On March 18, the National Mortgage Settlement (NMS) Monitor Joseph Smith Jr., announced that four banks subject to the NMS satisfied the consumer relief and refinancing obligations established by the agreement. The monitor filed reports in the U.S. District Court for the District of Columbia certifying the banks’ compliance. The monitor had previously certified satisfaction by a fifth bank. The monitor stated that in many cases the banks exceeded the agreement’s requirement that the majority of the relief be provided through first and second lien modifications—among the five banks, 37% of credited total relief was in the form of first lien principal forgiveness and 15% was in the form of second lien principal forgiveness. Refinancing assistance made up 17% of total credited relief, while the remaining 31% of relief included assistance for short sales and deeds in lieu of foreclosure.