By Ben Lane, Housing Wire, March 4, 2019
Goldman Sachs recently surpassed the $1.25 billion mark in the $1.8 billion in customer relief the company is required to provide as part of its $5 billion settlement reached in April 2016 over toxic mortgage bonds.
The latest update comes courtesy of Eric Green, who serves as independent monitor of the settlement.
According to a new report from Green’s office, Goldman Sachs forgave a total of $82,828,355 in principal on 736 first-lien mortgages for average principal forgiveness of $112,539 per loan in the last few months.
Due to crediting calculations and multipliers, Goldman Sachs received total credit of $84,445,523 for those actions.
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