Tagged: mortgage assistance

There was one little-noticed part of this week's announcement about the $25 billion national mortgage settlement. North Carolina's banking commissioner, Joseph Smith Jr., will take over a new role and serve as independent monitor. He'll oversee the five banks which agreed to new mortgage loan servicing and foreclosure standards.

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GUY RAZ, HOST:

Well, every single state in the country will get a piece of that $26 billion to help troubled homeowners keep their homes, every single state except Oklahoma. The attorney general in Oklahoma decided to opt out of the multistate settlement to hold banks accountable for questionable lending and foreclosure practices.

Scott Pruitt is Oklahoma's attorney general, and he joins me now on the line. Attorney General, welcome.

SCOTT PRUITT: Well, thank you, Guy.

From the beginning, Florida lawyer Tom Ice says he realized the mass signing of mortgages was more than just a paperwork problem.

"I suspected then, and I suspect now, that we were really just touching the tip of the iceberg," he says.