Oklahoma attorney general says mortgage notice is not junk mail

Attorney General Scott Pruitt said his office has received dozens of calls from people mistaking notices of a new mortgage settlement as a scam. Not so, he said.
by Richard Mize Published: April 3, 2013

Attorney General Scott Pruitt issued an unusual alert Tuesday about a new federal mortgage settlement from the U.S. Department of the Treasury:

It's real.

The attorney general's office has received dozens of calls from people confused about the settlement and postcards they received from Rust Consulting, thinking the cards were part of a scam.

Pruitt said the settlement is a legitimate agreement between the U.S. Treasury Department's Office of the Comptroller of the Currency and several mortgage servicers.

It is not related to the major national $25 billion mortgage settlement struck last year by the Justice Department, 49 states and Bank of America, Citigroup, GMAC, JPMorgan Chase and Wells Fargo.

Nor is the Rust Consulting settlement related to the separate $18.6 million settlement that Pruitt signed last year with the same banks and mortgage service providers.

AGBeat, a business news and information website, reported that 4.2 million people were sent the Rust Consulting notices on March 18 letting them know “that they will receive remuneration as a result of an agreement between federal banking regulators and 13 mortgage servicers.” Rust Consulting is the paying agent.


by Richard Mize
Real Estate Editor
Real estate editor Richard Mize has edited The Oklahoman's weekly residential real estate section and covered housing, commercial real estate, construction, development, finance and related business since 1999. From 1989 to 1999, he worked...
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Information

For more information, call (888) 952-9105 or go online to www.occ.gov/topics/consumer-protection/foreclosure-prevention/correcting-foreclosure-practices.html.

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