreclosure over the last five years," said a spokeswoman for J.P. Morgan.
"Citi remains committed to fulfilling the terms of the National Mortgage Settlement for the best interests of our clients, and we are pleased with the results announced in today's report. One of our top ongoing priorities is to help distressed borrowers in their efforts to avoid potential foreclosure or explore other appropriate solutions to assist them," said a spokesman for Citigroup.
