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Under the Independent Foreclosure Review (IFR) Payment Agreement, more than $3.2 billion was dispersed to more than 3.6 million eligible debtors, representing more than 90 percent of the overall amount offered for distribution.
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Checks associated with OCC-regulated banks covered by the IFR Payment Agreement expired December 31, 2016. No additional checks will be issued.

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 extra $4 million to state authorities by February 2017 to complete the IFR Payment Agreement program. Eligible customers and their beneficiaries might claim unclaimed funds obligated to them through their states' escheatment procedures. Each state has different timelines, however it might be 6 months or more after the funds are escheated to the states before the respective state has the ability to supply payments under their unclaimed residential or commercial property processes. There is no time limit within which qualified people need to ask for funds under the states' unclaimed funds procedures.

Foreclosure Prevention Assistance

Regulators encourage debtors needing foreclosure avoidance 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 authorized nonprofit company that can offer 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 verification of restorative actions, the OCC has terminated foreclosure-related approval 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 authorization orders against Aurora Bank, FSB, and MetLife Bank, N.A., were ended previously by operation of law after these organizations stopped to run as controlled, guaranteed depository institutions.

Federal Bank Regulators Fine Document Processor $65 Million

The federal banking firms fined ServiceLink Holdings, LLC (ServiceLink Holdings), $65 million for inappropriate actions by its predecessor business, Lender Processing Services, Inc. (LPS), which led to considerable 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 provides information on the status of payments and foreclosure prevention help along with a conversation of observations from the evaluations. Report on Independent Foreclosure Review Payment Data (May 2013) - This report supplies information on IFR payments by state since May 31, 2013. Interim Status Report: Foreclosure-Related Consent Orders (June 21, 2012) - The OCC launched its 2nd interim report on the status of the IFR and actions needed by approval orders provided in April 2011 to remedy lacking mortgage servicing 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 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 Restrictions Against Certain Banks (Issued June 2015) Show
  
  On June 17, 2015, the OCC revealed certain service restrictions associated with mortgage maintenance activities of EverBank