Interagency Independent Foreclosure Review – File Your CLAIM
By Daniel Edstrom
DTC Systems, Inc.
The following regarding the numerous Cease and Desist Consent Orders issued against servicers and others for unsafe or unsound foreclosure policies and practices is available here: http://www.independentforeclosurereview.com/
Independent Foreclosure Review
Looking for information about the Independent Foreclosure Review? Si usted habla español, tenemos representantes que pueden asistirle en su idioma.
Homeowners whose primary residence was part of a foreclosure action between January 1, 2009 and December 31, 2010, and whose home loan was serviced by a participating servicer, may be eligible for an Independent Foreclosure Review.
The Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency (federal bank regulators) have required an Independent Foreclosure Review by an independent consultant to identify eligible customers who may have been financially injured due to errors, misrepresentations or other deficiencies in their foreclosure process. If the review finds that financial injury occurred, the customer may receive compensation or other remedy.
To qualify, your mortgage loan would need to meet the initial eligibility criteria:
•Your mortgage loan was serviced by one of the participating mortgage servicers.
•Your mortgage loan was active in the foreclosure process between January 1, 2009 and December 31, 2010.
•The property was your primary residence.
Eligible customers will be mailed a letter by December 31, 2011 that explains the Independent Foreclosure Review process and a Request for Review Form that identifies some examples of situations that may have led to financial injury. The form must be completed and postmarked not later than April 30, 2012.
If your mortgage loan meets the initial eligibility criteria and you have questions, need a form by mail, or need help completing the form you have received in the mail, call 1-888-952-9105, Monday through Friday, 8 a.m.–10 p.m. ET or Saturday, 8 a.m.–5 p.m. ET.
Esta información es precisa a la fecha de impresión y está sujeta a cambios sin previo aviso. Tenga en cuenta que el resto de la correspondencia, documentos legales y notas aclaratorias le serán suministrados en inglés. Le recomendamos que obtenga los servicios de un intérprete independiente para que le ayude según sus necesidades. This information is accurate as of date of printing and is subject to change without notice. All other communications, legal documents and disclosures will be provided to you in English. We recommend that you obtain the services of an independent third party interpreter to assist you as needed.
Frequently asked questions and answers
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Q1. What is the Independent Foreclosure Review?
As part of a consent order with federal bank regulators, the Office of the Comptroller of the Currency (OCC), the Office of Thrift Supervision (OTS) (independent bureaus of the U.S. Department of the Treasury), or the Board of Governors of the Federal Reserve System, fourteen mortgage servicers and their affiliates are identifying customers who were part of a foreclosure action on their primary residence during the period of January 1, 2009 to December 31, 2010.
The Independent Foreclosure Review is providing homeowners the opportunity to request an independent review of their foreclosure process. If the review finds that financial injury occurred as a result of errors, misrepresentations or other deficiencies in the servicer’s foreclosure process, the customer may receive compensation or other remedy.
Q2. What is a foreclosure action? What foreclosure actions are part of the Independent Foreclosure Review?
Foreclosure actions include any of the following occurrences on a primary residence between the dates of January 1, 2009 and December 31, 2010:
•The property was sold due to a foreclosure judgment.
•The mortgage loan was referred into the foreclosure process but was removed from the process because payments were brought up-to-date or the borrower entered a payment plan or modification program.
•The mortgage loan was referred into the foreclosure process, but the home was sold or the borrower participated in a short sale or chose a deed-in-lieu or other program to avoid foreclosure.
•The mortgage loan was referred into the foreclosure process and remains delinquent but the foreclosure sale has not yet taken place.
Q3. How do I know if I am eligible for the Independent Foreclosure Review?
Your loan must first meet the following initial eligibility criteria:
•Your mortgage loan was serviced by one of the participating mortgage servicers in Question 4.
•Your mortgage loan was active in the foreclosure process between January 1, 2009 and December 31, 2010.
•The property was your primary residence.
If your mortgage loan does not meet the initial eligibility criteria outlined above, you can still have your mortgage concerns considered by calling or writing your servicer directly.
Q4. Who are the participating servicers? What mortgage servicers and their affiliates are part of the Independent Foreclosure Review process?
The list of participating servicers includes:
America’s Servicing Co.
Aurora Loan Services
Bank of America
Beneficial
Chase
Citibank
CitiFinancial
CitiMortgage
Countrywide
EMC
EverBank/EverHome Mortgage Company
GMAC Mortgage
HFC
HSBC
IndyMac Mortgage Services
MetLife Bank
National City Mortgage
PNC Mortgage
Sovereign Bank
SunTrust Mortgage
U.S. Bank
Wachovia Mortgage
Washington Mutual (WaMu)
Wells Fargo Bank, N.A.
Q5. What are some examples of financial injury due to errors, misrepresentations or other deficiencies in the foreclosure process?
Listed below are examples of situations that may have led to financial injury. This list does not include all situations.
•The mortgage balance amount at the time of the foreclosure action was more than you actually owed.
•You were doing everything the modification agreement required, but the foreclosure sale still happened.
•The foreclosure action occurred while you were protected by bankruptcy.
•You requested assistance/modification, submitted complete documents on time, and were waiting for a decision when the foreclosure sale occurred.
•Fees charged or mortgage payments were inaccurately calculated, processed, or applied.
•The foreclosure action occurred on a mortgage that was obtained before active duty military service began and while on active duty, or within 9 months after the active duty ended and the servicemember did not waive his/her rights under the Servicemembers Civil Relief Act.
Q6. How does my mortgage loan get reviewed as part of the Independent Foreclosure Review?
Homeowners meeting the initial eligibility criteria will be mailed notification letters with an enclosed Request for Review Form before the end of 2011.
If you believe that you may have been financially injured, you must submit a Request for Review Form postmarked no later than April 30, 2012. Forms postmarked after this date will not be eligible for the Independent Foreclosure Review.
If you have more than one mortgage account that meets the initial eligibility criteria for an independent review, you will receive a separate letter for each. You will need to submit a separate Request for Review Form for each account. It is important that you complete the form to the best of your ability. All information you provide may be useful.
Q7. How can I submit the Request for Review Form?
Homeowners meeting the initial eligibility criteria will be mailed notification letters with an enclosed Request for Review Form before the end of 2011. If you received the notification letter, you can send in your Request for Review Form in the prepaid envelope provided, postmarked no later than April 30, 2012.
If your loan is part of the initial eligible population and you need a new form by mail, have questions, or need help completing the form you have received in the mail, call 1-888-952-9105, Monday through Friday, 8 a.m.–10 p.m. ET or Saturday, 8 a.m.–5 p.m. ET.
Q8. Who can submit or sign the Request for Review Form?
Either the borrower or a co-borrower of the mortgage loan can submit and sign the form. The borrower signing the Request for Review Form should be authorized by all borrowers to proceed with the request for review. In the event of a finding of financial injury, any possible compensation or remedy will take into consideration all borrowers listed on the loan, either directly or to their trusts or estates.
Q9. What if one of the borrowers has died or is injured or debilitated?
Any borrower, co-borrower or attorney-in-fact can sign the form. In the event of a finding of financial injury, any possible compensation or other remedy will take into account all borrowers listed on the mortgage loan either directly or to their trusts or estates.
Q10. Do I need an attorney to request or submit the Request for Review Form?
No. However, if your mortgage loan meets the initial eligibility criteria and you are currently represented by an attorney with respect to a foreclosure or bankruptcy case regarding your mortgage; please refer to your attorney.
The Independent Foreclosure Review is free. Beware of anyone who asks you to pay a fee in exchange for a service to complete the Request for Review Form.
Q11. If I have already submitted a complaint to my servicer, do I need to submit a separate Request for Review Form to participate in this process?
If your mortgage loan meets the initial eligibility criteria, you should submit a Request for Review Form to ensure your foreclosure action is included in the Independent Foreclosure Review process.
Q12. What happens during the review process?
You will be sent an acknowledgement letter within one week after your Request for Review Form is received by the independent review administrator. Your request will be reviewed for inclusion in the Independent Foreclosure Review. If your request meets the eligibility requirements, it will be reviewed by an independent consultant.
Your servicer will provide relevant documents along with any findings and recommendations related to your request for review to the independent consultant for review. Your servicer may be asked to clarify or confirm facts and disclose reasons for events that occurred related to the foreclosure process. You could be asked to provide additional information or documentation. Because the review process will be a thorough and complete examination of many details and documents, the review could take several months.
The Independent Foreclosure Review will determine whether financial injury has occurred as a result of errors, misrepresentations or other deficiencies in the foreclosure process. You will receive a letter with the findings of the review and information about possible compensation or other remedy.
Q13. How do I know who my servicer is? How do I find them?
The company you sent your monthly mortgage payments to is your mortgage servicer. It is not necessarily the company whose name is on the actual foreclosure documents (although in most cases, it is). If you don’t remember the name of the servicer for your foreclosed property, we suggest you review cancelled checks, bank statements, online statements or other records for this information.
If you are still unsure of who your mortgage servicer is or do not see their name listed in Q4, please call 1-888-952-9105, Monday through Friday, 8 a.m.–10 p.m. ET or Saturday, 8 a.m.–5 p.m. ET.
Q14. If I request an Independent Foreclosure Review, is there a cost or will there be a negative impact to my credit?
The Independent Foreclosure Review is a free program. Beware of anyone who asks you to pay a fee in exchange for a service to complete the Request for Review Form.
The review will not have an impact on your credit report or any other options you may pursue related to your foreclosure.
Q15. Where can I call if I need help completing the form or have any questions about the review process?
Call 1-888-952-9105 Monday through Friday, 8 a.m.–10 p.m. ET or Saturday, 8 a.m.–5 p.m. ET. If you have already submitted a Request for Review Form, please have your Reference Number available to expedite your call.
Q16. How are military servicemembers affected by the Independent Foreclosure Review?
In the review, servicers are required to include all loans covered by the Servicemembers Civil Relief Act that meet the qualifying criteria. However, servicemembers or co-borrowers may also request a review through this process. Financial injury may have occurred if the foreclosure action occurred on a mortgage that was obtained before active duty military service began and while on active duty, or within 9 months after the active duty ended.
Q17. How am I affected if I submit a Request for Review Form while in active bankruptcy?
If you submit a Request for Review Form and a review is conducted of your foreclosure process, this will have no impact on your bankruptcy. The letter being sent to you about the Independent Foreclosure Review is not an attempt to collect a debt. If you are in bankruptcy, please refer this letter to your attorney.
Q18. I’m still working with my servicer to prevent a foreclosure sale. Will I still be able to work with them?
Yes, continue to work with your servicer. Participating in the review will not impact any effort to prevent a foreclosure sale. The review is not intended to replace current active efforts with your servicer.
Q19. How long will the review process take and when can I expect a response?
You will be sent an acknowledgement letter within one week after your Request for Review Form is received by the independent review administrator. Because the review process will examine many details and documents, the review could take several months. The Independent Foreclosure Review will determine if financial injury occurred as a result of the servicer’s errors, misrepresentations or other deficiencies in the foreclosure process. You will receive a letter with the findings of the review and information about possible compensation or other remedy. Not every finding will result in compensation or other remedy.
Q20. What happens if the review finds that I was financially injured as a result of errors, misrepresentations or other deficiencies in the foreclosure process?
You will receive a letter with the findings of the review and information about possible compensation or other remedy. The compensation or other remedy you may receive will be determined by your specific situation. Not every finding will result in compensation or other remedy.
Q21. What happens if the review finds that I was not financially injured as a result of errors, misrepresentations or other deficiencies in the foreclosure process?
You will receive a letter with the findings of the review. Not every finding will result in compensation or other remedy.
Q22. What if I disagree with the eligibility requirements or the result of the Independent Foreclosure Review?
The decision of the review is considered final and there is no further recourse within the Independent Foreclosure Review process. The Independent Foreclosure Review will not have an impact on any other options you may pursue related to the foreclosure process of your mortgage loan.
Q23. Does filing a Request for Review Form prevent me from filing other litigation or action against the servicer?
No. Submitting a request for an Independent Foreclosure Review will not preclude you from any other options you may pursue related to your foreclosure.
This policy is effective as of October 15, 2011
- Applicability. This site is managed by Rust Consulting, Inc. This Privacy Policy is for the Independent Foreclosure Review (“Privacy Policy”) and applies to the collection of information on this site and subsequent sharing of that information. The servicer(s) with whom you have relationship(s) have their own privacy policy or policies in addition to this privacy policy. Those additional privacy policies continue to apply to your relationship(s) with that servicer or servicers, as described in those policies. In connection with your use of this site, this Privacy Policy supplements those existing policies.
- Information Collection. This site will collect any personal information that you submit on this site, such as your name, address, phone number and email address. This site also collects information provided in response to the Request for Review Form relating to your home mortgage loan.
- Sharing of Information. The information that you submit on this site will be available to the servicer(s) of your mortgage loan and may be shared with an independent consultant of that servicer(s). Your information will also be shared with service provider(s) used by your financial institution. When permitted by law or where required to comply with the law, information may be shared with other third parties, such as in response to legal process.
- Effective Date and Policy Changes. This Privacy Policy is effective as of the date listed above. If it is necessary to make changes to this Privacy Policy, we will update it with the changes and new effective date and post it here.
Will it help to slow down my foreclosure process at all?
My foreclosure is eligible for review.
My state is backed up with foreclosures and I am hoping mine continues to move slowly.
I am in the process of getting my income back to where it used to be.
Jack,
New Jersey
You should file a ” MOTION TO STAY FORECLOSURE PROCEEDINGS PENDING A DECISION OF AN INDEPENDANT FORECLOSURE REVIEW, ORDERED BY THE U.S. GOVERNMENT. Put in your motion that it would be unjust to continue with the proceedings any furthur due to the fact that all documents and affidavits, etc.are now subject to a review of their authenticity, they may be fraudulant, the affiant is not competent and the information is not made on personal knowledge,make yourself out to be victimized already.
If the documents submitted by any of these banks that are ordered to comply with the Cease and Desist Order/Consent Order are part of your foreclosure court file as evidence of the debt that is the subject matter of their action against you, those documents could be fraudulant and willfully submitted with intent to fraud. they are subject to a U.S. Gov. ordered review. that creates a Genuine Issue of Material fact until a decision is rendered from the Independant Foreclosure Review. As I,ve stated any documents from these banks are not reliable til reviewed.
There cannot be any Genuine Issues of Material Facts for the Bank to be granted a Summary Judgement decision in their favor, enabling them to go ahead and foreclose. Use the Independant Foreclosure Review of all the documents, affidavits, and the very review of the foreclosure process itself as THAT Genuine Issue of Material Fact that exists in the case, ALL THE PLAINTIFF’S DOCUMENTS submitted and/or filed in the case are UNRELIABLE as evidence of ANYTHING especially a debt until reviewed and decided if AUTHENTIC/FALSE ??
Please post a link to a Word format “Motion to Stay”
My advice is not intended to be legal advice, but a “Motion to Stay” is a good way to stay the pending action. Of course its the courts decision as whether or not the action will be stayed, but the foreclosing party may NOT be “The-Real-Party-In-Interest”. It is stated in the CONSENT ORDER that foreclosure processes may have been initiated in the name of the bank that may not have been the actual owner of the note. Look up your states laws, stautes, and civil procedure rules regarding motions to stay the proceedings.
Stay the proceedings pending the decision of the Independent Foreclosure Review decision. State that “justice” may not be truly served and further injury may be caused to the defending party. The outcome of the review is the only avenue that will reveal the truth.