You may have clients who qualify to have their foreclosure case checked by a third party as part of the federal regulators’ independent foreclosure review directive now have until July 31, 2012 to submit their requests. How about notifying your database? This is great info for them either way. The Federal Reserve and the Office of the Comptroller of the Currency (OCC) announced this past Wednesday the 15th the postponing of the deadline to give consumers more time if they believe they suffered financial injury as a result of foreclosures actions from 2009 or 2010.
The independent foreclosure reviews only apply to the following servicers and their subsidiaries:
America’s Servicing Company GMAC Mortgage
Aurora Loan Services HFC
BAC Home Loans Servicing HSBC
Bank of America IndyMac Mortgage Services
Beneficial MetLife Bank
Chase National City Mortgage
Citibank PNC Mortgage
CitiFinancial Sovereign Bank
CitiMortgage U.S. Bank
Countrywide Wachovia Mortgage
EMC Washington Mutual
Everbank/Everhome Mortgage Company Wells Fargo
Financial Freedom Wilshire Credit Corporation
Borrowers are eligible for a free independent foreclosure review if their mortgage loan was
subject to foreclosure between January 1, 2009 and December 31, 2010 and the property
securing the mortgage was the borrower’s primary residence. Independent third parties
evaluations began in November 2011; eligible borrowers should have received a letter by the end
of 2011 detailing the whole process.
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