Participating servicers under the Agreement, including their current and former affiliates,
- America’s Servicing Company
- Aurora Loan Services
- BAC Home Loans Servicing
- Bank of America
- EMC Mortgage Corporation
- EverBank/EverHome Mortgage Company
- GMAC Mortgage
- Goldman Sachs
- Litton Loan Servicing LP
- MetLife Bank
- Morgan Stanley
- National City Mortgage
- PNC Mortgage
- Saxon Mortgage
- Sovereign Bank (now known as Santander Bank)
- SunTrust Mortgage
- U.S. Bank
- Wachovia Mortgage
- Washington Mutual (WaMu)
- Wells Fargo Bank, N.A.
- Wilshire Credit Corporation
In January 2013, an Agreement between 13 mortgage servicers and federal banking
regulators was reached that ended the Independent Foreclosure Review program for
those servicers. Borrowers covered by the Agreement include 4.2 million borrowers
whose homes were in any stage of the foreclosure process in 2009 or 2010 and whose
mortgages were serviced by one of the companies listed above. Payments to these
borrowers were sent beginning in April 2013 and the majority of payments have now
been sent, with the remaining payments expected to be mailed by the summer of 2014.
In the summer of 2013, GMAC Mortgage reached an agreement with the federal banking
regulators that ended the Independent Foreclosure Review. Payments to the majority
of GMAC Mortgage borrowers were mailed at the end of January 2014. The remaining
payments, which required additional information from borrowers in order to process,
are expected to be mailed over the coming months.
In the summer of 2013, EverBank also reached an agreement with the federal banking
regulators that ended the Independent Foreclosure Review. Epiq Systems is the Paying
Agent for the EverBank agreement. EverBank borrowers should expect to receive their
payments shortly after the first quarter of 2014. For questions related to the EverBank
agreement, please visit www.EverBankIndependentForeclosureReview.com. If you have
a specific question, you can contact Epiq Systems at 1-877-819-9754, or send an
email to: info@EverBankIndependentForeclosureReview.com, or send a letter to: EverBank
IFR Payment Agreement, PO Box 2730, Portland, OR 97208-2730.
Borrowers covered by the Agreement are expected to receive compensation ranging
from hundreds of dollars up to $125,000. Borrowers are not required to take any
additional steps to receive a payment.
Borrowers receiving a payment as a result of the Agreement will not be required
to sign a waiver of any legal claims they may have against their servicer as a condition
for receiving payment.
For questions, call 1-888-952-9105.
Monday through Friday, 8 am - 10 pm ET or Saturday, 8 am - 5 pm ET
The Independent Foreclosure Review Payment Agreement is monitored by federal banking
the Office of the Comptroller of the Currency and the Board of Governors of the
Federal Reserve System,
to ensure a fair and impartial process.
THE INDEPENDENT FORECLOSURE REVIEW IS FREE.
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
or to receive a payment under the Agreement.