Kentucky reaches $2.8 million settlement with national mortgage company
On Tuesday, Kentucky Attorney General Andy Beshear announced the settlement.
LOUISVILLE, Ky. (WDRB) -- It's a multi-million dollar settlement going back to Kentucky.
On Tuesday, Kentucky Attorney General Andy Beshear announced a $2.8 million settlement with national mortgage recording company MERSCORP Holdings Inc.
Kentucky sued the company because it named itself as a mortgage holder in public records when big banks were actually the mortgage owners, and didn't monitor the actions of those banks.
The money from the settlement will go back into Kentucky's general fund.
Beshear says he's recommending the money be used to support affordable housing and to help the budgets of local county clerks.
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