Mortgage settlement could affect nearly 150,000 Michigan residents

LANSING, MI (AP)--   Michigan Attorney General Bill Schuette says about 148,000 state mortgage customers who lost their homes to foreclosure are being sent claims forms as part of a $25 billion national settlement of complaints about improper conduct by lenders.

Schuette said Tuesday that those eligible to share in the settlement lost their homes to foreclosure in 2008-2011. He says his office continues to look at possible criminal actions involving what are called "robo-signing" practices in foreclosures.

Robo-signing involves people signing documents without proper review.

Eligible borrowers had mortgages serviced by Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo. The companies agreed to the settlement with the federal government and attorneys general for 49 states and the District of Columbia.