More than 10,000 Massachusetts borrowers will receive checks in the mail next week totaling around $16 million as part of a national mortgage settlement, Attorney General Martha Coakley announced today. 

The total relief exceeds original estimates by more than $1.3 million and is a result of a settlement with the five major lenders over unlawful foreclosures. Each homeowner approved by the settlement administrator will get a check in the mail for approximately $1,480 as early as next week. A total of 11,153 checks will be sent to Massachusetts borrowers representing 10,731 individual loans.

Nationally, the settlement administrator will mail valid claim payments to 962,278 loan records from June 10 through June 17.

In February 2012, 49 states’ attorneys general and the federal government announced the joint state-federal national mortgage settlement with the country’s five largest mortgage servicers. Preliminary data reported by the five major lenders shows that, so far, the servicers have provided more than $50 billion in relief to borrowers nationwide including principal reductions, loan modifications, second lien forgiveness and refinances of underwater mortgages.

As of May, Massachusetts homeowners already received more than $637 million in total relief during the first full year since the settlement, according to numbers provided by the five major banks. The self-reported data includes raw numbers about completed relief and ongoing trial loan modifications that have not yet been audited by the national monitor for compliance with the court ordered settlement.

Coakley also obtained $44.5 million in funds for Massachusetts as part of the national settlement. A significant portion of these funds is being used to support Coakley’s foreclosure prevention and borrower support initiative called HomeCorps.