In foreclosure 2009 or 2010? FREE Independent Foreclosure Review, even if you retained your home.

Sonoma County, California–In the Mail–LOOK FOR–FREE, legitmate  “Independent Foreclosure Review”,…Don’t throw this one away. You could be eligible for up to $125,000 in compensation!  The information below from The Office of the Comptroller of the Currency will explain the process. This is a FREE review. DO NOT pay someone to review your loan, or foreclosure.

Correcting Foreclosure Practices

Updated November 2, 2012

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.

Independent Foreclosure Review–Apply by Dec 31, 2012 a MUST!

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.

As part of that program, the 14 mortgage servicers covered by the enforcement actions will begin mailings November 1, 2011 that will continue through the end of the year. The mailings are intended to provide information to potentially eligible borrowers on how to request a review of their case if they believe they suffered financial injury as a result of errors, misrepresentations, or other deficiencies in foreclosure proceedings related to their primary residence between January 1, 2009 and December 31, 2010. The mailings will include a request for review form.

Borrowers may also visit for more information about the review and claim process. Assistance with the form and answers to questions about the process are available at 1-888-952-9105, Monday through Friday from 8 a.m. to 10 p.m. (ET) and Saturday from 8 a.m. to 5 p.m. (ET).

Requests for review must be postmarked or submitted online by December 31, 2012.

Helpful Links about the Independent Foreclosure Review

 Official Site (Independent Foreclosure Review Site)
Frequently Asked Questions
Request Form Help Sheet
Tips to Complete the Form
Remediation Framework
Frequently Asked Questions about the Remediation
Guide to Remediation Framework
Video Guide
Community Group Tool Kit

The third-party consultant will assess whether any errors, misrepresentations, or other deficiencies resulted in financial injury to borrowers. Where a borrower suffered financial injury as a result of such practices, the consent orders require remediation to be provided. During the review, customers may be contacted by mortgage servicers for additional information at the direction of the independent consultant.

Agencies Publish Financial Remediation Framework

On June 21, 2012, the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System released a financial remediation framework that provides examples of errors in foreclosures covered by the regulators’ consent orders that require compensation or other remediation as directed in the regulators’ April 2011 orders.  The consultants will use the framework to recommend remediation for financial injury identified during the Independent Foreclosure Review.  The servicers will prepare remediation plans based on the consultants’ recommendations.  The federal banking regulators must approve each servicer’s remediation plan.  The framework helps ensure that similarly situated borrowers receive similar treatment.

Eligibility for Review

To be eligible, the mortgage must have been active in the foreclosure process between January 1, 2009, and December 31, 2010, the property securing the loan must have been the primary residence, and the mortgage must have been serviced by one of the following mortgage servicers:

  • America’s Servicing Co.
  • Aurora Loan Services
  • BAC Home Loans Servicing
  • Bank of America
  • Beneficial
  • Chase
  • Citibank
  • CitiFinancial
  • CitiMortgage
  • Countrywide
  • EMC
  • EverBank/EverHome Mortgage Company
  • Financial Freedom
  • GMAC Mortgage
  • HFC
  • HSBC
  • IndyMac Mortgage Services
  • MetLife Bank
  • National City Mortgage
  • PNC Mortgage
  • Sovereign Bank
  • SunTrust Mortgage
  • U.S. Bank
  • Wachovia Mortgage
  • Washington Mutual (WaMu)
  • Wells Fargo Bank, N.A.
  • Wilshire Credit Corporation

Request for Review Reponse Data

The OCC and Federal Reserve have released data on the number of eligible borrowers who have requested a review by state and county. Click to view that data.

Engagement Letters

The OCC also released engagement letters that describe how the independent consultants, retained by the servicers, will conduct their file reviews and claims processes to identify borrowers who suffered financial injury as a result of deficiencies identified in the OCC’s consent orders. See the engagement letters.

Interim Report

On June 21, 2012, the OCC released its second interim report on the status of the Independent Foreclosure Review and actions required by consent orders issued in April 2011 to correct deficient mortgage servicing and foreclosure processes. Read the report.

Frequently Asked Questions

Consumers may have a number of questions regarding how these enforcement actions may affect them. The OCC has provided answers to some of the most anticipated questions in these frequently asked questions.

Resources for Housing Counselors

The OCC with the the Board of Governors of the Federal Reserve System, recently held a training webinar to provide information to housing counselors, legal aid attorneys, and other advisors assisting borrowers with completing the Request for Review form for the Independent Foreclosure Review process. The archive of the closed-captioned webinar is now available for download on the Federal Reserve Web site. The accompanying presentation slides and event transcript are posted in English and Spanish. The webinar materials highlight key information for borrowers to complete the request for review form, including the importance of returning the form signed, a critical step for requesting a review.


To promote awareness of the Independent Foreclosure Review and in addition to direct mail, regulators required servicers to conduct advertising that included national publications as well as publications that serve minority and Spanish speaking audiences. Supplementing this effort, the OCC sponsored two rounds of public service advertising distributed to 10,000 small publications and 6,500 small radio stations throughout the country. View PSA material from the OCC. In addition, the Federal Reserve released a public service video explaining how to apply for a review.

About the Enforcement Actions

The enforcement actions were based on interagency examinations conducted in the fourth quarter of 2010. A summary of the findings of the interagency reviews is available in the Interagency Review of Foreclosure Policies and Practices, which was produced by the OCC, the Board of Governors of the Federal Reserve System, and the OTS.

Links to the OCC and former OTS Enforcement Actions:

Related Links

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