The NC state banking commissioner’s office today announced that some 4,800 North Carolina homeowners would be receiving a total of $11.5MM of refunds from Countrywide Mortgage as a result of “illegal charges†levied against the homeowners.
According to deputy banking commissioner Mark Pearce, “we found evidence that Countrywide overcharged thousands of North Carolina homeowners. This settlement provides for a full refund of any illegal charges identified in the course of our examination.â€
Countrywide, which was purchased by Charlotte, NC’s Bank of America in July did not admit any wrong doing as part of the settlement.
In addition to the $11.5MM settlement, Countrywide also agreed to give $2 million to several NC non-profit housing counseling agencies that help struggling homeowners work out payment plans with their lenders so they can avoid foreclosure. They will also give $900K to the Nationwide Mortgage Licensing System in order to help the state improve the licensing and regulation of mortgage lenders.
To see if you’re eligible for this refund, you can call the bank commissioner’s consumer complaint hotline at 1-888-384-3811.
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