Settlements from two consumer protection lawsuits entered into by Attorney General Ken Cuccinelli have added $4.7 million in new revenue to the state's general fund budget.
The first was a multi-state settlement with Lender Processing Services, LLP, which provides technological services to banks, over "robo-signed" mortgage documents. This settlement garnered the state $3.5 million.
Both settlements are expected to come in July 1.
"I wanted you to be aware of this information as you made your decisions regarding the budget," Cuccinelli wrote to Gov. Bob McDonnell and leaders of the General Assembly money committees Wednesday. "Obviously, there is risk in budgeting this money until we actually have it because events beyond our control (e.g., if one of the settling companies were to go into bankruptcy) could lead to the full amounts not being paid."
While he has no say in the budget appropriations process, Cuccinelli has asked that a portion of teh $3.5 million settlement be spent to "address housing issues."
A press release from the presumptive GOP nominee for governor's office noted that this is the fourth time in the last six months Cuccinelli's efforts as attorney general have added to the state's cash flow - including $8.6 million in August and $4 million and $3.3 million in October from settlements.
This puts Cuccinelli's fund raising efforts for the state general fund in the past six months at more than 420 million.
In his efforts to succeed McDonnell in the Executive Mansion, Cuccinelli has raised a just under $2 million to date.