New York State will receive a guaranteed $136 million of the $2.7 billion hard cash settlement under a nationwide mortgage servicing agreement, and New Yorkers who fell victim to the foreclosure crisis will be eligible for an estimated $648 million in additional relief, officials said.
At the same time, the $25 billion federal-state settlement preserves New York’s right to pursue litigation against the Mortgage Electronic Registration System (MERS) and three of the nation’s largest banks, as well as actions that could arise from a continuing investigation, according to Attorney General Eric T. Schneiderman.
