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OCC: $2.6B foreclosure review checks cashed

OCC: 68% of ‘Independent Foreclosure Review’ Checks have Cleared June 1, 2013 Staff 7 Comments independent foreclosure review checks totaling more than $3.4 billion (out of $3.6 billion in total compensation) have been mailed by Rust Consulting, the payout administrator of the Independent Foreclosure Review.

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As of January 2015, more than 3.4 million of these checks, totaling more than $3.1 billion, had been cashed or deposited. This represents approximately 87 percent of the total amount of funds these servicers were required to pay. Nearly 600,000 checks mailed to borrowers of these 13 servicers remain outstanding, and have now expired.

The Fed and the OCC on Wednesday said that they had mailed out checks to nearly 4.2 million eligible borrowers in April 2013, and that more than 3.4 million of the checks had been cashed or.

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As of the end of May, borrowers have cashed or deposited 2.6 million foreclosure review checks, according to the latest update from the Office of the Comptroller of the Currency (OCC). The checks are valued at $2.3 billion and are part of a foreclosure settlement reached in January between the OCC, the Federal Reserve Board, and 13 servicers.

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 · As a result of this agreement, the Independent Foreclosure Review ceased at those servicers. A full list of companies and their affiliates or subsidiaries covered by the agreement are listed below. The agreement provides $3.6 billion in cash payments to borrowers covered by the agreement.

Nearly 3 million people have cashed or deposited more than $2.6 billion in checks related to the Independent Foreclosure Review settlement, with the mass mailing finally nearing its close.

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Washington D.C. fails in terms of home affordability Less than three months into 2018, the Washington Legislature has already had an incredibly productive year. Like most states, Washington is experiencing an affordable housing crisis, but this year affordable housing advocates achieved some significant victories that would spur the production of new units, provide more tenant protections, and improve services for the homeless.

Only $3.6 billion was earmarked for cash. to check it out, and in late February, in a story called “Foreclosure Files Detail Error Gap,” the paper discovered that the error numbers were almost.

Here’s evidence showing the housing “recovery” isn’t real The housing market, in other words, is showing overall improvement, although some metrics (home prices) look rosier than others (employment, new construction.) The overall recovery isn’t a neat, straight line, but rather a scattered picture of the many variables that, together, weave the tapestry that values American homes.

The homepage of the servicing industry. In separate statements Tuesday, the Office of the Comptroller of the Currency (OCC), FDIC, and the Federal reserve board (frb) proposed a rule that would.

Some $3.6 billion of that money will go toward cash. were in foreclosure in 2009 and 2010 could expect to begin receiving checks later this week, the vast majority of which will be less than $1,000.

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