Under the Independent Foreclosure Review (IFR) Payment Agreement, more than $3.2 billion was distributed to more than 3.6 million qualified debtors, representing more than 90 percent of the total quantity readily available for circulation.
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Checks associated with OCC-regulated banks covered by the IFR Payment Agreement ended December 31, 2016. No extra checks will be provided.

In June 2016, the Office of the Comptroller of the Currency (OCC) escheated roughly $270 million to state authorities, in connection with the agency-supervised payments under the Independent Foreclosure Review (IFR) Payment Agreement. The OCC anticipates to escheat an additional $4 million to state authorities by February 2017 to complete the IFR Payment Agreement program. Eligible debtors and their successors might declare unclaimed funds bound to them through their states' escheatment processes. Each state has different timelines, however it might be six months or more after the funds are escheated to the states before the respective state is able to supply payments under their unclaimed residential or commercial property processes. There is no time limit within which qualified people should ask for funds under the states' unclaimed funds processes.

Foreclosure Prevention Assistance

Regulators encourage debtors requiring foreclosure prevention assistance to work directly with their servicer or contact 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 Urban Development approved not-for-profit company that can supply complimentary support.

In This Section

OCC Terminates Foreclosure-Related Consent Orders Federal Bank Regulators Fine Document Processor $65 Million EverBank Payment Agreement Related Reports Other Related Documents En Español

OCC Terminates Foreclosure-Related Consent Orders

Following the confirmation of restorative actions, the OCC has ended foreclosure-related permission orders versus the following banks.

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)

Foreclosure-related approval orders versus Aurora Bank, FSB, and MetLife Bank, N.A., were ended previously by operation of law after these organizations stopped to run as regulated, guaranteed depository institutions.

Federal Bank Regulators Fine Document Processor $65 Million

The federal banking agencies fined ServiceLink Holdings, LLC (ServiceLink Holdings), $65 million for improper actions by its predecessor company, Lender Processing Services, Inc. (LPS), which led to considerable shortages in the foreclosure-related services that LPS provided to mortgage servicers.

Civil Money Penalty Order (PDF) (January 24, 2017)

IFR Payment Agreement

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

EverBank Payment Agreement

EverBank Amended Order. EverBank Accepts Pay $37 Million. EverBank FAQs

Related Reports

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 information on the status of payments and foreclosure prevention help as well as a conversation of observations from the reviews. Report on Independent Foreclosure Review Payment Data (May 2013) - This report supplies data on IFR payments by state since May 31, 2013. Interim Status Report: Foreclosure-Related Consent Orders (June 21, 2012) - The OCC released its 2nd interim report on the status of the IFR and actions needed by authorization orders issued in April 2011 to remedy deficient mortgage servicing 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 carried out interagency evaluations in the fourth quarter of 2010 and published a summary of findings in April 2011.

Other Related Documents

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  Enforcement Acton Amendments Implementing Business Restrictions Against Certain Banks (Issued June 2015) Show
  
  On June 17, 2015, the OCC announced certain company restrictions related to mortgage maintenance activities of EverBank