Relevant:
- Banks report $51 billion in consumer relief in mortgage settlement
- Banks find way to benefit from robo-signing scandal
- Senator on a Mission to Change the Way Short Sales Affect Credit Reporting
- People Are Still Losing Homes Under the Robo-Signing Deal
- 5 big lenders have cut mortgage balances by $1.3 billion, given total $10.6 billion in relief
2012-08-30 — businessweek.com
``Banks get credit toward the settlement for activities including reducing amounts owed on loans and cutting interest rates. While the firms also get credit from forgiving debts in a short sale, they get only 20 cents to 45 cents on the dollar for short sales, and there's a cap on how much credit can come from those transactions, officials said during the call. ''
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