H&R Block Inc Agree to modify $115 million of home loans

H&R Block Inc  has been beset with allegations that the company’s former Option One subprime lending unit discriminated against thousands of black and Hispanic borrowers.

H&R Block Inc Agree to modify $115 million of home loans

H&R Block Inc  Agree to modify $115 million of home loans

Now at last they have taken action and addressed these issues – quote – The settlement calls for H&R Block to direct American Home Mortgage Servicing Inc to modify as many as 5,500 eligible Option One loans it services in Massachusetts. – more – It also provides a $5 million contingency for modifications that cannot be made. The $9.8 million payment includes restitution for consumers, as well as fees and costs.

‘Yet another US Housing Project with companies involved in dubious practices’

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H&R Block

http://www.hrblock.com

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