Remainder of Mortgage Servicing Settlement Checks to be Issued This Summer – NMP Skip to main content

Remainder of Mortgage Servicing Settlement Checks to be Issued This Summer

NationalMortgageProfessional.com
Jul 15, 2013

Nearly 2.9 million checks, totaling more than $2.5 billion, related to the Independent Foreclosure Review (IFR) Payment Agreement have been cashed or deposited through July 11, 2013. More than 3.9 million checks, worth more than $3.4 billion, have been sent to eligible borrowers, since payments began on April 12. The remaining checks will be issued this summer.  The payments result from agreements between the Office of the Comptroller of the Currency (OCC), the Federal Reserve Board related to the Nationwide Mortgage Servicing Settlement, and 13 servicers to provide $3.6 billion in 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. Federal regulators also released a report today showing the volume and value of checks issued and paid (cashed or deposited) by state as of May 31, 2013. The data represent the mailing addresses of the recipient and not necessarily the addresses of the eligible property.
Published
Jul 15, 2013
Fed Expects To Continue Rate Hikes, But Worries It Could Go Too Far

July meeting minutes show another 50-basis-point rate hike is expected in September.

Regulation and Compliance
Aug 18, 2022
SEC: Angel Oak Capital Advisors Misled Investors

Company, portfolio manager agree to pay $1.825M combined in civil penalties.

Regulation and Compliance
Aug 10, 2022
MISMO Seeks Public Comment On 3 eMortgage Resources

Updates proposed to MISMO Business Glossary, eMortgage Glossary, and eModification Reference Flyer.

Regulation and Compliance
Aug 05, 2022
As Expected, The Fed Raises Rate By Another 0.75%

Experts say housing industry will shrug off the latest increase.

Regulation and Compliance
Jul 27, 2022
AmTrust Ends 'No-Poach' Agreement, Pays $1.25M Fine In Deal With N.Y. AG

Company also agrees to cooperate with ongoing investigations of the title insurance industry.

Regulation and Compliance
Jul 25, 2022
NAR Chief Economist: Nationwide Home Price Decline Won't Happen Soon

Lack of inventory continues to support growth in prices, which have increased year over year for 124 straight months.

Regulation and Compliance
Jul 22, 2022