The Alaska State Attorneys General and State Mortgage Regulators Reach $45 Million Settlement with PhD Mortgage Corporation is a resolution to a case in which PhD Mortgage Corporation was accused of violating state and federal laws related to mortgage servicing. The settlement includes a $45 million payment by PhD Mortgage Corporation to the states, with $3.4 million of this amount going to Alaska. The settlement also requires PhD Mortgage Corporation to implement corrective measures to improve their compliance with state and federal regulations. The settlement was reached after an investigation by the Alaska Department of Law, the Alaska Division of Banking and Securities, and other state mortgage regulatory authorities. This investigation found that PhD Mortgage Corporation had violated state and federal laws related to mortgage servicing, such as failing to properly document and record required information, failing to properly notify borrowers of their rights, and improperly charging fees and costs. The terms of the settlement include a $45 million payment by PhD Mortgage Corporation, with $3.4 million of this amount going to Alaska. In addition, PhD Mortgage Corporation must also implement corrective measures to improve their compliance with state and federal regulations. These measures include creating a consumer complaints process, providing additional training to their staff, and conducting an independent review of their mortgage servicing practices. The Alaska State Attorneys General and State Mortgage Regulators Reach $45 Million Settlement with PhD Mortgage Corporation is part of a larger effort by Alaska and other states to ensure that mortgage servicing companies are in compliance with state and federal laws. The settlement serves as a reminder to mortgage companies that they must adhere to the regulations set forth by state and federal authorities in order to avoid similar actions in the future.