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Oklahoma AG to reveal homeowner checks from lenders

Attorney General Scott Pruitt plans to announce the size of the first checks going to current and former homeowners in connection with the state's $18.6 million settlement with the nation's largest lenders.

BY THE ASSOCIATED PRESS Published: October 15, 2012
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Attorney General Scott Pruitt plans to announce the size of the first checks going to current and former homeowners in connection with the state's $18.6 million settlement with the nation's largest lenders.

Pruitt will provide details of the settlement on Monday. More than 300 mortgage-related complaints have been filed with Oklahoma's attorney general's office in connection with the settlement agreement.

Practices banks engaged in that are covered under the settlement include robo-signing, where signatures were applied to documents without proper oversight, or dual-tracking, which involves banks guiding homeowners on adjusting mortgages while at the same time pushing ahead with foreclosure.

Oklahoma was the only state that did not sign off on a $25 billion settlement agreement with the nation's largest mortgage lenders, instead reaching a separate agreement with the companies.