From 5d41cacb31c0256d1938fb75fee6dcf5d82b3c73 Mon Sep 17 00:00:00 2001 From: Selina Duesbury Date: Tue, 17 Jun 2025 18:46:48 +0800 Subject: [PATCH] Add 'Correcting Foreclosure Practices' --- Correcting-Foreclosure-Practices.md | 53 +++++++++++++++++++++++++++++ 1 file changed, 53 insertions(+) create mode 100644 Correcting-Foreclosure-Practices.md diff --git a/Correcting-Foreclosure-Practices.md b/Correcting-Foreclosure-Practices.md new file mode 100644 index 0000000..f1819be --- /dev/null +++ b/Correcting-Foreclosure-Practices.md @@ -0,0 +1,53 @@ +
Under the Independent Foreclosure Review (IFR) [Payment](https://fashionweekvenues.com) Agreement, more than $3.2 billion was dispersed to more than 3.6 million qualified debtors, representing more than 90 percent of the total amount offered for distribution.
[trulia.com](https://www.trulia.com/for_rent/Los_Angeles,CA/TOWNHOUSE_type/) +
Checks connected to OCC-regulated banks [covered](https://www.morrobaydreamcottage.com) by the IFR Payment Agreement ended December 31, 2016. No extra checks will be released.
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In June 2016, the Office of the Comptroller of the Currency (OCC) escheated approximately $270 million to state authorities, in connection with the [agency-supervised payments](https://jassbrar.ca) under the Independent Foreclosure Review (IFR) Payment Agreement. The OCC expects to escheat an additional $4 million to state authorities by February 2017 to complete the IFR Payment Agreement program. Eligible borrowers and their beneficiaries may [claim unclaimed](https://leaphighproperties.com) [funds obliged](https://www.qbrpropertylimited.com) to them through their states' escheatment processes. Each state has various timelines, however it might be six months or more after the funds are escheated to the states before the particular state has the ability to provide payments under their unclaimed residential or commercial property procedures. There is no time limitation within which qualified people need to ask for funds under the states' unclaimed funds procedures.
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Foreclosure Prevention Assistance
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Regulators encourage borrowers requiring foreclosure prevention assistance to work straight with their servicer or call the Homeowner's HOPE Hotline at 888-995-HOPE (4673) (or at Making Home Affordable) to be put in touch with a U.S. Department of Housing and authorized not-for-profit organization that can offer free assistance.
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In This Section
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OCC Terminates Foreclosure-Related Consent Orders +Federal Bank Regulators Fine [Document](https://www.aber.ae) Processor $65 Million +EverBank Payment Agreement +Related Reports +Other Related [Documents](https://scoutmoney.co) +En Español
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OCC Terminates Foreclosure-Related Consent Orders
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Following the confirmation of corrective actions, the OCC has terminated foreclosure-related authorization orders against the following banks.
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Termination Order for Bank of America, N.A. (PDF) (June 17, 2015). +Termination Order for Citibank, N.A. (PDF) (June 17, 2015). +Termination Order for PNC Bank, N.A. (PDF) (June 17, 2015). +Termination for EverBank (PDF) (January 5, 2016). +Termination for JPMorgan Chase Bank, N.A. (PDF) (January 5, 2016). +Termination for OneWest (PDF) (July 21, 2015). +Termination for Santander Bank, N.A. (PDF) (February 9, 2016). +Termination for U.S. Bank National Association (PDF) (February 9, 2016). +Termination for Wells Fargo Bank, N.A. (PDF) (May 24, 2016). +Termination for HSBC Bank USA, N.A. (PDF) (January 9, 2017)
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Foreclosure-related permission orders versus Aurora Bank, FSB, and MetLife Bank, N.A., were ended formerly by [operation](https://theeasternacres.com) of law after these institutions ceased to operate as managed, guaranteed depository institutions.
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Federal Bank Regulators Fine Document Processor $65 Million
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The federal banking agencies fined ServiceLink Holdings, LLC (ServiceLink Holdings), $65 million for improper actions by its predecessor business, Lender Processing Services, Inc. (LPS), which led to substantial shortages in the foreclosure-related services that LPS offered to mortgage servicers.
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Civil Money Penalty Order (PDF) (January 24, 2017)
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IFR Payment Agreement
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Agencies Announce Reissuance of Checks Related to the Independent Foreclosure Review. +Foreclosure-Related Consent Orders Status Report April 2014. +Report on Independent Foreclosure Review Payment Data. +Minimum Standards for Prioritization and Handling Borrower Files with Imminent Foreclosure Sale. +Payments begin April 12. +IFR Payment Agreement Details. +Amendments to April 2011 Enforcement Actions. +Comptroller Speech. +Payment Agreement Announcement. +Original Enforcement Actions
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EverBank Payment Agreement
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EverBank Amended Order. +[EverBank](https://whitestarre.com) Agrees to Pay $37 Million. +EverBank FAQs
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Related Reports
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Foreclosure-Related Consent Orders Status Report: Observations, Payments, and Foreclosure Prevention Assistance (April 2014) - On April 30, 2014, the OCC released a report on IFR Payment Agreements that provides data on the status of payments and foreclosure avoidance assistance along with a discussion of observations from the reviews. +Report on Independent Foreclosure Review Payment Data (May 2013) - This report supplies information on IFR payments by state as of May 31, 2013. +Interim Status Report: Foreclosure-Related [Consent](https://barupert.com) Orders (June 21, 2012) - The OCC launched its second interim report on the status of the IFR and actions required by consent orders released in April 2011 to fix lacking mortgage maintenance and foreclosure procedures. +Interagency Review of Foreclosure Policies and Practices (April 2011) - The OCC, the Board of Governors of the Federal Reserve System, and the OTS conducted interagency evaluations in the fourth quarter of 2010 and released a summary of findings in April 2011.
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Other Related Documents
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- Expand All. +- Collapse All
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Enforcement Acton Amendments Implementing Business Restrictions Against Certain Banks (Issued June 2015) Show
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On June 17, 2015, the OCC announced specific service constraints associated with mortgage maintenance activities of EverBank \ No newline at end of file