Home > Uncategorized > Independent Foreclosure Review – Ends December 31, 2012

Independent Foreclosure Review – Ends December 31, 2012

Just as a follow up to an earlier post about the Independent Foreclosure Review through the Office of Comptroller on Currency, homeowners with qualifying mortgage loans have until December 31st to request an independent foreclosure review.

On the OCC’s website it provides some background into this program: “On April 13, 2011, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Office of Thrift Supervision announced enforcement actions against 14 large residential mortgage servicers and two third-party vendors for unsafe and unsound practices related to residential mortgage servicing and foreclosure processing.”

“As part of those consent orders, federal regulators required servicers to engage independent firms to conduct a multi-faceted review of foreclosure actions in process in 2009 and 2010. Under the orders, independent consultants are charged with evaluating whether borrowers suffered financial injury through errors, misrepresentations, or other deficiencies in foreclosure practices and determining appropriate remediation for those customers. Where a borrower suffered financial injury as a result of such practices, the agencies’ orders require financial remediation to be provided”

for more information, please check out the website at: http://www.occ.treas.gov/topics/consumer-protection/foreclosure-prevention/correcting-foreclosure-practices.html


Categories: Uncategorized
  1. December 20, 2012 at 2:21 am

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