Foreclosure Settlement :: The Construction Management Pro

Foreclosure Settlement

In January 2013, an agreement between 11 mortgage servicers and the Federal Bank regulators was reached. That agreement ended the independent Foreclosure review program.

Parties to the agreement included Aurora, Bank of America, Citibank, JPMorgan Chase, HSBC, MetLife Bank, PNC, Sovereign, SunTrust, US Bank, Wells Fargo and their affiliates or acquired loan servicing companies.

The agreement stipulates that borrowers whose mortgage loans were serviced by any of the participating entities and were involved in a foreclosure proceeding between January 1, 2009 and December 21, 2010 will receive compensation even if a request for review form was not submitted by the December 21, 2010 deadline.

Eligible borrowers should have been to be contacted by the Paying Agent, Rust Consulting, Inc., by March 31, 2013 with payment details. Borrowers can call the Paying Agent at 1-888-952-9105 to update their contact information or to verify that they are covered by the agreement’s amendments.

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One Response to “Foreclosure Settlement”

  1. money on the internet on December 21st, 2013 4:07 pm

    Good article. I will be facing many of these issues as well..

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