Independent Foreclosure Review Payment Agreement Details

Office of the Comptroller of the Currency

Independent Foreclosure Review Payment Agreement Details

The table below provides number of eligible borrowers and payment amounts in each category for borrowers covered by the Independent Foreclosure Review Payment Agreement. The agreement was announced in January 2013 between federal banking regulators — the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System — and 11 mortgage servicers. More information about these agreements is available from the regulators’ Web sites — www.occ.gov and www.federalreserve.gov. The table contains only standard payout amounts; it does not include amounts for lost equity, which borrowers in the first and third categories may receive in addition to the standard payout amounts, or the payments calculated on a case-by-case basis in the second category. This table excludes borrowers whose mortgages were serviced by Goldman Sachs and Morgan Stanley.

~

4closureFraud.org

~

Independent Foreclosure Review Payment Agreement Details

 

Comments
57 Responses to “Independent Foreclosure Review Payment Agreement Details”
  1. Marc says:

    were you able to keep your payment? I am in Chapter 13 also!

  2. tutus says:

    Just an update for those that received a small check from Rust, they will be mailing a supplemental check on May 17,2013 to many payees that received the wrong amount of compensation.For more information here is the link. http://www.bizjournals.com/charlotte/blog/bank_notes/2013/05/ny-times-consultant-bungling-mortgage.html

  3. joe says:

    what a joke,I got a check for 500.00 only in america what time the next bus leave.

  4. Jeni says:

    Well we got our $300 check today, we too got screwed by Goldman Sachs/Litton Loan. We completed one trial mod, was put into another, made the first 2 payments and received ANOTHER set of paperwork for higher mod payments 2 days later. Thanks for nothing!

  5. sadie says:

    Where were loans from? They foreclosured on my fathers house after he passed away even when I made payments I haven’t received check yet

  6. Lance Dalton says:

    I received my check today for $500. What a slap in the face this whole process is. I had a modification approved then two days later they said they changed their mind and denied the modification. I qualified for $6000 because I filed for review. Well, today I got a check for 500 which is a big slap in the face. JOKE big JOKE. The OCC and Ben Bernanke friends all saved these banks. These checks are an slap in the face to those they screwed. Aurora had my loan.

  7. Lisa Stone says:

    I was foreclosed and went through the trial period for three months and I only received $300.00, according to the chart it should have been more. It was foreclosed in 2009 in the trial was 2010. I am confused can someone please enlighten me for the categories.

  8. Tutus says:

    $12,000 Check! Yes! After making me do 3 different loan modifications and still foreclosing on our home.

  9. GB says:

    Everyone should just be gratfull if they get anything..bottom line you borrowed the money and if you couldn’t pay the payments it is your fault..yes things happen but you still owe the bank! For an example people who rent out homes..don’t you want your money! people think the world owes them something because they can’t pay for something..I was part of this and do not blame the banks. I’ll take anything they give me!

    • ile george says:

      people that were making all the payments on time were foreclosed on, that is why theybare getting 125 k, as far as the rest, the modification was only for hardship layoffs, medical reasons, not for just anybody, all the banks had to do was refinance the loans , but they chose to throw these people out and resell at a much lower rate. Alot of people were paying on time but wanted to Refinance and the banks would not do it. This isn’t a hand out if anything the banks were the biggest winnersvin all this, they foreclosed on people who had bankruptcy protction , they violated the laws that we have in place and nobody did anything to make sure they were held accountable. They turned down 80 percent of the modifications but took the govt money.

    • BW says:

      Hey GB. Educate yourself. There were people that were foreclosed on or that had a foreclosure started on a home that WAS NOT in default – get it? Read one of the court cases against ASC in Florida and look at what was a real messed up environment. Nothing happened that should have. Some of these servicers were starting foreclosures on people’s homes and their company (who the servicer worked for) did NOT even own the home. I really hope you don’t vote, because it is people that are ignorant as to what is going on that are steering the ship the wrong way. Further, while servicemen were getting limbs blown off overseas in a war to protect YOU and ME, they didn’t have time to call BOA, Chase, or whomever a billion times long distance from Iraq to follow up on their situation.

    • John gudzelak says:

      Hey GB, it seems you are stuck in your own little world.Have you ever had anything that happened to you like lost your job,got deathly sick,got in an accident and couldn’t work and your pay was cut by 3/4 of what you were making prior to falling behind on your obligations?Then when that does happen you have a greedy bunch of backstabbers (that’s what they do to each other) handle the most important investment in your life?And how would you like someone lie to you,give you the run around,and cheat you out of your house,which contains equity,and you’ve invested money into?most of us were paying our payments,and on time,but went to refinance through a bank you trusted,and at closing,showed you one thing and then robo signed papers that were totally different?Took $7,000.00 of your life savings,told you it would only cost you $400.00 to refi your house and send you back a check for $36.00,impounding all the other funds you put out?Then you ought to change your tune.Opinionated people such as yourself is one of the problems this world has,and to have no empathy for anyone else is very shallow thinking.Maybe you should keep your opinions to yourself.And I bet if something happened to you you wool be the first to complain.So think what you want,put down what you want,just goes to show you have no heart…my answer to you is GO AWAY and do us all a favor…!!!

    • cathy skinner says:

      Hey GB. I do believe there is a portion of the 4.2 million people that got foreclosed on that deserved to get foreclosed on – meaning, in no way did they default or have the bank do them harm, but simply stopped paying a debt. But there is a MUCH larger portion of that 4.2 million people that had their home stolen from them by errors from the bank. In my case (as in MANY others I have read) the bank took my PITI payment (monthly principal, interest, taxes and insurance) and pay their own fees associated with my modification with it. I paid ON TIME every month and then got a letter that I was 5 months behind. I made my payments, the bank had no right to take them and apply them else where (and, yes, it says so in my mortgage note). It would be like paying your landlord rent and on the 15th getting an eviction letter….so you call your landlord and he says “well I had to pay some bills so I took your rent payment and used it, therefore, you did not pay me rent”. Well, the landlord would get in a bit of trouble for that, correct? And, yet, the bank did the EXACT same thing to me and I no longer have a home that I built from the ground up. So, please, remove yourself from your high horse and realize that the vast majority of the 4.2 million people that lost their home did not deserve to have it taken – once you get down from that horse, you might like the view – there are a lot more people down here than up there.

      • I know exactly what you mean, and how you feel. But its not just the banks that are underhanded. Let me tell you a bit about my story. I bought from a private seller, and she carried the loan, but in 2011, she decided to send me a default notice, i was not in default, but she would not respond to my letters, and she fraudulently foreclosed, cuz i didn’t have the money for a fancy attorney , i filed bankruptcy, had a bad atty as my bankruptcy atty, and he neglected deadlines my case was dismissed after 14 months of fighting, and the trustee sale was final on Apri;l 19, 2013..i am now being forced out, but I am not done yet. I will file for breach of contract, and now i have learned enough to do it Pro Se , and no more lawyers that steal and don’t do anything. So a person can loose a home even from a crooked PRIVATE seller/lender.
        Beware of them too !

    • lari says:

      GB you’re an idiot. The economy fell and hundreds of thousands of jobs were lost. Who’s fault was it? Wall Street. The banks lost nothing and were bailed out by taxpayer dollars. Got a clue yet?

  10. Tony Bretz says:

    Someone is lining their pockets with money. Too bad it not us homeowners that were forced out of our house’s. I think this scam is bigger than the one the banks pulled in the first place. Whatever it is what it is. I bought another house and moved on with my life. Citimortgage can kiss my ass.

  11. Tony Bretz says:

    Got me $300.00 check today. What a joke ! I lost my home due to Citi’s screw up and they make it right by giving me a check for $300.00!

  12. KIM says:

    I got a check for $500.00 dollars and Chase took my house and sold it at 1pm but luckly I was told to go to the court house that morning before the sale and file bankruptcy and stop the sale so i got to the courthouse 7am before going to work and waited till they opened up and I was the first one in the door and I explained to the lady at the desk that I was trying to save my house, so she helped me by giving me the paper work I needed to stop the sale of my house and she quickly took my paper work and @ 10am that morning a judge put in a stay order and Chase sold my house and someone bought it but thank GOD for me getting the stay because they had to rescind the sale and I am still in my house, but then Chase sold my loan and I still don’t have a mod. but Wow I got that big check for $500.00 what a slap in the face for all my trouble I have legal aid at my job I pay for but trying to get a lawyer from Maryland to take the case is very hard but I am not going to give up I come to far to turn back now.I just thank GOD because it has taken alot of prayer to stay in my right mind but I know it will workout because this has been since Oct.2008 and I have been on some type of payment plan, but what does not kill you will make you strong so my advice to all is hold on and keep fighting and doing what you think is right for your situation because for me I am going to keep on praying and I know that it was prayer and that is what has kept me this far because though disappointed I have faith in do season they will reap what they sow and you can’t do evil to people forever so this to shall pass! I don’t mean to offend anybody, but I love my GOD JESUS CHRIST and I know I had to give my testimony to make someone else strong so they to can hold on and have peace and joy through it all, because its just a storm.(what GOD has for me is for me)Peace and Blessings to all.

  13. Bob says:

    Can you keep your payment if you’re under chapter 13 protection?

  14. lv says:

    I got $400.00 check after trial period of 3 monthe then they return my 3rd payment. It’s a joke.

  15. someone knot on door and told me to ive didnt no i was in foreclosure they turn my light off and so my home ididnt have no where to my mom had pass away so i move in ther and lost most ever thing i had mom house is fallin down but i have no where to go

  16. It_is_what_it_is says:

    I hope this will help someone figure out the category they are in.

    I got 2 checks for two properties that went in foreclosure (completed stage). One for $3,000…I think I fell in category where my modification request was denied and one for $300 because bank did not engage in a loan mod or other loss mitigation. I did not request a review on any of the properties.

    It is what it is. Better than nothing.

  17. Unhappy_owner says:

    Unfair and deceptive. Wake up everyone.

  18. toddsullivan says:

    Wow – I just received $500!
    Now, I had lost my job and when I asked BofA what I should do, they would only demand that I make up the past 1 month payment before they would talk to me. While I was looking for work, BofA would only demand full payment. After numerous harassing calls and no help whatsoever (and I asked for a loan modification many times), I felt pressured into filing bankruptcy. As we filed the BK, a BofA representative told us that we would have to short sale our home. Once our BK was being reviewed by the court, we contacted BofA and requested that they send the home to the foreclosure auction in the BK proceedings as we did not want to be liable for the house.
    The negotiator and his supervisor actually told me that they would not send the property to auction and as I was liable for the house – it was up to me to short sale my home after having to file a Chapter 7.
    I packed up my family and moved 2,000 miles to find work and start over.
    It took another two years to close the short sale and the entire time BofA refused to send the property to the foreclosure auction. It finally closed in 2011 and thank god nothing bad happened during that period where I was still liable (except the house was stripped by vandals, the radiator heating froze and burst and the house probably suffered $100K plus in damage).
    In 2012, a detective called me. He was investigating my loan for loan fraud by Countrywide. I met with him and when I looked at my loan papers, there was very little financial information that I had supplied to the Loan Originator.
    It was a bad application.
    I was one of the 433,000 +- applicants that applied for a review under this program.
    You can imagine how I felt when I received my $500 check.
    Luckily, I still retain my rights to independently sue BofA. Right…
    Shame on me.
    I always thought that our government worked for us and would try to right wrongs. The last several years I have awakened to how our government and big business works.
    I’m a well educated and conservative family man. But in the future, I’ll buy guns and gold. Guns can always be traded and sold for similar pricing to what you paid for them and gold is always good.
    Stay independent and don’t believe what you are told.
    Thanks for reading my journey,
    Tsull.

    • hoffy says:

      Totally understand…PNC/National City, similar lay-off scenario, project management (PM) contracts were not coming in, I asked them for a four month forbearance…it was 2008-2009, companies started to freeze funds making it hard to find work…so, with the grace of God, I was able to obtain work within three months; however, National City placed me in foreclosure, this ruined my credit score, making insurance rates higher, interest rates higher, and hard to find a career that was perm position versus my profession, PM. Lets discuss huge financial injury (took 50% pay cut), wrongful foreclosure, and making higher (on-time) payments including their lawyer fees. They still will not modify my loan…they want another $7K for payments to their lawyer….mind you, I still making payments, on time…2015 the foreclosure should be off my credit score.
      You are so correct, government has no humility…only greed…and many could give a crap if the middle class ever makes it in this insane democracy.
      I’m now seriously ill from the four year fight, the stress this has caused on me, and my family is large. I’m a fighter, main reason I’m still in house. I did take a 50% cut in pay to show I had a 40 hour a week job. Guess when you have degrees and certifications that you can actually make good money, the mortgage companies think of self-employed beings as losers versus success driven adults.
      So, Rust consulting sent me a $500 check stating NO FINANCIAL INJURY, really!
      Insane…

      Thank you for sharing you information….

  19. A Hernandez says:

    Independent Foreclosure review board – What a JOKE!! That’s the Fox garding the Hen house.

  20. calvin dixon says:

    iCalvinDixon this is bullshit these bankers are just college educated dressed up thieves and they have not stop being fraudulent they screwed in 2009/2010 sold my loan and now their subsidiary is doing it all over again, they just foreclosed on me again saying i owe almost 7 grand but i found the paperwork and only owe 700 hundred dollars but i have since paid almost 7 grand for a lawyer that i should not have had to hire but after 1 year i was hoping to see them in court but they keep asking for continuances but i will see the in court soon and have my house returned to me.

    • Olevia says:

      Calvin Dixion a similar thing happen to me. I was already protected under bankruptcy law then all of a sudden I’m getting letters from the subsidiary company informing me that foreclosure proceedings will take place. I sent the correspondence to my attorney and those ugly notices stopped. Im just curious to know how much the check is going to be.

Leave a Reply