Business Briefs: Settlement gives Tennessee $27 million

Business Briefs: Settlement gives Tennessee $27 million

June 5th, 2013 by Staff Reports and Wire Service in Business Around the Region

Settlement gives Tennessee $27 million

Tennessee residents who submitted a valid foreclosure claim through the National Mortgage Settlement will share in $27 million to be distributed next week to Tennesseans hurt by abusive mortgage servicing activities during the Great Recession. The average recipient will receive $1,480, Tennessee Attorney General Bob Cooper said Tuesday. Eligible borrowers include those who lost their home to foreclosure between Jan. 1, 2008, and Dec. 31, 2011, and had their mortgage serviced by Ally (formerly GMAC), Bank of America, Citi, JPMorgan Chase or Wells Fargo.

"Although we realize this does not make up for the stress and frustration many borrowers suffered, these payments will help compensate foreclosed borrowers for the mortgage servicing abuse that they likely endured," Cooper said.

Print group aids campaign

Fort Ogelthorpe's Visual Print Group & Design provided billboard displays for an advertising campaign that recently won a 2013 Adweek award for "genuine invention."

VPG provided the high-quality printing for outdoor ads displayed as part of a Ben & Jerry's campaign to thank Instagram users with its "Capture Euphoria."

Consumers sent in more than 80 million photos in response to an appeal for people in states of euphoria over Ben & Jerry's ice cream. The best photos in local markets were displayed on billboards printed by VPG through a contract with the Minneapolis ad agency, Haworth Marketing + Media.