HUD Archives: News Releases

HUD SECRETARY DONOVAN RELEASES STATEMENT ON SETTLEMENT WITH JP MORGAN

WASHINGTON, D.C. - Following today's announcement by the Department of Justice on reaching a settlement with JP Morgan, HUD Secretary Shaun Donovan released the following statement:

"I'm proud to have worked with Attorney General Holder in negotiating a settlement with JP Morgan that will help Americans stay in their homes. President Obama's Mortgage Backed Securities Task Force was created to hold banks accountable for actions that led to the housing crisis and today was another important step in that process. This agreement ensures that accountability includes assistance to American consumers and communities hardest hit by the housing crisis by providing $4 billion in relief that could benefit more than 100,000 borrowers."

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HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov. You can also follow HUD on twitter @HUDnews, on facebook at www.facebook.com/HUD, or sign up for news alerts on HUD's News Listserv.