The Federal Reserve Board issued enforcement actions against four large mortgage servicers
If you had a mortgage loan on your primary residence and believe you were financially harmed during the mortgage foreclosure process by any of the four servicers in 2009 or 2010, you can request an independent review and potentially receive compensation. The four servicers are required to make the independent reviews available to borrowers as part of their compliance with the April 2011 enforcement actions.
A number of servicers supervised by the Office of the Comptroller of the Currency (OCC) are also required to conduct independent reviews. (See below for the full list of servicers.)
Eligibility for Review
Borrowers are eligible for an independent foreclosure review if they meet the following criteria:
If you previously filed a complaint with these servicers about foreclosures pending during the review period, you may still seek an independent review of your foreclosure.
There are no costs associated with being included in the review; the review is a free program. Beware of anyone who wants payment to assist you in connection with the independent foreclosure review or any other foreclosure assistance program.
Information about the review process, including how to request an independent review, was mailed to potentially eligible borrowers in November and December 2011. If you believe that you meet the three criteria but have not received a mailing, call 800-475-NCRC (6272). Individuals can also get more information about the review through a website set up by the servicers, www.IndependentForeclosureReview.com. A list of Frequently Asked Questions and Answers are available on the website.
Don’t Delay. Call Us Today. (800) 475-NCRC
Watch out for scams – there is only one Independent Foreclosure Review. Beware of anyone who asks you to pay a fee for any foreclosure review service, such as completing the Request for Review Form.