California must repay national mortgage settlement cash used to balance state budget

The National Asian American Coalition (“NAAC”), won a decisive victory for homeowners July 18th, 2019, as the California Supreme Court denied review of a lower court ruling ordering the return of $331 million to the National Mortgage Special Deposit Fund (“NMSDF”) – a special fund created to pay for housing counseling, legal assistance, and fraud prevention services for financially distressed homeowners.