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About the Settlement

    Home About the Settlement

    O

    n April 11, 2016, the United States Department of Justice, the States of California and Illinois, and The Goldman Sachs Group, Inc., as well as its current and former subsidiaries and affiliates (collectively, “Goldman Sachs”) reached an agreement resolving claims resulting from Goldman Sachs’ marketing, structuring, arrangement, underwriting, issuance, and sale of residential mortgage-backed securities.  Simultaneously, a separate agreement was reached between the State of New York and Goldman Sachs resolving alleged violations of New York law in connection with the marketing, structuring, arrangement, underwriting, issuance and sale of residential mortgage-backed securities by Goldman Sachs.  Together, the agreements are referred to as the “Global Settlement Agreement.”

    Under the Global Settlement Agreement, Goldman Sachs is required to pay $2.96 billion to the United States Department of Justice; $10 million to the State of California; $25 million to the State of Illinois; $190 million to the State of New York; $37.5 million to Federal Home Loan Bank of Chicago; and $37.5 million to Federal Home Loan Bank of Des Moines.  In addition, Goldman Sachs is required to provide $1.8 billion in consumer relief.

    Consumer relief may include repayment plans, loan modifications, settlements, short sales and deeds-in-lieu of foreclosure.  More information regarding consumer relief may be found by clicking here

    Under the Global Settlement Agreement, the Monitor was appointed to publicly: (i) report quarterly on Goldman Sachs’ progress towards completion of the consumer relief portion of the Global Settlement Agreement; (ii) report on credits earned by Goldman Sachs; and (iii) determine and certify Goldman Sachs’ compliance with the terms of the Global Settlement Agreement.  The Monitor must file his first quarterly report by September 16, 2016.

    Goldman Sachs must complete all consumer relief obligations under the Global Settlement Agreement by January 31, 2021.  Goldman Sachs is entitled to a 150% enhanced early incentive credit for first lien principal forgiveness offered or completed by November 30, 2016 (subject to restrictions outlined in the Global Settlement Agreement) and a 115% early incentive credit for all consumer relief activity offered or completed by June 30, 2017.

    The Monitor has retained Young Conaway Stargatt & Taylor, LLP and BDO USA, LLP to assist him in conducting his work under the Global Settlement Agreement.

    To read more about the Monitor, please click here.

    To read the Global Settlement Agreement, please click here.

    To Contact the Monitor

    Toll Free: 800-961-6417

    goldmansachsmonitor@​​​mortgagesettlementmonitor.com

    Monitor of the Goldman Sachs Mortgage Settlement
    PO Box 10310
    Dublin, Oh 43017-5910

    To Contact Rushmore
    Loan Management Services, LLC

    Toll Free: 888-504-7300
     

    To Contact Shellpoint
    Mortgage Servicing

    Toll Free: 866-825-2174
     

    To Contact Selene Finance

    Toll Free: 877-768-3759
     

    To Contact Specialized
    Loan Servicing, LLC

    Toll Free: 800-306-6059
     

    Select Portfolio Servicing, Inc.

    Toll Free: 888-818-6032

    Settlement Agreement Documents

    Global Settlement Agreement

    This is the site of the independent Monitor appointed under the Global Settlement Agreement between the United States Department of Justice, the States of Illinois, California and New York, and Goldman Sachs, resolving, among other issues, claims related to Goldman Sachs's practices concerning residential mortgage-backed securities. The Global Settlement Agreement provides that the Monitor shall be fully independent although paid by Goldman Sachs. In this capacity, the Monitor is not representing any of the settling parties and cannot represent or provide legal or tax advice to individual homeowners. Neither Goldman Sachs nor any of the settling parties is able to direct or control the Monitor's work or his exercise of discretion. Homeowners considering seeking mortgage modifications or other relief from Goldman Sachs under the Global Settlement Agreement may wish to obtain legal or tax advice from a lawyer or tax advisor of their own selection. Individual homeowners who desire such assistance but who do not know where to obtain it or cannot afford it may visit sites found on Additional Resources.


    © 2020. All Rights Reserved.
    This website and its contents are owned and maintained by the Monitor and are not owned by, or affiliated with, Goldman Sachs.
    Any inquiries about this website should be directed to goldmansachsmonitor@mortgagesettlementmonitor.com
    Goldman Sachs is an investor in residential real estate loans. These loans could be owned in the name of Goldman Sachs, or a Goldman Sachs affiliate MTGLQ Investors, L.P. Borrowers will see this name on statements they receive from the loan’s servicer. Goldman Sachs does not service residential real estate loans, but engages independent third parties to service loans that it owns. Goldman Sachs employs Rushmore Loan Management Services, LLC, Shellpoint Mortgage Servicing, Selene Finance, Specialized Loan Servicing, LLC and Select Portfolio Servicing, Inc. Contact information for these servicers is listed above.
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    Monitor of the Goldman Sachs Settement Agreement