by Calculated Risk on 2/13/2012 08:49:00 AM

SNL Financial put together a list of the settlement by state.

From Lindsey White and Sam Carr at SNL: In foreclosure deal, California, Florida come out on top

The accounting in the settlement is somewhat confusing. The much-quoted $25 billion figure includes $17 billion that banks must spend on a variety of programs to help beleaguered borrowers. Banks will receive credits for each dollar spent. "Sometimes they get a dollar for dollar credit, sometimes they get 45 cents on the dollar, sometimes they get 10 cents on the dollar," Iowa Attorney General Tom Miller explained during a press conference. "The benefit to homeowners on the full dollar amount is $32 billion." In addition, the deal includes $3 billion dedicated to refinancing loans and $5 billion to be paid to federal and state governments.

Using these figures, the settlement totals closer to $40 billion. California will receive up to $18 billion ... Florida Attorney General Pam Bondi estimated that her state will get $8.4 billion in the deal.

The housing markets in Arizona and Nevada were also hit hard by the crisis. The states stand to receive $1.6 billion and $1.5 billion, respectively.

See the article for the list.

Weekend:
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