OCC: Independent Foreclosure Review Agreement Payments Underway

Office of the Comptroller of the Currency

Independent Foreclosure Review Agreement Payments Underway

WASHINGTON — Nearly 50,000 checks totaling nearly $50 million relating to the Independent Foreclosure Review Payments have been cashed or deposited as of close of business on Monday (April 15), according to officials at the Office of the Comptroller of the Currency.

Notice to Financial Institutions

Institutions processing checks are reminded that to help prevent fraud, checks require positive identification.  Banks and other financial institutions should follow the instructions provided on the back of the check to validate authenticity.

Borrowers Assistance

Borrowers with questions regarding payments should contact the Paying Agent—Rust Consulting, Inc. at 1-888-952-9105, Monday through Friday, 8 a.m. – 10 p.m. ET or Saturday, 8 a.m. – 5 p.m. ET.

The payments are part of agreements between federal regulators and 13 servicers to provide $3.6 billion in cash payments to borrowers whose homes were in any stage of the foreclosure process in 2009 or 2010 and whose mortgages were serviced by one of the following companies, their affiliates, or subsidiaries: Aurora, Bank of America, Citibank, Goldman Sachs, HSBC, JPMorgan Chase, MetLife Bank, Morgan Stanley, PNC, Sovereign, SunTrust, U.S. Bank, and Wells Fargo.

Checks will be sent in several waves.  The first wave of 1.4 million checks was sent on April 12.  The final wave is expected in mid-July 2013.  More than 90 percent of the total payments to borrowers at those 11 servicers are expected to be sent by the end of April.

Related Link

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SOURCE: http://www.occ.gov/~


15 Responses to “OCC: Independent Foreclosure Review Agreement Payments Underway”
  1. denise harris says:

    I had to send back my check to be reissured, because my father is decease. How long will it take to reissue my check. It has been several months.

  2. Michelle Washington says:

    Foreclosures show on credit report. You can buy another house in two years. There’s no way to remove damage from credit report even if you were not at fault. Sorry about your loss. I did a chapter 13 until my employer removed salary freeze. I have a couple of years left – will get certificate saying mortgage is current.

  3. Lisa says:

    How do you get that removed?? We’re in a similar situation. “sorry can’t help you, FORECLOSURE shows up on your credit report. EVEN THO our score is pretty decent.

  4. Nina says:

    Has anyone in New Jersey with Chase as their lender received a check yet??????Calling these RUST IDIOTS has been a waste of time!!

  5. Jennifer says:

    Oh I would really just like to have it removed from our credit instead of receiving a 600 check!!!

  6. Jennifer says:

    My house burned to the ground on Dec. 21,2008. Shortly after it burned we started getting foreclosure paperwork in the mail. I called Chase 1,000 times and told them the house had burned and there was nothing to foreclose on and if they would just wait our insurance was paying the house off in full. Long story short. Chase lost our payoff check it set on someones desk for 6 months!! All this time we are getting paper work in the mail saying our house is in foreclosure. Anyway Chase all of a sudden found the money and applied it to our account. Well now it look like our house was foreclosed on but the loan was paid in full. Anytime our credit it run they say oh i see you have a foreclosure we cant help you. Then we have to say well no actually this is what happened…It’s been a pain in our butt since it happened!!!!!

  7. D Truth says:

    I haven’t received a check yet. I am one of the 53 foreclosed on who was not in default and one of the 2800 original cases reviewed by the OCC in 2010. I am also one of 250 borrowers complaints reviewed by 39 state attorney generals in 2009 posted on the internet April 29,2009 under (AG’s Take Action on CWN Reports of Foreclosure Abuse). Nothing was done to stop what happened to us by any of them. Our home was sold October 5,2011 to my home church who tore it down to build a life center. We had one of the first internet post August 15, 2008 concerning servicers under (Countrywide Cashing in on Surprising Group of Homeowners | The Consumer Warning Network). The OCC, Louisiana Attorney General and Louisiana Office of Financial Institutions all had these internet post and over 50 pages of evidence concerning our complaints and did nothing. I filed a complaint directly to the OCC 11-28-2011 and was given Case #01887017. I also filed for review of my foreclosure in the Independant Foreclosure Review 12-28-2011 and was given Ref.# 1811662791. The case filed with the OCC should have concluded in about 90 days.The OCC deliberately held up giving me a decision for over a year and two months pretending to need information from BoA they already had. Finally on January 30, 2013 I recieved a letter from the OCC stating that my case with the OCC was being dismissed because it was in the scope of the IFR. I filed an appeal. Prior to the dismissal I had been told by the OCC Houston Office Manager Ms. Melinda Goodnight that Mr. Larry Hattix had instructed them not to review my case and to dismiss my case and all cases like mine were to be handled that way. The OCC has thousands of claims filed directly to them like mine they refused to review and dismissed to keep the harm servicers did to us hidden.

    • israel144 says:

      I got a check on the 15th. i haven’t cashed it yet. I got a question/ What does it say on your credit report/ does it say you owe the money? does it say foreclosure?

  8. charley rice says:

    You can’t steal a home and not give back the full value of the promissory note to the people. The people had a cancelled contract from their lenders and those lenders terminated those contracts when they ALL WENT OUT OF BUSINESS.

    This mean that the 3rd party banks had NO STANDING along with the Courts that had NO JURISDICTION to Enforce an INVALID Deed of Trust Contract.

    UCC law is ALL ABOUT Contracts.

    BTW where’s is the bank CEO signature on your Deed of Trust?

    It’s NOT a Valid Contract then it’s a Mistake of Fact and a Mistake of Law 1688-1689

    WHO are they trying to CON with this deception.

    THOSE 3rd party banks didn’t lean NO MONEY and they can’t act as a lender they are SUPPOSED to Be ALREADY Sanctioned by violating the JUNE 15, 2010 FTC v COUNTRYWIDE HOME LOAN Consent Judgment.

    Which stated ALL the parties BOA, BAC, RECONTRUST COMPANY, LANDSAFE DEFAULT, and others were prohibited for 8 years from doing a FORECLOSE on June 15, 2010

    Eight years HAD NOT passed and LOOK they’re VIOLATING that COURT ORDER!

  9. tina says:

    Instead of a $300 check, I would rather have this removed from my credit report. I mean , didn’t the banks admit we should not gave been for closed on?

  10. Amada L EscandonORourke •

    We have been asking for the last 28 months, WF NA San Fco. CA Branch
    debt collector for a loan mod or short sale,
    they say that OLS
    bought our loan in the securitization of 2004,
    Wells Fargo BAnk, NA Trustee for POOLING and SERVICING Agreement DATED as of NOVEMBER 1, 2004
    ***********Park Place Securities, INC***********
    asset-Backed Pass-THROUGH CERTIFICATES SERIES 2004-WHQ2 who’s address is 1661 Worthington RD Suite#100, West Palm Beach, Fl 22409

    but ocwen loan servicer LLC
    being a debt collector also does not care for short sale or loan mod…and they are not the originator of my of my note.
    Ocwen loan servicer placed a forced home insurance for more than $2500.00
    DEFENSIVE litigation FEE for $4,444.00 a month for the last 24 months +
    Title serch $729.80 +Inspection fee $436.00 +valuation fee $52.50 plus
    the late charge of $146.367 in my home loan statement,
    now with a balance of more than $80K plus price of property TS for$400K
    price given to my property by BPO from Oceanside CA a two hour drive from where I live! OLS/WF have denied our loan mod and short sale for no reason but greed!

    WF/OLS waits for two or three years before Western Progressive-LLC-robo signer Porsche Smiley /OLS file the the NOD…mean time OLS charge LITIGATION FEES under attorney in fact Western Progressive, LLC -Mr. Madan Kumar that also works(dual agency)for ALTISOURCE TM but since he is not the lawyer
    he told me that he can disguise these charges this way they don’t pay any property transfer TAX…
    and the lawyer helping in this fraud is Mr. Manford Benjamin Susman from Houser &Allison APC in CA and NY..HE CALL ME TO TELL US THAT HE WILL EVICT US WITHOUT ANY OPPORTUNITY OF A LOSN MOD OR SHORT SALE..only foreclosure!
    when I told him that it was illegal to charge defensive litigation fees without DISCLOSING his identity is illegal ,identity theft is a CRIME. I have reporting hime already to the CA BAR OF LAWYERS.
    I told him to read the homeowners Bill of Rights! he got very angry and now he sold my home last 1-28-13 to TOWN and Country Title serv Inc.(LPS) Ocwen Federal Bank FBS…the lawyers from Quadra have sued WF before…so most likely they will handle this mortgage fraud with robo signer and altered deeds of trust and ghost assignment that lead to eviction of the homeowner.

    1-28-2013-Assignment of Deed Of Trst California–3013-0056477
    LPS Robo signer Joe Simmons
    when RECORDER Mail Ocwen Loan Ser LLC
    1661 Washington Rd Suite 100
    West Palm Beach, Florida, 33409
    phone # 561 682 8835
    my loan number is altered *64888888888*82
    CA-Attorney Code 24110 IS INACTIVE-POA April 05,2001-Doc# 2001 -0206510
    NOD 12-07-2012 0391952 TS# 2011-10981
    who is the ASSIGNEE?…

    TRUSTOR: O’Rourke G. M. O and O’Rourke A. L


    ***this lawyer copy and paste instrument Deed of Trust 2004-0973029
    DOC DATE-October-13, 2004.0973029
    This Assignment is made without recourse, representation or warranty
    BY (robo signer) LETICIA N ARIAS Contract Manager
    leticia n arias
    EXP: NOV 29 2011-NOTARY STATE OF FLORIDA mers 888 679 6377

    in order to recod this intrument they used robo siger prsche Smiley form LPS and Western Progressive LL Madan Kumar attorney in fact dba Houser and Allison-dba Ocwen dba Wells Fargo lawyer Manford Benjamin Susman. Doc No: 2012-0771596 Record Date: 12/7/2012 Reel: 0 Image: 0 Pages: 3 Document Type: Grantor(s:( WESTERN PROGRESSIVE LLC -2002 summit road 600 Atlanta,Ga DEFAULT originator O ROURKE GEORGE M O ROURKE AMADA L Descriptors(s:( DOC 973029 2004 this instruments now read like this: Trustor Homeowners George and Amada O’Rourke trustee: TOWN AND COUNTRY TITLE SERVICES,INC Beneficiary: ARGENT MTG CO LLC enter September 30, 2004 2013-0056477 ASGT TRUST DEED O ROURKE AMADA L WHO IS trustee: TOWN AND COUNTRY TITLE SERVICES,INC?

    What sets Nationstar Mortgage (NSM) apart from competitors like Ocwen (OCN) is its origination..

  11. Abundance says:

    post foreclosure- My husband is retired US navy, according to Independent Foreclosure Review if the foreclosure took place withing 9.5 months after you retired from Military, you are entitle to receive additional payment.

    I am DEVASTATED receive check for $600 dollars. Wow, thanks OCC

    • so sorry ti hear your circumstances. we are also fighting ocwen loan servicer and wells fargo NA in san francisco ca. Ocwen wanted us to pay half of our mortgage but in cash and had to be sent to INDIA via western union to MARCUS MOMIN from Ocwen Loan Serv and Ocwen Financial Corp, since we did not accept this “express loan modification” over the phone in Dec 2010-and on Jan 2011 they DID NOT ACCEPTED my full payment and by JANUARY 15 2011 We received the NOTICE OF DEFAULT and all of 2011-2012-2013 we have been trying to have a loan modification but now since Ocwen Loan Serv used our identities to stealin 2004 more than 2 million dollar worth of ghost loans that they took using WELLS FARGO-CHASE-ARGENT Mortg servicer (OCWEN), but now these loans appeared in my credit report.and our home value is 265K.
      it’s a total nightmare! let’s keep praying.
      God bless you.

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