Independent Foreclosure Review: Borrower Outreach Mailing and Response Data
Overview
The Independent Foreclosure Review (IFR) is required by the enforcement actions issued by federal banking regulators in April 2011. These actions were issued against 14 banking organizations for deficient practices in residential mortgage loan servicing and foreclosure processing. Under these actions, servicers were required to retain independent consultants to conduct a comprehensive review of foreclosure activity to identify whether borrowers who were in the foreclosure process during 2009 and 2010 suffered financial injury due to errors, misrepresentations, or other deficiencies. If the review finds that financial injury occurred, the borrower may receive compensation or other remedy. Borrowers who believe they were financially harmed during the mortgage foreclosure process by the errors of one of these mortgage servicers can request an independent review if a foreclosure action was initiated, pending, or completed during 2009 or 2010 on a mortgage loan on their primary residence.1 To request a review, potentially eligible borrowers must submit a Request for Review Form by postal mail or online at www.IndependentForeclosureReview.com 
. Borrowers have until December 31, 2012 to submit a form requesting an independent review.
Broad outreach by mail and mass media has been used to raise awareness of the IFR. Outreach efforts were launched on November 1, 2011, when the servicers mailed letters about the IFR to over 4 million borrowers who were identified as potentially eligible for an independent review. Since that time, the regulators have required the servicers to execute enhanced outreach plans that include a more targeted approach to reaching borrowers. The Federal Reserve and the Office of the Comptroller of the Currency are making public the IFR mailing and response data by geographic location to assist with targeted outreach to potentially eligible borrowers. A downloadable file containing each state’s count totals can be searched by county, parish, or independent city, along with the uniquely identifying Federal Information Processing Standard (FIPS) code.2 Additionally, mailings and responses are searchable by county, parish, or independent city within a state, using the accompanying search function.
Borrower Participation
The data released reflect the numbers of borrowers meeting the initial eligibility criteria (mailings) and submitting Request for Review forms (responses) by geographic location. The figures for mailings and responses do not represent the total number of financially harmed or remediated borrowers; rather, they offer a local snapshot of borrower outreach and responses. The data are collected regularly by the IFR’s third party central intake administrator, and are current as of September 27, 2012.
Request for Review Form mailings were concentrated in areas that were hardest hit by the housing crisis.3 These areas were identified by the U.S. Department of the Treasury, beginning in February 2010, either because their unemployment rates were at or above the national average or house prices had fallen more than 20 percent since the housing market downturn. For example, counties in California, Arizona, Nevada, and Florida received a sizeable share of the mailings. The data are collected regularly by the IFR’s third party central intake administrator, and the data files below are current as of September 27, 2012, when 234,323 borrowers had requested an independent review. As of December 6, 2012, 322,771 borrowers had requested an independent review, which represent an increase of nearly 38 percent since September 27, 2012.
Borrower Outreach Mailing and Response Data: Search by County (Excel)
Borrower Outreach Mailings and Responses: All Data (Excel)
1. More information about the enforcement actions, including guidance that will be used in determining the compensation or other remedy that harmed borrowers will receive, and resources for borrowers and housing counselors is available at http://www.federalreserve.gov/consumerinfo/independent-foreclosure-review.htm. Return to text
2. A FIPS code is a five-digit number assigned to a place for information processing. The code begins with a two-digit state number, followed by a unique three-digit place code. For example, California’s state code is 06, and the county code for Los Angeles is 037. Therefore, the FIPS code for the county of Los Angeles is 06037. Return to text
3. For the list of Hardest Hit Fund states, see the U.S. Department of the Treasury’s website at http://www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/hhf/Pages/default.aspx Return to text
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Fifth Third Bank, committed FRAUD on me many times, Force placed Insurance and cover-up by the Office of the President, credit report, appraiseals, etc.
Fifth Third Bank
Kevin T. Kabat, President & CEO Fax 513-358-3493 Madisonville Operations Center
MD1MOC2N
Cincinnati, OH. 45263
Dear President Mr. Kabat:
RE: Mortgage Loan: 404876203 Three situations occurred during the Foreclosure process that I believe were important, illegal and unfairly place on me, therefore to consider this Foreclosure invalid.
* Forced Placed Hazard Insurances, $500.00 per month.
* Mortgage Broker manipulation of appraisal, loan application, and my credit. * Conflicting and imbeciles’ amount stated on the Foreclosure Notices.
Gentlemen, I’m writing this letter to explain to you some of the discrepancy during the Foreclosure process that I had to go through. There are three that really brought the Foreclosure to a head. The one that actually broke my back was the Forced Placed Hazard Insurances, $500.00 more a month when I was living on pay-check to pay-check. The additional charge forced me to cash in stock and part of my 401K retirement plan, paying the extra taxes that went along with the process. After paying many months with the addition charges, I started to lose ground. Until recently I knew, I had insurance since the original mortgage with Country-wide Home Loans, and it was required for the loan with Fifth Third Bank. Just lately, I was with my Lawyer, we called, Pioneer Heritage Insurance, PO Box 716, Spicer, MN. 56288, phone# (320) 796-2169. Gentlemen, they stated I had continued and uninterrupted insurance on the property and they fax over the proof: Exhibit” A”. The reason this was wrong, was that I had insurance and Fifth Third Bank paid for it out of my Escrow every year since origination of the Home Loan Mortgage, Fifth Third Bank approved for me.
My original home mortgage loan made by FIFTH THIRD BANK was signed by me, Robert L. Tatge (a single person) on January 4, 2008 for $310,000.00 @ 6.375% for 30years on a refinanced loan made prior with COUNTRY-WIDE HOME LOANS back on JUNE 12, 2002, for $178,817.91 @ 7% for 30 years.
The second problem that throws up a red flag is the mortgage broker that put the loan application together for our approvals. I’m not sure of his name, and you probably could help me out with that. He said, He could improve my credit, and I could take cash out, that was very cheap money, because of the high equity I had in my home. This was highly suspicious, not taking into consideration my age or ability to pay the extra money back. Now that I look back, he found and new ways to derive benefit by manipulation. My home was built year 1975: (The TRUTH 1900). Appraisal manipulation, to my understanding this broker wasn’t satisfied with the first appraisal from: Forsythe Appraisals, LLC, 54 28th avenue North, St. Cloud, MN. 56303 Phone 320-259-8958 He asked the appraiser to treat the property like it was on Lake Minnetonka, so the second time it came in at $420,000. It satisfied the loan guidelines. Then he sent me two checks, one he asked if I would destroy, I did, the other I cashed:
Exhibit “B,” (He said, he had other companies,) that’s why the check was drawn on: MJC ENTERPRISES LLC, 5115 EXCELSIOR BLVD., SUITE 422, SAINT LOUIS PARK, MN 55416
This was unfair because my property tax statements for years 2007 through 2009 stated: MARKET VALUE ESTIMATED $324,700 IN 2007/2008 which is $95,300 less than appraisal. The second property tax statement for years 2008/2009 which is $92,000 less than appraisal.
I ask for a modification JUNE, 2009 and was denied because of insufficient income; I keep up my requests and hired a lawyer, Avi Liss, Liss Law, LLC., Hereford Street, Boston, MA, 02115 (W) phone 617-778-0363 Finely brought me a modification on August 1, 2009 (lawyer said it was the Best he could do!) Loan Amount $327,410.93 @ 5.375% for 40 years, graduated principal by $17,410, lowered interest by 1%, making the pay off difference before the modification the principal was $310,000,00 interest $386,238.81 = $696,238.81… New Modified Mortgage 40 years, principal $327,410.93, interest $489,836.12 = $817,247,247.05… The difference of $121,008.24 it was Unaffordable, I signed it at the Lawyers suggestion. Beginning with the payment due 08/01/2009 monthly Including escrow were $2,135.51 Knowing this modification wasn’t something I could afford , I asked for HELP, A FORBEARENCE PLAN was offered: Exhibit “C,”: The “Forbearance Plan” offered: The due dates were set-up all wrong.
The third misrepresentation and final stress, on all FORECLOSURE NOTICE’S sent out by the Lawyers representing Fifth third BANK: Usset, Weingarden & Liebo, PLLP, 4500 PARK GLEN RD, #300, MINNEAPOLIS, MN 55416, PHONE 952-925-6888, Knowingly this is information sent to the lawyers from Fifth Third Bank, mislead the mortgagee.
Exhibit “D,” Multiple & Conflicting Dollars amounts in Default on “Foreclosure notice” making it impossible for Mortgagee to understand what they meant and get help if needed.
#1: March 9, 2009 $12,880.19
#2: March 9, 2009 $15,276.19
Exhibit “E:” Multiple & Conflicting Dollars amounts in Default on “Foreclosure notice” making it impossible for Mortgagee to understand what they meant and get help if needed.
#1: March 22, 2011 Fifth Third Bank said I owed $2,365.80 to reinstate mortgage.
#2: March 22, 2011 Fifth Third Bank said I owed $3,874.40 to reinstate mortgage.
#3: March 22, 2011 Fifth Third Bank said I owed $35,100.90 to reinstate mortgage.
.
I had a 3 Hernia Operation on August 5, 2011 @ the VA Hospital in Minneapolis, MN.
I had to stay in the hospital because I was on a Vac healing machine that restricted my staying in the hospital and their rules. Outside contact was difficult. I still have a home health nurse that comes to my home every Wednesday until Mid-April. Fifth Third Bank knew of my operation and still proceeded with the foreclosure by having the sheriff’s Sale on Nov 16, 2011.
The information the broker collected was suspicious, wrong, and different, I realize now. Forced Hazard Insurance should been follow-up at enforcement. And I just do not understand the lesser amounts to reinstate the mortgage, it was confusing on the Foreclosure Notices and made it impossible to redeem, also difficult to sell.
Discussion: When my dream home was foreclosed on, my heart was broken. I try my best with circumstances beyond my control. I hope you would look into this matter. I still care for this home. I’m writing because the Office of the Comptroller of the Currency (OCC) recommends that I should attempt to resolve my complaint with FIFTH THIRD BANK first.
Without prejudice
Mr. Robert L. Tatge March 27, 2012
E-MAIL: robtat@peoplepc.com
Cc: Usset, Weingarden &Liebo, PLLP, Attn; Amy Van Zummeren @ FAX: 952-925-5879
Cc: Independent Foreclosure Review (occ), (Letter) PO BOX 2587, Fairbault, MN 55021-9981
Attn: Paul-Allen Bixler, Regulatory Support Specialist Office of the President: Fax 513-358-3493
Cc: Office of Minnesota Attorney General, Lori Swanson, Honorable: Bill Gosiger, File: 439011, FAX 651.282.2155
As long as you put in a change of address with the post office your mail should follow you.Mine did I just opted not to take part as I realized it was just another scam.
So, almost 40 % of the public responded, during the last 9 weeks, of a third extension? Really? No really?
I look at my county and then I realize, dang good chance most of the people do not live at the address, most were probably sent to the homes foreclosed on….this is a very profound question here!! I would like to see what the address on these so called notice were sent to. I can not believe my county only got 1,380 when 23,704 were mailed. hummmm Kinda thinking most of the address will be foreclosed home soooo…well that would be quite a neat trick that the banks and gov pulled …. if so. I do not doubt this could be true to some degree. Anyone got info on this maybe? Now I do know of one person from CA that got theirs and they now live on the east cost and this is where they received it, hopefully most got notified but this question begs to be answered, just a feeling here. The trust is totally gone for most so again…not sure here. No main stream big banks for me, wiggling my out of them one by one, the mtg bank is the LAST one to conquer. Good luck all and do not expect any monies and if so it will be very very little, except for CA and they are pretty well taking care of the crap from what I have been told and read..