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Under the Independent Foreclosure Review (IFR) Payment Agreement, more than $3.2 billion was distributed to more than 3.6 million eligible customers, representing more than 90 percent of the overall amount offered for circulation.

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

In June 2016, the Office of the Comptroller of the Currency (OCC) escheated around $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 may claim unclaimed funds bound to them through their states' escheatment procedures. Each state has various timelines, however it may 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 individuals need to ask for funds under the states' unclaimed funds procedures.

Foreclosure Prevention Assistance

Regulators motivate debtors requiring foreclosure prevention assistance to work directly with their servicer or call the Homeowner's HOPE 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 company that can supply totally free help.

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 permission 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 permission orders versus Aurora Bank, FSB, and MetLife Bank, N.A., were terminated previously by operation of law after these institutions ceased to run as controlled, guaranteed depository organizations.

Federal Bank Regulators Fine Document Processor $65 Million

The federal banking agencies fined ServiceLink Holdings, LLC (ServiceLink Holdings), $65 million for improper actions by its predecessor business, Lender Processing Services, Inc. (LPS), which resulted in significant shortages in the foreclosure-related services that LPS offered 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 begin 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 Agrees to Pay $37 Million. EverBank FAQs
vice.com
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 offers information on the status of payments and foreclosure avoidance help in addition to a conversation of observations from the reviews. Report on Independent Foreclosure Review Payment Data (May 2013) - This report offers data on IFR payments by state as of May 31, 2013. Interim Status Report: Foreclosure-Related Consent Orders (June 21, 2012) - The OCC released its second interim report on the status of the IFR and actions needed by authorization orders issued 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 conducted 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 Implementing Business Restrictions Against Certain Banks (Issued June 2015) Show
  
  On June 17, 2015, the OCC announced particular business constraints related to mortgage servicing activities of EverBank; HSBC Bank USA, N.A.; JPMorgan Chase Bank, N.A.; Santander Bank, National Association; U.S. Bank National Association; and Wells Fargo Bank, N.A. These limitations differed based upon the specific situation of each bank.
  
  Amended Consent Orders for EverBank (June 17, 2015) (PDF). Amended Consent Orders for HSBC Bank USA, N.A. (June 17, 2015) (PDF). Amended Consent Orders for JPMorgan Chase Bank, N.A. (June 17, 2015) (PDF). Amended Consent Orders for Santander Bank, National Association (June 17, 2015) (PDF). Amended Consent Orders for U.S. Bank National Association (June 17, 2015) (PDF). Amended Consent Orders for Wells Fargo Bank, N.A. (June 17, 2015) (PDF)
  
  Enforcement Action Amendments for Servicers Entering the IFR Payment Agreement (Issued February 2013) Show
  
  - Consent Order Amendment for Aurora Bank, FSB (PDF).
• Consent Order Amendment for Bank of America (PDF).
• Consent Order Amendment for Citibank (PDF).
• Consent Order Amendment for EverBank (PDF) (provided 10/16/2013).
• Consent Order Amendment for HSBC Bank (PDF).
• Consent Order Amendment for JPMorgan Chase Bank, N.A. (PDF).
• Consent Order Amendment for MetLife Bank, N.A. (PDF).
• Consent Order Amendment for PNC Bank, N.A. (PDF).
• Consent Order Amendment for Sovereign Bank (PDF).
• Consent Order Amendment for U.S. Bank National Association, U.S. Bank National Association ND (PDF).
• Consent Order Amendment for Wells Fargo Bank, N.A. (PDF)
  
  OCC and Former OTS Enforcement Actions (Issued April 2011) Show
  
  - Consent Order for Aurora Bank, FSB (PDF).
• Consent Order for Bank of America (PDF).
• Consent Order for Citibank (PDF).
• Consent Orders for EverBank and EverBank Financial Corp. (PDF).
• Consent Order for HSBC Bank (PDF).
• Consent Order for JPMorgan Chase Bank, N.A. (PDF).
• Consent Order for LPS; DocX, LLC; and LPD Default Solutions, Inc. (PDF).
• Consent Order for MetLife Bank, N.A. (PDF).
• Consent Order for MERSCORP and Mortgage Electronic Registration Systems, Inc. (MERS) (PDF).
• Consent Orders for OneWest Bank, FSB and IMB HoldCo LLC (PDF).
• Consent Order for PNC Bank, N.A. (PDF).
• Consent Order for Sovereign Bank (PDF). - Consent Order for U.S. Bank National Association, U.S. Bank National Association ND (PDF).
• Consent Order for Wells Fargo Bank, N.A. (PDF)
  
  Engagement Letters Show
  
  The OCC launched engagement letters that describe how the independent specialists, maintained by the servicers, will perform their reviews and claims processes in accordance with the OCC's consent orders. See the engagement letters.