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OCC: $2.6B foreclosure review checks cashed

The Office of the Comptroller of the currency (occ) announced the second wave of payments resulting from the foreclosure settlement with federal regulators and 13 servicers was sent Friday. The most recent batch of relief payments includes 1.4 million checks totaling $1.2 billion. So far, 2.8 million checks amounting to $2.4 billion have been sent.

 · This is not the first mistake reported in connection with the foreclosure review checks. The Fed said in April that some borrowers had trouble cashing their checks, but.

As of January 2017, the Independent Foreclosure Review (IFR) Payment Agreement has concluded. In 2013, fifteen mortgage servicing companies subject to enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing reached an agreement with the Office of the Comptroller of the Currency (OCC) and the Board of Governors of the Federal Reserve System to provide.

The cashed checks are valued at $2.4 billion and are part of a foreclosure review settlement reached between federal regulators and 13 servicers. The servicers-Aurora, Bank of America, Citibank, Goldman Sachs, HSBC, JPMorgan Chase, MetLife Bank, Morgan Stanley, PNC, Sovereign, SunTrust, U.S.

If you want to verify that your eligible for a cash payment as a result of the Independent Foreclosure Review Settlement you can do so by contacting RUST, the Independent Foreclosure Review Administrator, at 1-888-952-9105, Monday through Friday, 8 a.m. – 10 p.m. ET or Saturday, 8 a.m. – 5 p.m. ET.

Waters, Warren, Cummings Call on OCC, Fed to Release Information on Mortgage Servicing Settlement. strongIn the absence of a long-promised public report, leading Democratic Members of Congress have called on federal regulators to disclose critically important information related to the Independent Foreclosure Review (IFR) process for 14 mortgage servicers and the $9.3 billion settlement that.

Replacement checks are being mailed this week to borrowers eligible for payment under the Independent Foreclosure Review Payment Agreements and who have not yet cashed or deposited their check, the Federal Reserve Board and the Office of the Comptroller of the Currency announced Wednesday. Find resources for bankers. Get answers to banking questions. Join one of the best places to work.

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OCC: $2.6B foreclosure review checks cashed OCC to Escheat Funds from the Foreclosure Review, Terminates Orders Against Three Mortgage Servicers, Imposes Restrictions on Six Others – WASHINGTON, June 17, 2015 /PRNewswire-USNewswire/ – The Office of the Comptroller of the Currency.

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