A Review and Assessment of the National Mortgage Settlement by Its Monitor Joseph A. Smith Jr.

in STOP FORECLOSURE FRAUD

A REVIEW AND ASSESSMENT OF THE NATIONAL MORTGAGE SETTLEMENT BY ITS MONITOR JOSEPH A. SMITH, JR.*

Since April 2012, I have served as Monitor of the consent judgments commonly known as the National Mortgage Settlement (the “Settlement”). The obligations of the mortgage servicer parties to the first five of such judgments1 were satisfied in March 2016. Three consent judgments under the Settlement’s structure remain in effect.2 Although the mortgage servicing settlement process is ongoing, completion of the first five consent judgments is an appropriate vantage point from which to review the Settlement and assess its impact and significance. This Article provides such a review and assessment based on my work as the Settlement’s Monitor. [...]

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