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Independent Foreclosure Review Payments Near $1.7 Billion
WASHINGTON, D.C. - May 7, 2013 - (RealEstateRama) -- More than 1.8 million people have cashed or deposited nearly $1.7 billion in checks related to the Independent Foreclosure Review Payment Agreement through May 2, 2013.
Status of Independent Foreclosure Review Payments
WASHINGTON, DC - April 19, 2013 - (RealEstateRama) -- The second wave of 1.4 million checks totaling $1.2 billion was sent today to borrowers eligible for payments under the Independent Foreclosure Review Payment Agreement, bringing the total number of checks sent to date to 2.8 million worth $2.4 billion. Independent Foreclosure Review.
Federal Reserve provides information on checks sent under Independent Foreclosure Review Payment Agreement
WASHINGTON, D.C. - April 17, 2013 - (RealEstateRama) -- The paying agent for checks being sent to borrowers under the Independent Foreclosure Review has assured the Federal Reserve Board that early problems with some checks have been corrected and that funds are available to cash all checks. Independent Foreclosure Review Agreement Payments
Independent Foreclosure Review Agreement Payments Underway
WASHINGTON, DC - April 17, 2013 - (RealEstateRama) -- 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. Independent Foreclosure Review Agreement Payments
Payments to 4.2 Million Borrowers Covered by Foreclosure Agreement to Begin April 12
WASHINGTON, DC - April 9, 2013 - (RealEstateRama) -- Payments to 4.2 million borrowers are scheduled to begin on April 12 following an agreement reached by the Office of the Comptroller of the Currency and the Federal Reserve Board with 13 mortgage servicers.
Cummings Responds to GAO Report on Foreclosure Reviews
Washington, DC - April 4, 2013 - (RealEstateRama) -- Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, released the following statement in response to a Government Accountability Office (GAO) report on banking regulators’ review of foreclosure abuses:
Amendments to Consent Orders Memorialize $9.3 Billion Foreclosure Agreement
WASHINGTON, DC - February 28, 2013 - (RealEstateRama) -- The Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board today released amendments to their enforcement actions against 13 mortgage servicers for deficient practices in mortgage loan servicing and foreclosure processing. The amendments require the servicers to provide $9.3 billion in payments and other assistance to borrowers.
