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State of California Department of Justice
Rob Bonta
Attorney General
Attorney General
In 2013 and 2014, the Attorney General obtained broad-ranging settlements from three major banks (Bank of America, Citibank, and JPMorgan Chase) related to the packaging, marketing, sale, and issuance of residential mortgage backed securities (RMBS). While each settlement is different, all of the settlements provide reductions in principal balances, reductions in interest rates, and other relief to qualified homeowners. The settlements also appointed monitors to oversee the banks to make sure they comply with the settlement terms.
For more information about the monitors’ roles and to view the monitors’ reports on the progress made by the banks in meeting their settlement obligations, please visit the monitors’ websites:
A copy of the settlement agreement with each of the three banks can be found below:
Homeowners who may be eligible for relief under the settlements have been or will be contacted by their bank.
To find out if you may be eligible for relief, please contact your mortgage servicer. You can use the following toll free numbers:
If you do not qualify for relief under the RMBS settlements, other options may be available to you. For assistance in requesting a loan modification or other relief, you can contact a HUD-approved housing counselor. A list of HUD Approved Counseling Agencies in California can be found here or you can call 1-800-569-4287 to find a counselor near you.
Foreclosure prevention and homeless counseling services are available free of charge. Be wary of anyone who tries to charge you money for these services and be sure to research someone’s reputation and business practices carefully before paying anyone for these services.
Under the settlements, banks may donate properties to servicemembers with disabilities or to relatives of deceased servicemembers. For more information please contact the banks directly at the numbers below:
The Attorney General reached settlements with the following three banks: Bank of America, Citibank, and JPMorgan Chase. Several of these banks are or were also known by other names, including Countrywide (a trade name for Bank of America); Washington Mutual and EMC Mortgage (JPMorgan Chase); and CitiMortgage (Citibank).
The Attorney General may also reach settlements with other banks.
On your monthly mortgage statement, look for a contact phone number to ask who services or owns your mortgage loan.
There are also tools on the Internet that may help you find this information. You may be able to learn the name of your servicer through an online database known as the MERS registry. Not all loans are included in the registry, but searching it is free. You can search the MERS database by going online to MERS ServicerID
You can also use the Internet to find out if your loan is owned by either Fannie Mae or Freddie Mac. Most loans in the United States are owned by these two companies. You can use Fannie Mae’s Loan Lookup or call 1-800-732-6643 to see if Fannie Mae owns your loan. You can also use Freddie Mac’s Loan Look-Up Tool or call 1-800-373-3343 to see if Freddie Mac owns your loan.
You can file a complaint with the California Attorney General’s Office online, or by sending a letter to:
You can also file a complaint with the Consumer Financial Protection Bureau (CFPB) online. The CFPB is a federal agency responsible for consumer financial protection.
You may also wish to report your complaint to the Financial Fraud Enforcement Task Force online, or by calling 1-202-514-2000. The Financial Fraud Enforcement Task Force is a broad coalition of federal, state, and local agencies assembled to combat financial fraud.
If you have a complaint against Bank of America related to the RMBS settlement, you may contact the settlement monitor by sending an email to info@mortgagesettlementmonitor.com or by sending mail to:
Yes. The Attorney General fought hard to prevent a release of claims by individual consumers. This means that even if you get a loan modification or other relief under one of the RMBS Settlements, you may still sue the banks for any legal claims you may have.
No. The Attorney General’s Office is not able to give you legal advice or any other advice on this matter. If you would like legal advice, please consult a private attorney or a legal aid attorney.
You may obtain a referral to a certified lawyer referral service by contacting the California State Bar at 1-866-442-2529. You can also find a list of certified Lawyer Referral Services by county. You can also download the California State Bar Association’s booklet about how to find the right attorney.
If you cannot afford a private attorney and qualify for legal aid, you may consider contacting your local legal aid office. For a referral, visit the Legal Services Corporation website and enter your city/state or zip code information in the “Find Legal Aid” search box.
Yes. You can file a complaint with the California Attorney General’s Office online, or by sending a letter to:
You can also file a complaint with the CFPB. The CFPB is a federal agency responsible for consumer financial protection.
You may also wish to report your complaint to the Financial Fraud Enforcement Task Force online, or by calling 1-202-514-2000. The Financial Fraud Enforcement Task Force is a broad coalition of federal, state, and local agencies assembled to combat financial fraud.