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ND gets $3M in foreclosure-abuse settlement

BISMARCK (AP) -- North Dakota will use its share of a $25 billion multistate settlement with five mortgage lenders to boost housing in the western Oil Patch.

Attorney General Wayne Stenehjem said that North Dakota will get a direct payment of about $3 million. He said his plan is to develop a program with private industry to increase housing in oil country, particularly for newly hired law officers and emergency responders.

The multistate deal is over foreclosure abuses that occurred after the housing bubble burst. It also includes loan term modifications and other forms of assistance, but Stenehjem said North Dakota didn't suffer as much as most other states.