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OCC: 2.7M Foreclosure Review Checks Cashed Out of the 3.9M Sent

The ""Office of the Comptroller of the Currency"":http://www.occ.gov/ (OCC) announced more than 2.7 million foreclosure review checks have been cashed or deposited as of June 13.


The cashed checks are valued at $2.4 billion and are part of a foreclosure review settlement reached between federal regulators and 13 servicers. The servicers--Aurora, Bank of America, Citibank, Goldman Sachs, HSBC, JPMorgan Chase, MetLife Bank, Morgan Stanley, PNC, Sovereign, SunTrust, U.S. Bank, and Wells Fargo--agreed to provide $3.6 billion in payments to an estimated 4.2 million borrowers.

So far, 3.9 million checks totaling more than $3.4 billion have been sent out.

Only borrowers who were in foreclosure in 2009 or 2010 and had a mortgage serviced by one of the participating companies are eligible for relief.

The OCC advised borrowers with questions to contact Rust Consulting, the paying agent, at 1-888-952-9105.

About Author: Esther Cho


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