The lender is mailing out rate-reduction offers in waves, meaning that some borrowers already might have received their letter, said the office of Attorney General Douglas F. Gansler.
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The other companies that settled with attorneys general across the country — Ally Financial (formerly GMAC), Bank of America, Citigroup and JPMorgan Chase — will send similar letters to their borrowers later, Gansler said. The agreement was struck to settle allegations of widespread mortgage servicing and foreclosure misconduct, including "robo-signing" court documents en masse.