The Massachusetts state employees' pension fund is receiving more than $11 million dollars as part of a settlement with Countrywide Securities Corp.
Attorney General Martha Coakley announced the settlement Monday as part of her office's industry-wide review of residential mortgage securitization practices in Massachusetts.
The total settlement with Countrywide is $17.3 million. It includes a $6 million payment to the state.
The pension fund can also expect to receive another $7 million early in 2014 as a result of a recent $34 million settlement with JPMorgan announced by Coakley's office last month.
The settlements with Countrywide and JPMorgan are the latest in a series of six settlements with total payments of more than $300 million.
Coakley says the actions help hold Wall Street accountable for its role in the subprime lending crisis.
Copyright 2013 Associated Press. All Rights Reserved.