Special offer

New Independent Foreclosure Review Process Available for Struggling Homeowners!!!

By
Real Estate Broker/Owner with Action Investments and Hawaii Pacific Realty BRE Lic# 01481898

Independent Foreclosure Review Process Available for Struggling Homeowners

Great news for homeowners to have had foreclosures filed between Jan 1, 2009 and December 31, 2010 is that on [November 1, 2011 from the Office of the Comptroller of the Currency (banks regulator)] the 14 mortgage servicers covered by the enforcement actions began mailing letters to eligible borrowers that explain 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. Borrowers may also visit

www.IndependentForeclosureReview.com for more information about the review and claim process. Assistance with requesting a review 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).

Has anyone received this mailing from their lender? Has anyone requested a review yet? Please note that requests for review must be received by April 30, 2012.

Consent orders were issued on April 13, 2011 and taken out against the following list of banks:

  1. Bank of America
  2. Citibank
  3. HSBC
  4. JP Morgan Chase
  5. MetLife Bank
  6. PNC
  7. U.S. Bank 
  8. Wells Fargo
  9. Aurora Bank
  10. EverBank
  11. One West Bank
  12. Sovereign Bank.

Independent Foreclosure Review--Each bank has been assigned a firm to conduct the review.

Phone 1-888-952-9105

Monday through Friday from 8 a.m. to 10 p.m. (ET)

Saturday from 8 a.m. to 5 p.m. (ET).

The OCC press release can be found at http://www.occ.treas.gov/news-issuances/news-releases/2011/nr-occ-2011-133.html

Independent Foreclosure Review Process Available for Struggling Homeowners

Posted by

Jason Hector, Real Estate Broker, CA Dept of Real Estate Lic. #01481898
(818) 357-9658 Cell
(866) 791-3290 Fax
jhector@socal.rr.com
www.jasonhector.com
Broker--Action Investments
11630 Seminole Circle
Northridge, CA 91326
(800)-626-6469 Phone
(866)-791-3290 Fax

Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Jason, thanks for posting this information. I'm suggesting and re-blogging to get the word out. Many homeowners need to know. 

Dec 20, 2011 05:59 PM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

This is interesting because it makes me wonder what their motive is for doing this.  I will have to research this more to see what the outcome will be after these reviews.

Dec 21, 2011 12:28 AM
Anonymous
Jason Ian Hector

The lender's were required to do these reviews as part of the consent order from the regulator, the OCC.

Jan 04, 2012 08:51 AM
#3
Jason Ian Hector
Action Investments and Hawaii Pacific Realty - Porter Ranch, CA
Real Estate Broker in California and Hawaii

Good news, the program has been extened!!!  All Requests for Review Forms must be submitted online or postmarked no later than September 30, 2012.

 

Jul 24, 2012 01:14 PM