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 overall amount readily available for distribution.

Checks related to OCC-regulated banks covered by the IFR Payment Agreement ended December 31, 2016. No extra checks will be released.

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 under the Independent Foreclosure Review (IFR) Payment Agreement. The OCC anticipates to escheat an extra $4 million to state authorities by February 2017 to complete the IFR Payment Agreement program. Eligible debtors and their successors might claim unclaimed funds obligated to them through their states' escheatment processes. Each state has different timelines, however it might be 6 months or more after the funds are escheated to the states before the particular state is able to provide payments under their unclaimed residential or commercial property processes. There is no time limit within which qualified people must request funds under the states' unclaimed funds processes.

Foreclosure Prevention Assistance

Regulators motivate customers requiring foreclosure prevention assistance to work straight with their servicer or get in touch with 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 nonprofit organization that can offer totally free 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 verification of restorative actions, the OCC has actually terminated foreclosure-related consent orders against 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 permission orders versus Aurora Bank, FSB, and MetLife Bank, N.A., were terminated previously by operation of law after these institutions ceased to operate as managed, guaranteed depository organizations.

Federal Bank Regulators Fine Document Processor $65 Million

The federal banking companies fined ServiceLink Holdings, LLC (ServiceLink Holdings), $65 million for improper actions by its predecessor business, Lender Processing Services, Inc. (LPS), which led to substantial deficiencies 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 start 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 launched a report on IFR Payment Agreements that supplies data on the status of payments and foreclosure prevention support in addition to a conversation of observations from the evaluations. 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 approval orders released in April 2011 to fix lacking mortgage maintenance and foreclosure processes. 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 assessments in the fourth quarter of 2010 and released 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 specific business constraints associated with mortgage maintenance activities of EverBank