RI AG reports on national mortgage settlement in RI, says banks must do more to comply

PROVIDENCE, Rhode Island — Rhode Island's attorney general says nearly 2,100 homeowners in the state have received a total of $150 million in relief through the national mortgage settlement but that banks have more to do to comply with the settlement's terms.

Peter Kilmartin reported Tuesday on the progress made through the end of March by the five mortgage providers that are part of the settlement.

The average amount of assistance in debt forgiveness, principal refinancing or other programs in Rhode Island is $72,700.

About 1,000 more homeowners in Rhode Island are either in the approval or trial phase of lien modification relief programs.

Kilmartin says his office receives homeowner complaints indicating banks aren't fully compliant with the terms of the settlement. He says he's reporting those issues to the national settlement monitor.

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