So finally we see some reimbursement from these large companies on the travesty of the Sub Prime mortgages.... Just a small step, but a good direction!
BOSTON (AP) -- Investment banker Goldman Sachs has agreed to pay a $10
million fee and let some 714 Massachusetts homeowners rework their mortgages in
a settlement reached as part of a state investigation into subprime lending.
Attorney General Martha Coakley said the rewritten mortgages could save
about $50 million for residents across the state, the bulk of them living in
Boston, Brockton, Lawrence, Springfield and Worcester.
Goldman will
reduce the principal on first mortgages by up to 35 percent, and work with its
affiliate, Litton Loan Servicing LP, on refinancing terms.
http://www.huffingtonpost.com/2009/05/12/goldman-sachs-settles-sub_n_201929.html
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