Big News About Independent Foreclosure Review Money

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On March 18, 2013, approximately 4.2 million people were sent notices that they will receive remuneration as a result of an agreement between federal banking regulators and 13 mortgage servicers. The mailer comes from the paying agent, Rust Consulting (1-888-952-9105), and Rust Consulting is the only agency that should be contacted if (previously) distressed borrowers have any questions or concerns.

As you may recall, the Independent Foreclosure Review is part of the settlement associated with the robo-signing debacle of 2010 (title my own). As part of this review, 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.

Originally, 13 mortgage servicers sent solicitation letters to 4.2 million potential victims of robo-signing and other foreclosure-related (and potentially fraudulent) matters. These letters provided homeowners the opportunity to request an independent review of their foreclosure process (a.k.a. Independent Foreclosure Review). If the review found that financial injury occurred as a result of errors, misrepresentations, or other deficiencies in the servicer’s foreclosure process, the customer might receive compensation or another remedy.

The postcards/letters that were sent out by Rust Consulting on March 18, 2013 are small and white and sealed on three sides. They state that a check is in the mail and should be arriving within six to eight weeks. Questions about the status of the check or any other issues surrounding the Independent Foreclosure Review should be directed to Rust Consulting only, as Rust Consulting is the paying agent for the Federal Reserve Board.

As short sale agents, you will likely get lots of questions about this matter as many folks are eager to get their hands on the money. After all, this money will be seen as Christmas in April (or May)… depending upon when the check is in the mail.


    • Melissa Zavala

      This would be certain short sale sellers, loan mods went bad, and victims of robo-signing. Maybe you are not surrounding yourself with those folks?

    • ray sirico

      Ginny, I have over 30 short sale listings I am currently working on in RI and none of them have mentioned getting a check either. It could be a loan product that wasnt offered in this area because I am certainly surrounded by all types of folks!

  1. Edith Lott

    I received one of mentioned post cards a couple of weeks ago. Looking forward to see what the amount is.
    Our banker/mortgage service provider definately was not helpful when we were loosing our house. At the end we had 3 valid offers for a short sale (two all cash) and they would not take any of them. House forclosed and sat empty for over six months and later sold for a little more than the offers we had. Needless to say….we are very upset at how it all went down.

    • Mark W

      Edith, the same thing happened to me. Except they sold it for less than I was offered in a short sale. Nice work, BofA. Oh, and they fudged numbers to make it look like I was much, MUCH further behind in payments than I actually was.

  2. SB/Dave

    This is an example of how the money will be distributed…
    It took me about 20min to juggle the numbers, it will take OCC two to create the spin that the consumers are not being screwed…
    Category Number Affected Amout Total Payments in Category
    0 1000 $150,000.00 $150,000,000.00
    1 6000 $125,000.00 $750,000,000.00
    2 10000 $60,000.00 $600,000,000.00
    3 20000 $15,000.00 $300,000,000.00
    4 48000 $5,000.00 $240,000,000.00
    5 64000 $3,000.00 $192,000,000.00
    6 88000 $2,000.00 $176,000,000.00
    7 124000 $1,000.00 $124,000,000.00
    8 240000 $750.00 $180,000,000.00
    9 350000 $500.00 $175,000,000.00
    10 3250000 $250.00 $812,500,000.00
    Total: 4200000 $3,549,500,000.00

    • Angelique Rider-Mitchell


      I hope you’re still monitoring blog, b/c I’m impressed and appreciative of your mathematical abilities & I have a question/ comment.
      Its my understanding that the top payout is to be $125,000 not $150,000. Has something changed? If not, would you be willing to rework the distribution numbers? I’m pretty sure you’re you on the right track with the formula and the deafening silence from RUST is making me crazy!
      Thanks, Angie.

    • SB/DAVE

      Hi I read your breakdown and need to ask you smoe questions on it. Would love to chat with you on it. I am in one of those that was Done VERY wrong and my case was 01 Please e mail me

  3. Cook

    Thanks for the dollar breakdown. @Angelique Rider-Mitchell, part of the original framework was to pay for equity that was lost. That could be where the 150K is coming from. However, this framework was devised before the program was scrapped. So, things could change with it as well.

    @zuniga The banks are making the determination of injury now, but being over seed by the OCC and the Fed.

  4. Pete C

    SB/Dave –

    I thought I read that only 495,000 people would be eligible as you had to have filed a complaint … also, I hope that you’re wrong – why should those of us that were forced to file bankruptcy receive only a token amount that is chump change? I won’t accept anything less than my down-payment back, which was north of $70,000 for a house later sold for 45% or what I paid for it. Wells-Fargo wouldn’t negotiate, wouldn’t accept a short sale offer, PLUS a document was forged…


    • Iknowitall

      Your house was foreclosed on because you got in over your head with a mortgage that you knew you couldn’t afford. Take the blame yourself and learn from it. Consider the 70k you lost as tuition. Blaming the banks is weak.

      • nisha

        Why are you on this forum? You must be part of the Bank Institution. So what you are saying; over 4 million home owners got in over their head. Were you not aware on how the economy was in 2009-2010. Did you not here about all the layoffs? How many people lost their job due to the economy? Do you not know how many homeowners lost their job due to those layoffs. Yes blame the banks for not working with those who lost their jobs and gain employment shortly afterward. Why didn’t the banks work out a repayment plan, forbearance, or a loan modification? Why didn’t the banks approve those home owners who were eligible for these things and other mortgage work out plans?

        • therightsighter

          The banking institution we used was Wells Fargo, whom forged documents, gave us one copy of the Loan we would sighn 2 days before the sighning, and changed the terms of the loan without informing us, to an interest only loan which after we disputed for months as the economy went down and we noticed our payment go up to an amount that was unafforable for us….we put all we had saved down –(25K ) on this home and ending up losing it 2 years after purchase. Wells Fargo , as well as many other banks got a big fat save at taxpayer expenses. For this we got a $300 check today.

      • Dave

        Pull your head out of whatever crevasse you have it shoved into and give your brain a fresh dose of air. As individuals we must take responsibility for our own actions, this settlement makes the lender do the same for there bad acts. Bad things happen to good people, if I get $250 form this so be it, at least the banks of wall street will have 9.3 billon less.

      • Anna

        Ok “IKNOWITALL” obviously you are one of the scandelous individuals who either underwrote or sold many of these improper mortgages or perhaps you’re just a mean old man in depends or woman!

        A few people did not budget correctly I agree with you on some of that.

        These homeowners had properties that were in the families for years and even raise their kids there – the banks purposely would not re-work the mortgages so that they could stay in their homes. EVERYONE LOSING ESPCIALLY you!

        However, the real theives were on top racking in all the cash from the cash cow – knowing the milk was tainted. Explain why a mortgage loan would be approved and sold 7 times within 8 months – I’m speaking from experience and I also have the job of taking witness statements from the entire party involved from the banks to the surveyors –

  5. Myrt

    How do you know what category you fall under? Bank of America was my servicer – they offered a modification and as I was waiting for a response, they had placed my home in foreclosure – i found out 1 one day before it was to go to sale. The modification was granted but only for 3 months. Never once did they contact me I always had to contact them. They then refused another modification and forced me into a short sale. Contacted Rust to get information but they have no information as to the actual error made by the servicer.

  6. Ann

    Saxon mortgage gave me trial modification then denied permanent. This is the worst company in the world. I was dealing with people reading from s script. Lost document were the norm. On hold forever, didn’t agree with nothing we were trying to do to save our home. The categories do not make sense. We were all affected bt greed.

    • Niki

      After 2 years of ongoing financial updates, sun trust gave me a one year trial period. At the end they said they would make a decision as well as all payments were on time (they dropped my payments by 100/month). At about 13 months they sent me a notice declaring me into foreclosure. After several hours and phone calls later, they said I can avoid foreclosure by paying a lump sum of fees and no modification would come. In the end I found a buyer to make a short sale. The bank agreed as long as I paid them all the money left in my savings and signed an additional loan for 8000. I just decided to forclose and they sold it to the buyer I found anyways. I stopped paying in November and by Feburary they foreclosed and had new owners. I received my payment this week and it was a good one. I hope you are in the same category, although I’m pretty sure they did something illegal with their proceedings.

  7. Ann

    So upset with the mortgage companies. Our house was sold 2 times in less than 6 months after we purchased it from the first mortgage company. No help seems like they make more money when people lose their homes to foreclosure.

  8. Ann

    Saxon mortgage gave us a trial modification then denied permanent. This is the worst company in the world. I was dealing with people reading from a script. Lost documents were the norm. On hold forever, didn’t agree with nothing we were trying to do to save our home. The categories do not make sense. We were all affected by greed.

    • francie

      We also went through Saxon and I was out of work for 2 years and we had a modification and working with them, had the papers signed with a $700.00 agreed payment and the payment the following month came after the papers were signed for $1375.00 a month instead of the $700.00. Always getting the run around with them. Put us in foreclosure twice in 2009 and 2010 and they still would not correct what was agreed upon. We were eventually sold to another company in 2011.

      • cynthia

        How do I find out more, We lost our home in 2009 to foreclosure (Saxon ) was our mortgage company, not very nice people working there. same problem I asked to be put on Modification program only to be put on a repayment plan which was $1,000. more than the mortgage which we could not pay due to lost wages. we are now living in a apartment,which I am grateful to have a roof over our heads, but this was not the plan.

  9. Carol

    Yes, I was wondering the same thing. My husband and I were both unemployed and we tried for so long to keep our home. We could not get a loan modification because we were not employed! So, we ended up short selling at more that a 100K loss ….now I am wondering what we may receive with this settlement. It seems with technology these days, they would be able to tell us.

  10. Jason

    The previously communicated payment structure has been scrapped. The new categories will be posted mid April to the OCC website. These arr the new categories the banks will design for faster payment. I also heard that only around 4 or 5 hundred thousand of the 4.3 million post cards sent out were returned. Does anyone know anything about this number?

  11. Jason

    I have a facebook fan page that I post links to the websites for OCC and update. Its totally informational Affiliated Credit Consultants. I was unemployed and dealing with this so I created a website and facebook page. Could afford to keep up the website so took it down. Like the page and check out the info. I will post new information as it comes available.

  12. Danette

    I am so confused we were forced to short sale our home because it was in forclosure with BOA, they gave us some BS modification, our income met the requirements they only took 100 dollars off we begged and pleaded, but nothing was done. They put our home in forclosure without saying anything, we tried the forbearance, and other things and was denied when our income clearly met requirements for a way lower payment. on a 3400 a month mortgage they lowered it to 3300 like really? We received a post card and now I wonder what would we qualify for?

    • James

      Saxon (Morgan Stanley) is not included in the list, so I got the card in the mail and like everyone else Rust Consulting can tell me nothing buy I qualify for a payment. I was active duty in the military and came home to a house so far into foreclosure paperwork I got a realator and through a long and painful process it short sold. I got completely screwed , just like everyone else, and I just want answers at this point. When? How Much? anything. Does anybody know if there is any relevence yet for the number on the Rust Consulting card to what you are supposed to get for a payment?

      • TG

        It sounds like under the Servicemembers Civil Relief Act you may possibly qualify for the max; $125,000 plus equity, remedy any deficiency, and correction of your credit reports.
        At least thats what the OCC FRB Financial Remediation Framework states. Unless they’ve made changes to it…..

      • Cheryl Hayes

        My husband and I also got screwed by Saxon and are awaiting payment from the settlement. I spoke with someone at Rust Consulting yesterday and was informed that checks would be going out to Saxon customers in early May. According to the information I have read because you were on active duty in the military and they scewed you out of your home you should be getting around $125,000.00. I hope this was helpful and thank you from the Hayes family for your service.

  13. Deborah

    I am so confused..I was turned down twice for a modification after losing my paperwork many times…when i got one payment behind Wells Fargo wouldn’t except any payments from me..they said i had to make two payments or none..I told them i didn’t think that was legal but they refused my payment…what catorgoy would that put me in and then my home was put in short sale..any help in my confusion would be grrst thank you

  14. Keith

    Modifications they don’t exist it’s an Urban Myth!

    The American People should be screaming!

    Seven years after being illegally evicted from our home, a Chapter 7 discharge and Bank of America is still screwing us … the only way we could end the process is to accept the banks strong armed tactics of a short sale; despite the federal court saying we were able to walk away “we were not” a great example of to big to prosecute if you or I defied a federal court order do you thing we would be given this much rope without a noose at the end of it?

    The lies and the robo signing started almost immediately 3 foreclosures that never happened (according to 2 banks) but we have the lawyers letters they must be an aberration.

    So to get our name off the deed we agree to the short sale with Bank of America in writing assuring us $5000 for our trouble that’s about 10% of money we couldn’t afford just following this elephant with a dust pan.

    Then the finale Bank of America after we get a cash offer for $1000 more than they wanted says “oh we made a mistake” you don’t qualify for the $5000 that we never promised (we have a letter and our lawyer has the same letter) you are going to get $800 to cover your troubles the result; even the buyers who are wonderful people are appalled and have covered closing and deficiencies that all of a sudden came to light; so do yor think that the bank would grant the $5000 no they will agree to $2500 found money yes but it’s like shaking someones hand and spitting in their face.

    Then we get the Rust Consulting mailer my husband risked his life for others never asking for a thing he now walks with a walker with wheels and eventually a chair, and still asking for nothing, but what we deserve after 7 years of lies, an illegal eviction, 3 phantom foreclosures and eventually bankruptcy there is more but I really do not want to bore everyone as they have probably experienced much the same.

    The settlement decided for us … well we know what we deserve in actual damages (nothing extra) and what will we get $0-$250; the veterans that were targeted for the $125k I hope everyone of them get it and more and the rest of us just smile and bend over.

    As an addendum in today’s mail we received a letter from Bank of America offering mortgage assistance … does the right hand know what the left hand is doing there?
    Bank of **** it should not be America they are the antithesis of America more like the movie from the 80’s and 90’s when “greed is good” was the tagline; that’s it Bank of Greed much better!

    And where are they getting all this money can we all say bail out … yes we are getting our own money back with no interest or penalty.

  15. david albertsen

    How do they judge on what we will receive? They made a modification but not a lower payment and added our 3 months behind and a couple of thousand for legal bills…To get caught up it cost us about $9000. We r still paying it.

  16. NixMac

    Your numbers don’t add up the way you have them SB/Dave. Your numbers add up to 3,699,500. However, if you change your category 1 to the cap of $125,000 instead of $150,000 then it comes out to $3,674,500 which is closer to the actual outlay of $3,549,500. Still short $125,000 somewhere. Are headcounts rounded perhaps?

    As I understand it from reading articles, not only will people who applied get payout but those who fall into these categories even if they didn’t apply. Doesn’t seem fair somehow when those of us filled out all the paperwork and provided clear details.

    • beautygirl85

      @NixMac…. whoooo you just made me more pissed then a 2year old baby boys diaper. It seems very fair to me in deed. Why, you ask? Well, my husband and I owned our former condo from 2005 to 2009 when we were forced to file for bankruptcy due to a threatning foreclosure notice and severe bullying from BOA. We tried to sale but the economy dropped so severely we owed more than its worth and were informed a short sale would not be in our best interest. We tried to contact BoA and beg them not to take our home because we had 2 little girls 1yrs and 3yrs old. Noone replied. Then we were mailed a letter of an approximate time frame to be foreclosed on….

    • Terri

      NixMac you are incorrect, there were alot of us through Litton/Goldman Sachs that are in the payout, but were NOT OFFERED the applications, they knew they were in the wrong and didn’t want to draw attention to themselves. I still deserve my payout application or not, I was equally lied to and cheated and then not told of the application!

  17. Karen

    Our lender was BAC, and we were foreclosed on, and of course it was an ordeal!! But my concern is this, I live in a recourse state and of course our credit has been damaged, but I have yet to hear anything positive about the review and how it is going to help me own a home again, I have exhausted research on the subject. I have been hearing about all this money being paid out for the settlement, but that isnt my only concern. We want to own again, can someone shed some light on the settlement, not only about the monetary version. Thanks

  18. Sherann

    BOA threatened foreclosure so we tried for a modification for over 6 months, mailing the sme forms in about 7 times. We have a disabled son and I didn’t like his personal info floating around. When I asked where my docs were they could not tell me. I finally filed a complaint with my Representative and lo and behold my “modification” came through one week later, but now we have a 40 yr loan not a 30!

  19. You will receive a check for 125,000 if you had a wrongful foreclose. The first checks have been sent out. The second batch of checks go out no later than June 2013. My case is closed and settled.

    • Michelle


      When you say that your case is closed and settled, does that mean that you’ve received your check? No one at Rust Consulting will confirm whether or not any checks have been sent, so it would be nice to know otherwise. Thanks.

  20. Deborah

    I have searched all over the net…I can’t find anything on what I might get… besides the range that is posted everywhere ( few hundred to 125.000 ). I was foreclosed on after wells Fargo refused my payments…would you call that who.ful foreclosed ? I also was turned down twice for a modification…they said i didn’t make e.ought money …i thought that was the reason for a modification. I feel Wells Fargo forced me into a foreclosed when they refused payments…I was 1 payment behind…just 1…

    • Virginia

      I also had a Wells Fargo loan and was never told whether I would get loan modificiation or not, I received my check for $500 (very disappointed). The reason was the modificiation was agreed to but we never got anything saying we were under a modification and our payments stayed the same. Could not afford payments so we moved from house. I have called and ask to see my modification papers and they will not release (very convenient). I hope the rest of you do better than we did.

      • Steve

        Wells Fargo is the master of playing the stacked deck. When my spouse lost her job, we knew we were going to have difficulty with the mortgage. I called to set up a modification, and because we were up to date with payments (as in not behind 1 cent), we were told there were no programs available and that we had to be behind at least 2 months. Side note: It was a recorded conversation. Well, eventually, we fell behind. I called and was told by Wells Fargo that we qualified for modification, that during the process our loan was being put on hold and they could not take payment (because we were active in the modification process), and pending all of our official paperwork would be approved for a new rate, etc. Well…typical of others…paperwork was lost and resubmitted multiple times. We were then told we’d get a response in 7 to 10 business days. Well, when that time passed and hadn’t heard anything, I started calling the point of contact for our modification. Voicemail after voicemail…no response. After 3 months of calling and leaving messages, I got a letter saying my loan specialist was being changed. Upon calling that person, I was yet again leaving voicemails. After confirming my paperwork had all been received and sent to underwriting in September, those first 3 months passed with no call back. Another 2 months passed before I got a call back from this second specialist. We were told we were denied because underwriting failed to receive requested documents. When I explained the date I was told they had everything and never received any communication for additional documents, i was given a bumbling answer filled with sorries and told she’d be happy to restart the process. This happened two more times and eventually involved being switched randomly 3 more times (5 specialists in all) to handle one modification that I was ultimately denied 3 times. The kicker was that once I was taken out of active modification, not only did the mortgage payments begin again but now WF wanted the entire back amount payable in full and would NOT take a partial payment. I had to declare ch. 13, and even after it was started in court, WF attempted twice to foreclose on the home–refusing to take payments by mail and over the phone. Needless to say, not only did I have have a back amount tied into the ch. 13, but when they refused to take payments (evening mailing back my checks stamped WF), I eventually had my mortgage payment plus a back amount paid every 2nd week in order to avoid WF taking a 3rd attempt at foreclosure. We sold our vehicles and got one A to B beater. After I lost my job due to a medical condition, I attempted modification again. Again, we went through the run-around on documents. That last was so pathetic it was funny. Underwriting wanted a quit claim deed. Their first attempt to have me sign something, I showed to my attorney and he said don’t sign it because they’re asking you to sign over the house to them. At that point, there’d be no point to modify anything because WF would control the house and could sell at will. When my attorney called them, they gave some baffling answer and hung up. They finally asked for a quit claim deed showing me on the title (as by this point…my wife and I had divorced due to the financial distress that had happened; she moved back to her parents and I stayed to deal with the mess). Per the divorce, I got the house and court papers were filed removing her from the title–which accurately reflects me as the sole person on the title. In Iowa, you can submit that paperwork along with the title as it works the same as the quit claim deed. WF refused that and wanted the quit claim deed. The county officer, my attorney, and even the WF attorney that originally was trying to foreclose on me spoke with WF customer service and directed them that legally, the document being submitted would be valid, and that underwriting had all the necessary documents to process my modification. Underwriting refused, and I was denied modification. In order to avoid falling behind, the WF attorney was kind enough to take payments so the same thing wouldn’t happen again and we remain current, though financially, we’re bleeding out and without a change in income (currently on a medical unemployment), by mid june, we will have no income and unable to reapply until September. Sadly, had the modification gone through originally as planned, even in my current situation, we would have had the funds to cover bills and the mortgage well beyond September–assuming no job or resolution to my medical issue. Needless to say, that money went to various lawyers to fight off attacks from WF. As some ignorant people have posted on here that people just got in over their heads, that isn’t always the situation. WF has done things willfully to manipulate the situation so that they always come out on top–as have other banks I’m sure–no matter what you do to try and save your home. Selling it isn’t easy either. Our rural area is depressed and the home values have dropped. Not to mention, where is one to move w/ a small income and four kids?

  21. Michelle

    Like so many, I’ve spent hours perusing the internet for any specifics regarding payments, and again like so many, keep coming up short. One interesting thing I did read: Apparently, the postcards that went out listed your category number. Unfortunately, I cannot verify this personally since my card never found its way to me. Can anyone take another look at their letter/postcard and confirm this?

    • The only thing the card had on it was: A code for the bank that had stuck it to you-Like B for bank of america , C for citi and so on. The other code on the card was the number that was on the documents the bank had such as a Modification request or foreclosure. I believe as on blogger said the purpose of the post card was to see if the presorted cards (which will not be forwarded by the post office) were sent back to Rust Consulting, which would let Rust know the homeowner they were trying to reach were not at that address.

  22. Tracie

    Could not find catagory number on postcard. Got 2 months behind sent total payment and they refused it but I got into trial period for mod. Gave me run around and lost paperwork for a year. Said I made too much then not enough blah blah blah! I was finally approved a week before sheriffs sale but it was a really bad deal and I had already made plans to move out as I did not want my family thrown out literally so they foreclosed. Not sure what catagory this would be?

  23. Deborah

    I just looked at my card too…I don’t see any catargory number..
    I didn’t think payments could be refused unless you were over three months behind..
    but we all know they weren’t saying by the rules .I lived out of my car for 2 1/2 yrs. after my forecloser ..I just got into a small place this last year..

  24. shana

    My loans were initially w wacovia during the merger w Wells Fargo my loans were lost in the system and neither company could find my loans in their system. To cover all angles I contiunued to send my hardship docs and requests for short sale or loan mod to both companies in hopes I would get through to someone. Every time I got assigned a rep they went right back to stating my info and loan was not in their system and yet they managed to foreclose and sell for 400k ess than I paid and refused me a loan mod as well as not accepting my short sale request. What category would that fall under??? I got my postcards but I don’t see anywhere where there is a category number??

    • shalan

      opps didnt see reply button.

      after reviewing the frame work table, if lost occurred during a mod, you could receive anywhere from $60-125k plus equity. Nothing can equal pains, suffering and troubles, but you may pursue suit with an attorney. The postcard and check is defiantly enough evidence of wrongdoing.:)

  25. shalan

    i received my postcard a couple of weeks ago, but it defiantly does not include the category number nor amount. If you contact Rust Consulting, they will only read a script and recommend that you continue to check the mail. However, It does state that payment or request for additional information will be sent within 4-8 weeks. I also reviewed the frame work and all payments were for $500 OR more. If you have not received notification from Rust, i urge you to contact them at 888-952-9105 to verify your mailing information. They will only contact you via mail.

    I also read that receipt of payment does not negate the fact that each individual may try to sue for additional compensation. Receipt of payment is total evidence of wrongdoing by the lender.

    Patiently waiting/Faithfully waiting…

  26. shalan

    after reviewing the frame work table, if lost occurred during a mod, you could receive anywhere from $60-125k plus equity. Nothing can equal pains, suffering and troubles, but you may pursue suit with an attorney. The postcard and check is defiantly enough evidence of wrongdoing.:)

    • shana

      I was initially trying for loan mod and got nowhere so then I tried to get an approval for short sale and still got nowhere. I am not sure what status I they had me as when they foreclosed as neither company wanted to accept that my loan was with them. Even more frustrating was that Wacovia had to have my info since my loan was initially with them but as soon as the merger w Wells Fargo started they just pled the 5th and Wells Fargo kept saying the system was not updated yet so my info was not in their system so they couldn’t help me. Yet they managed to foreclose on my home!!! All of this went on for about 2yrs before they foreclosed and I gave up on wasting my time, energy and savings!!!

  27. Rush

    As I sat reading the wrong doing of the big banks, a BOM commercial tear jerker was the funniest thing I’ve seen this year. No!!!! the banks only want to make more money.

    What happen to customer service?

  28. Tracie

    So right Dave that no one knows! I am not counting on anything but I hope I get more than 250$ after all the stress they put my family through during mod. And then to lose our house! When checks do go out or anyone knows more then please let us know!

  29. Michelle

    FINALLY, an update from the OCC website dated today, April 9th. I check that page so regularly it should be my home page! Anyway, the first wave of checks is going out this Friday, April 12th! 90% of them expected to be out by the end of the month, with the remainder sent out my mid-July. The new minimum is now $300, but I didn’t see a link for an updated framework. Too busy scanning for payment info. Here’s to hoping all of us here are a part of the first wave and that the checks are BIG.

    • James

      Except Goldman Sachs and Morgan Stanley (Saxon) I was told since I had Saxon they had no idea when my payment would go out. HOW IS IT that we CANNOT be told what category we are?? This is OBSURD!! All this means is after being screwed we can be screwed again because we do not know or can help to be put in the proper category. I was in the military and came back to piles of ridiculous foreclosure paperwork so i rushed to get a lawyer and it took almost 2 years to do a short sell because Saxon would accept anything. I know I’m not the only one that has had to scrap it all and move on, I hope the best for all of you, I just don’t understand how we can be kept in the dark and just to be screwed again.

  30. Cici

    I too Had a nightmare with Wells Fargo. I finally after 3 loan mods failed due to Wells Fargo not accepting Pmt or losing Paperwork short saled my home. This also took 3 offers for them to accept the lowest one (DUMB).
    It was hell however the reason my home was in peril was initialy because I got behind in my payments. Not any other reason. I got behind because of personal reasons and the economy and It cost me my home. People need to take some responsibility for losing their homes. Im not saying all the responsibility but some.
    I have seen alot of people expecting alot of money. If you look at the payment structure. Most are getting between 300-1000. Be ready to only recieve that amount. Looks like unless your home was taken (and you were not behind in pmts ) or you were in the service there is only small amounts being offered.
    I have seen alot of people already counting on 50-125K and already planning on how to spend it. You can’t appeal the amount you receive you get what you get then its over so dont set yourself up for disappointment. You can however sue them on your own but my guess is unless its a class action suit you would need a Large sum of money to pay the retainer of an attorney because Im sure no attorney will do it without a retainer.
    Even though that was a very hard time in my life I am going to take a deep breath and be thankful for anything I recieve because life is to short to remain so angry over material items…

  31. candy

    Someone a few comments back spoke about your code on postcard. I just looked at mine and on the front to the left of my name and address is a “letter”. Could this be the category? Clearly it is just sitting there for no other reason. If anyone else has there postcards check and see if you have a letter on yours. Also, what is going on with Goldman Sachs? Are they included in the #’s that are posted, if so what is there holdup?

    • candy

      Oh yes I see that now, mine was G Goldman Sachs G :( there was hope. I do not know what category I fall in. We sold at last minute short sale. I even hired attorney to help with modification, $5,000 more in the hole. Even attorney office got same run around as we did. The attorney also scammed us, when we went to do short sale they refused to help or return money I paid. They had a guarantee if they could not modify you get your money back. They stopped returning calls and closed up shop. The bank could never find my mortgage, it was sold right before we did short sale. I see a lot of people here that did short sale, does anyone know what category that will fall in?

  32. dmac

    i’m suing JP Morgan chase Pro-se, in federal court..for RICo violation, and Fraud…you dont need a lawyer to sue these Banksters..lawyers are gatekeepers for the Banksters..

  33. Blitzkrieg

    I tried that dmac and every thing I asked the courts for was denied and whatever they asked of the courts was granted . Long story short i was railroaded. Come again sir have a nice day . Next!

  34. Blitzkrieg

    I was granted a temporary restraining order and paliminary injunction by my local district court . Fraudsters filed to have the case transferred to federal Court . The transfer was granted and 20 days after case was transferred ,my home was sold at auction where fanny mae illegally became the new proud owner. I was now being sued and fighting a temporary writ of restitution and unlawful detainer where I filed all the proper defense paper work to the courts. I then was locked out 3 times by a realtor and sheriff,all the time explaining to them I was In litigation where I was granted a temporary restraining order and paliminary injunction and showed them the court documents but was treated like a dirt, and on the third time i was locked out of my home was robed looted and ransacked for $37,000 worth of my personal belongings.Come again sir have a nice day !

  35. Dmac

    you can take advantage of a pro-se forum, at least i did. the reason people lose there case is because they don’t have a proper plan of attack. if you cant prove that the bankster didnt loan you funds, and have proof of the loan being paid off, then you cant win..i was blessed with the attributes, and connections to track my loan, and show that it was funded by “we the people” the taxpayer by way of Federal Reserve Bank, fiscal agent for the US Treasury.
    a Bloomberg report showed that my loan number was paid off..the new account number that the Banksters come up with has no nexus to the borrower. I also learned that i was a third party beneficiary to the investment Contract that i signed at closing thinking it was a negotiable instrument, which was converted into a stock,which changes its character forever. people always challenge the Note…when you should challenge the Security instrument. It wasnt that you was railroaded, you just failed to state a claim upon, which releif can be granted. learn the rules of civil procedure and rules of evidence. it’s been six years, and the Banksters attorneys can’t win, so the lawyers and judges are playing a stalling game. once i get my check from rust, it will be used as evidence..i dont care if its for 50 cents.

  36. Blitzkrieg

    Nice job dmac . I did manage to get my unlawful detainer case transferred out of civil Court to District court do to the complex issues of this case and the limited jurisdiction of the civil court . But haven’t heard anything back ???????? I’m just exhausted and loosing steam .Dont know what to do next.

  37. Dmac

    @Blitzkrieg…theres plenty you can do…doesnt matter if the Banksters sold your home or not.
    the first thing i would do is secure the land. by acknowledging your warranty Deed. and recording it in your land records in your county. this is how i kept chase from selling my home,The Banksters recorded your warranty Deed without your acknowledgement.this was done by design, so they could sell it to the next victim, in case you default. but if you acknowledge the Deed, now there is consideration,,,and the land is yours forever, and you just clouded the title. they can’t sell the house if you own the Land. read your warranty deed very carefully…its all there.

    • billa

      You are exactly right Dmac! acknowledge your warranty deed at your county clerks office
      before the banks do. I know this same info. Also its illegal for banks to even lend money.
      You can google the National Banking Act. The whole transaction is fraud.. Your loan is paid once you sign your name on the promisary note.

    • Blitzkrieg

      Well I looked up the person who is living in my home now at the county recorders office and went over the deed of trust .The new fraudsters put in a bunch of crap basically saying that the new owners are fully responsible for any title issues that may pop up in the future. They are passing the buck to the new home owner. What a joke more fraud . Now it’s ex homeowner VS new homeowner. Will there ever be justice???

  38. dmac

    Class actions are worthless against Chase. the only way to win against Chase is without an attorney. if you have a lawyer, you got a idiot for a attorney. there gatekeepers for the banksters. your funds cant touch theres, Banksters control all attorneys, by way of the BAR association, which is a foreign entity.
    people should be more excited about evidence there about to receive, than the amount. because the amount isnt going to be much for most of us, i filled out my review form for the meat and potatoes in my Case. i wont be cashing my Check, I don’t want there money, i just want more proof that they committed a crime, and violated my rights as one of the people .
    once you cash your Check….”gotcha” they say you don’t waive any rights to sue or it wont effect any actions you may have pending, I don’t beleive that. you have to read between the lines people. they say YOU dont waive any rights, didnt say anything about the Banksters waiving or immune from prosecution if you take payment. the reason you havent seen that lanquage is because its in the agreement between the OCC and the Banksters. and we will never see that, unless you file under FOIA. freedom of information act. i’m not falling for the banana in the tail pipe.

  39. candy

    The table of payouts excludes Goldman Sachs. Why is this, does anyone know? I spoke to a rep, who of course has no idea. He did say Goldman Sachs has not calculated payments yet and expect to do so by July. So anyone else with Goldman Sachs or Morgan Stanley have any information?

    from OCC web site:
    Independent Foreclosure Review Payment Agreement Details
    The table below provides number of eligible borrowers and payment amounts in each category for borrowers covered by
    the Independent Foreclosure Review Payment Agreement. The agreement was announced in January 2013 between
    federal banking regulators — the Office of the Comptroller of the Currency and the Board of Governors of the Federal
    Reserve System — and 11 mortgage servicers. More information about these agreements is available from the regulators’
    Web sites — and The table contains only standard payout amounts; it does not
    include amounts for lost equity, which borrowers in the first and third categories may receive in addition to the standard
    payout amounts, or the payments calculated on a case-by-case basis in the second category. This table excludes
    borrowers whose mortgages were serviced by Goldman Sachs and Morgan Stanley.

  40. thereesa

    Morgan Stanley and Goldman Sachs were probably left out because they were not part of the original agreement and none of the people who had a mortgage through them were allowed to file paperwork. It wouldn’t be fair to us to get the lower amount when they weren’t accepting our complaints.

  41. James

    My card has an O , and i had Morgan Stanley (Saxon). I think this whole thing is a prime example of how good people can be tricked, stolen from, and left in the dark , maybe even left face down in a ditch. Is there any correlation that anyone knows of with the 10 digit number and your category? Maybe the first number? If you have facebook, I HIGHLY recommend you search , Affiliated Credit Consultants . Like the page, I just found it and it looks like a good place to talk about all this.

  42. theresa

    The letter on my post card was a P for PNC so I think it’s safe to say that much is probably correct. I called Rust Consulting Inc and they had me read them the tiny numbers under the barcode on the front of the postcard. Now I’m wondering if that’s the category number? If the amount is in that code(I believe they would be smug enough to post it in plain site) I have the sinking feeling I’m getting 600.00 that’s the only dollar amount I could possibly make of it.

    • James

      ^^^ theresa
      I think the ten digit number on the card, maybe the first number is the category, but I’m just guessing, I have no idea. I wish we weren’t all in the dark.

  43. theresa

    So typical of them to keep us in the dark. A lady on another website posted a comment saying when she called Rust Consulting Inc last Friday,the woman she spoke to said the OCC is supposed to post a list of the numbered categories so we know how much we are supposed to be getting. I looked all over the OCC site today and couldn’t find a thing.Maybe true to forum they will post this list after we have all gotten our measly amounts.

    • James

      ^^^ theresa
      I think we are all guessing and speculating. I think , unfortunatly we are pretty close with our guess with , “measly amounts” . The only list I have seen is one that gives categories and amounts, but no way to tell what category you are in yourself. And I had Saxon (Morgan Stanley), Rust Consulting told me today, I wouldnt receive a payment in the first wave, more likely in July. This is all so ridiculous I wish we all had the means to get together in person, walk in to every bank that did this crap to us, and walk out with every penny that we actually deserve. Unfortunatly thats just a dream of ours, I wish us all luck, and hopefully if anyone figures anything out they will let us know, because we can’t get answers from anyone that actually knows,

  44. theresa

    Do the tiny numbers under the barcode on the front of the postcard make up any monetary denomination that’s plausible to anyone else? When I get my check I will let you guys know if no list of number categories has been posted by the OCC by then.

  45. Michele

    I called Rust, they do not have any specifics. My main question to them was what is the Remediation Date. That is the key to determining what category you will fall under. If the Remediation Date is the date of the settlement (January 2013), then all you need to do is read down the different categories and you should know at what step you were in. If you filed a claim for review your payment is double what those that did not file for review. In 2009 I made my 3 trial payments, and Wells never finalized it, my home was in foreclosure in October of 2010, and foreclosure was complete in November 2012. Based on all of that information I should be getting 50,000. If the Remediation Date was before foreclosure was complete then it would be 6,000. Without knowing the actual date there is no way do determine anything. So basically, we need to “trust” that the government in overseeing all of this will be honest and truthful…hahaha.

    • Pete C

      This is a key point… based on their own document we should be receiving at least $62,500 because we filed for bankruptcy protection. 763 families qualify for this payment, which would be great because I see 763 home sales occurring… but I’m betting on a $500 check…

  46. dmac

    Your welcome Gee…it just saddens my heart when i go to these blogs, and to see that the people are falling for the trickery of the Banksters, one blogger wrote that she will be getting between 50,000 and 125,000….for the love of god people…wake up…the bank regulators (OCC) is controlled by the Banksters…The Banksters got together with the OCC to conduct the investigation to begin with.a mass of people are waking up, and the Banksters are loosing in court against pro-se homeowners like myself. and were kicking there ass.
    they came up with this scheme, to appear as though they got caught with there hands in the cookie jar. so there making a mass settlement offer, when you cash your check, you accepted there offer. the constitution wont allow them to be liable twice, its called double jeopordy. yes you got a right to sue them, but not for the crimes the OCC wont allow you to see. when the senator asked that scum bucket if the families would be allowed to sue the banksters, he said yes. what he didn’t say is that they cant sue for the same allegations that the OCC has, and thats the reason the scum buckets wont release that information to us. unless you file a FOIA, in which i did already.

    • James

      I had Saxon, long crappy story, I was getting foreclosure paperwork left and right when i got out of the military in early 2011. So I hurried and got a realator and did a short sale. Lost alot of money, destroyed my credit, blah blah. Anyway im sure i will get a measly 300 or so, but i was told the checks for Morgan Stanley (Saxon) loans would not like go out until July. So how can we SUE THE CRAP out of these big banks? i know very little, so I’m asking, Why can’t we have a giant class action lawsuit to actually get repairation for the hell we have and still are going through? What do I do if I want to say to hell with this check regardless of how much it is and sue them?

  47. Paige

    I too am a victim of BOA bullcrap! I literally sent in a whole tree of paperwork over TWO years time … No reply.. Trial mod. Found out day before 1st payment due. Western unioned it in and because it wasn’t posted the 1st day of the month (even though I did exactly as they told me ) we couldn’t get any other form of help! Ended up having to short sale. Oh they did tell me I could catch up on payments over a 12 month period and pay my ARM payment to the tune of $3900.00 a month. God forbid we eat, buy gas to Go to work… Just to pay b of a. Short sale that house. Got that monkey off my back. Can’t wait to get my check.. My luck with the whole situation , probably be a slap in the face just like they’ve done to 4.5 million people. But there is a place for all these people, and heaven isn’t it!!! Good luck Americans ! Hope we can use our $300 as a down payment on our in 30 years after our credit gets better!

  48. Debbie

    I filled out the paperwork requested for this review. I’m sure I’ll just get the $500. It’s a bunch of bs. My servicer was chase and when I knew my place of employment was closing, I contacted them to see what I could do to keep my house. I’m single and live alone so there was no other income. I was told to write a letter explaining the situation. I did. I heard nothing. I called and was told I had to be 3 months behind in payments for them to help me. I asked them to help me NOW because being 3 months behind I would never catch up. They said sorry! So, I paid what I could. My unemployment was laughable and I had to keep paying my car payment so I could have something to look for a job with and I kept my Internet on to look for jobs online and paid utilities. Finally, I was 3 months behind in my mortgage but never heard a word from chase. I called again and was told sorry again. I didn’t fit into any of their categories that they had to help. No mod, no forbearance. Nothing! I had to move out. Left most of my stuff there. Filed bankruptcy. Credit ruined. I used my pension and what little was left in my 401k. I have to work now until I die. I’m 53 and I have nothing left. I know a lot of people were worse off. I feel for everyone here. I thought buying my own home just a few short years after my divorce was a huge accomplishment. Now everything is just gone. I wonder if the even reviewed my case. I doubt it.

    • Hats

      Your situation reads almost identical to mine including the bank involved. I just received a check under the category of foreclosing while owner was under bankruptcy protection. I hope you qualify as well. Good luck.

  49. Kim Bernardini

    Has anyone received your payments yet? I have reviewed the table of reimbursment and am not sure what catagory we fit in. From what i can tell we should get back $15k, but i am not holding my breath….

  50. Nancy Brown

    I contacted Senator Elizabeth Warren’s office and gave her a link to a forum where people are reporting that they received their payments and are also reporting that when they presented the check to the bank yesterday they were told there were insufficient funds in the Rust Consulting account to pay the checks. UNBELIEVABLE!! Here is the link forum:

  51. Renee

    Lost my job Jan 2009, continued to make my house payments until I couldn’t any longer. Last payment was Nov 2009. Listed my house for shortsale Dec 2009. I never asked for a modification and I was never contacted nor offered one. A buyer’s offer was accepted on my house Feb 2010, recorded the sale June 2010. I never returned any paperwork or requested a review. Check arrived yesterday: $300. Was not anticipating any more than that. I assume I fall under the category of the lender not offering me a modification.

  52. Cathy

    I can’t believe what dirtbags are running our country,that they are allowing this to happen.You know what makes me sick, they came to us with this settlement we didnt go to them. My family has already been through enough.Dang they got our house. I have one thing to say yo thto these IDIOTS. Judgement day is coming and they have to answer to our maker. I hope they rot in Hell.

  53. Gee

    What a joke!!! Received my whopping $300 check in the mail yesterday. Haven’t attempted to cash it yet. If I’m told there are “insufficient funds” when I attempt to cash it, I may just lose it!!!

  54. Kim Bernardini

    I got my big $600.00 check!! I called Rust and was told that OCC has copies of the review results, then called OCC, was told Rust had them…. Does anyone know how i can get a copy of the review and the findings??

    • Steve

      I don’t think anyone knows anything. I called the OCC to find out what categories we were in. The OCC told me to contact Wells Fargo because the service providers were required to identify the categories,etc. so that Rust could make payments. I called Wells Fargo and said that they had no information and that I needed to contact the foreclosure attorney that handled our case. WF gave me that number and when I called them, I was told they only had information saying my account was on hold because of the stay and current ch. 13 bankruptcy. Moreover, the attorney said that WF would have the information. Given that took a few hours, I’m waiting till later to call WF again. Needless to say, no one seems to have a clue and from what I’ve gathered, the people getting 300-600 doesn’t even begin to compensate how their lives have been upended by those making 25 million in bonuses….

  55. TA

    I got a $300 check in the mail a week ago. When i sent the paper work in
    months ago i explain my wife n I were divorced I had know idea where
    she was at. The darn thing is its in both of are names and is usless for me
    no bank will cash it

  56. cassie

    I can’t believe that the checks aren’t going to be but for 300 bucks that sucks when most of us lost everything not only my house but the land that had been in my family for more thank 40 years 300 bucks won’t fix that hole in my heart

  57. Melissa Dunkle

    So, I got my check but now comes a lot of confustion: My husband and I are divorced. Divorce final in Nov 2011. Foreeclosures proceedings started on our home in Sept 2010. He filed bankruptcy to include the mortgatee in October 10. His bankruptcy was discharged in January 2011. Foreclosure was final in April/May 2011. Main question is , is he entitled to half of the check??

    • Cindy

      Who was awared the home in the divorce? was you check due to a backruptcy? how much was it for? I’m in the same boat. The home was awared to me and I was directed by the courts to get his name off it. He hadn’t paid a dime in 2009-2010 when this all went down. So my lawyer said it all mine due I was awared the home.

  58. Someone

    Just a note to the person who said you shouldn’t have gotten into a mortgage you couldn’t afford. Please tell me, Mr. Commenter, do you have 18+ months of house payments stashed away in your savings account just waiting for that rainy day? What happened if you lost your job tomorrow? How long could you live off of your savings?

    I put down 20% on my house. Paid my mortgage on time. And when I saw my income crumble, I immediately put up my house for sale, knowing that I wouldn’t be able to stay in it for more than about a year without a new job. Then, the housing market crashed in my area. Big time. I reduced the price to the lowest possible price so that I could at least break even. Still not low enough.

    What to do then, Mr. Commenter? Are you saying that I didn’t do the right thing? If it had been a normal market, I would’ve been able to sell my house. But it was a crazy market. Like none we have seen since the 1930s. Am I to blame for that? I *was* able to afford my house until I lost my job and my income. Would you be able to do the same? For how long?

    Meanwhile, I spent all of my retirement (which wasn’t much since I was still relatively young) to stay in that house as long as I possibly could AND pay all of my bills and keep my health insurance for me and my children.

    When you have been there. REALLY been there, get back to me. Otherwise, shut up. You have no right to blame the victims here. The banks had an opportunity to adjust mortgages and help people stay in their homes longer, but they didn’t. Instead they foreclosed early, lied about modifications, and ruined people’s lives.

    • Bravo!!!!

      10 years in my home that I purchased with 25% down, paid more than minimum payment every month for 10 years; $260,000+ equity in home under 2009 updated appraisal rules; told company to restate their financials to SEC (was fired within 5 weeks); asked for help from bank (they upp’d my mortgage by $1300/month – yes, you read that right); had house on market; for $25,000 than appraised and market value to get equity out of it; told by Bank they’d refi my mortgage because of all the equity in it; they sent me a letter stating they’d done so and payment was due Jan 1; at Bank to pay mortgage on Jan 4 (the first business day of that year); was told that Bank has “accidentally foreclosed on my mortgage in Sept” of prior year and that “this was just a case of one-hand not talking to the other” – that was direct quote from Bank.

      Total lost from equity in home I bought LONG before the mortgage fiasco of ARMs and 100% mortgages?


      Ironically? Bank who illegally stole my home, asked me to come help them with the Independent Foreclosure Review Board to analyze who should get what.

      Yes, really. I said no and claimed lack of independence.

      So, that aside, I did some fuzzy math trying to calculate the Press Release data

      First, divide the data up into 4 waves. Building table from bottom up, the first wave would include all the lower amounts from Borrowers who had requested review, and 1/2 of the borrowers who did not. That amount = roughly 1.4 million borrowers

      2nd, take the second wave and add in the 1/2 have of borrowers who did not request a review and all of the borrowers who did, plus 1/2 of the new set of borrowers who did not request a review and that amount plus ALL of the largest amounts and the $62,500 folks and that = roughly 1.4 million borrowers

      Those two waves then = rough the right amount of borrowers plus the right amount of funds so far dispersed.

      The last wave then = roughly last borrowers and all those amounts?

      Largest checks yet to be dispersed EXCEPT for the $300 checks would seemingly have been dispersed during wave 2.

      Excel sheet is on my blog :)

  59. george

    Hello i recieved 6000 in the forecloser review settlement, but i am on unemployment in m ichigan. Do i need to tell unemployment about this settlement? Its not income and the settlement had nothing to do w/ work related issues, so i am assuming that i do not need to tel them, but am looking for a difinitive answer and i am having trouble finding one…thx!!

    • Steve

      I was told no, but I live in Iowa. Since it is not income for a new job, severance or holiday pay from a job you lost, etc. it wouldn’t fall under the questions…but I am no attorney.

  60. Monica Gentry

    I just received a $1000.00 check today in the mail and thought it was a scam. I went searching for answers when I found this website. Is this true…. is it safe to cash this check? We had to short sell our home back in 2010 due to a job transfer (Wells Fargo was our lender). I was in the dark about any class action lawsuit.
    Thank you!

  61. george

    monica, someone in your home filed out the paperwork bc if you didnt you wouldnt of been in the settlement, someone would of filed it out a couple years ago, its real if it says forecloser review on it

    • Monica Gentry

      Thank you for the quick reply.
      The check says “Fund 1 Independent Foreclosure Review Payment”
      Loan Servicer: Wells Fargo

      Hmmm? I’m stumped, I don’t recall ever filling anything out. Nor does my husband.


      • Steve

        There are two classes: those who specifically requested the review and those who did not but were found to have been wronged. Where as those who requested might qualify for 7500…those who didn’t were to get 3500, which goes along with what Melissa is saying.

  62. Emmers

    We too had Saxon as a mortgage company. What a nightmare. Our original mortgage got sold out to them, and they took us for A ride!!!!!! My wife got very ill, always keeping in constant contact with them, we told them of everything going on in our life, plus more. We were ALWAYS willing to do what we could.. We even tried making half payments just to “stay afloat” NOPE.. they wouldn’t accept those.. Here is where the problem came in….
    We got far enough behind with my wife’s disability. They started forclosure, they had us FAXING the same paper work every month for a YEAR.. and I am sure some of you know exactly what I am talking about,.. this seemed to be their way of “”dragging their feet”” them and their “”ohh.. we didn’t receive this,, or that…”” RE Fax RE FAX RE FAX … unreal… so, after months of refaxing the same papers, we finally hit a re-mod phase… but first, I had to get our state Senator involved. That was a God send. The Senator’s office looked thoughorly into our case and seen we were not given a re-mod .. so, a RE-MOD is what we were now offered…. HA! , what a joke this re-mod was… My Wife and I done everything we could.. and they screwed us over.. we needed THREE PAYMENTS made and WALLA… we would get our “”fresh start”” …….
    Yea.. right…….
    After payment number TWO, Saxon sold our loan out to someone else who refused to honor our re-mod and our hard wo

  63. lorrie

    seems a little fishy that the comptrollers last name is MORGAN…… in JP “MORGAN” without the jp……..seems pretty shady whats going on ….really.

  64. swil0521

    Is there any way to sue or appeal the settlement amount??? It seems the framework is total BS and the check amounts don’t make sense based on what took place I should have gotten 24k instead I got 800!!! It is an insult!!

    • Steve

      No appeals allowed. Accepting the money doesn’t prevent you from taking them to court; however, there seems to be some debate about whether you can take them to court on the sames grounds as the OCC because of double jeopardy, etc.

  65. sue

    i recieved a check today for 3000.00 my friend received one also but only 1000.00 i lost my home and tried for over a year to get a loan modification i dont know how the breakdown is figured but i did not submit any forms to this review however i did have a complaint in with my states attorneys office hope this helps you btw the breakdown is incorrect nowhere is there a 3000.00 payment mentioned so i have no clue how they figured it out

    • Steve

      It’s possible to be included in different categories. Plus, there are some that are determined on a case by case basis. So, depending on what was concluded to have happened to you, you could have been in 3 categories that came to a total of $3000.

  66. Kelly

    It’s very frustrating to read above comments that some did receive a fair check when I was so wrongly treated. I fought for 20 months to get a loan modification. Had worked for years in mortgage banking. I resent updated paperwork by mail and by fax bi-weekly, sometimes daily. I paid 7 months on the 3 month trial plan, always on time. I Was approved. I was sent the closing paperwork, only to find the underwriter had doubled my income and set a new payment DOUBLE of my trial payment. I returned the closing docs, with a letter explaining why they were not signed and the error made. It took 3 months of me investigating and an average of 10 hours a week on the phone asking for ID numbers/reference numbers of all I talked to, and getting them to record our conversation notes into the computer file regarding the underwriters error. I would have them read the notes back to me. The underwriter – Don Alexander, finally called me after 3 months. I was so happy he had finally called me that i put him on speaker so my family could witness the call. I was then told I was a liar, must have sent him false updated paperwork, and accused of trying to abuse the system. I was distraught. I told him I would be taking him and CITI MORTGAGE to the 6:00 news and that because I was a single mom I felt he was discriminating against me by everything thing he had said. After putting me on hold for 25 minutes he returned to tell me he had reviewed my file and discovered the error but that it was to late now to help me. No apology – nothing! Told me my file would go the bottom and I would have to apply for a traditional loan mod, hamp was no longer available. I had a nervous break down to the point 911 was called. I was then told by other departments I was not allowed to short sale my home as it was upside down by over 55% and that I had to come up with all of the back money owed. I tried. I ended up filing for bankruptcy 2 months later. They received the paperwork from my attorney. The kicker… Told me I still qualified with sufficient income for a refi and to not give up hope and that they were so sorry for all of their wrong doings. While federally protected under bankruptcy, and awaiting their yet 2nd approval on yet another loan mod, (20 months later), I was foreclosed upon without warning. House was sold for 97,000. I put 53,000.00 down and original price was $272,000. My daughter and I were out on the street In a week. The invester resold it in 15 days for $160.000. Yet I couldn’t short sale? Under the guidelines, posted on the independent foreclosure review board’s website, I was to get a minimum of 125k. I was one of the 1st people to file for this review and sent in a 3 inch thick file with dates, notes, names and times, of who I talked to who lied to me and when. I was referred to them by HUD, who also filed a case against Citi on my behalf because of the circumstances. I spent the last year praying for some vindication. Didn’t expect a huge amount just something to
    Make them pay for what they put us through. So imagine my sorrow, discust, humiliation when opening the mail last Monday to find a check for $500.00. Only $62,000 short of the minimum I was to get base on my particular situation. It was a slap in the face and I feel sorry for all the others in my situation as well as I know I can not be the only one.

    I need help. I refuse to give up. I need a lawyer. Does anyone know of an attorney who has expertise in this area? They told me I have the right to seek legal action. The woman from Consulting Agency cried when I told her my story after receiving the measly check. I don’t want pitty, or to just roll over and play dead. This allocated money is going in somebody’s pocket again, but it not all going to us. We all deserve our rightful share. To
    many of us didn’t just walk away and give up. We fought to stay in our homes and to do the right thing. We had a good moral conscience and vested our time, money and lives into a secure roof over our heads for our families and were proud if it. I watched while thousands of people in my surrounding Phoenix neighborhoods just walked because it wasn’t worth it. Well I didn’t, and they repay me with this?

  67. Our story seems to be not so similar, but at the same time similar … just wanted to share and see if anyone else had the same experience. Husband & I had loan Novastar who sold the service rights to Saxon Mortgage in 2008 we attempted to do a modification and found in the process we were being over charged and were told not to sign the mod paperwork because it was incorrect. In the process of finding out the over charge Saxon admited to no having any documented payments from all of 2007, which I HAD Proof of and provided. They ended up loosing $27,000 of payments and we faught for 2 years to stay. They foreclosed on us and still NEVER Found our missing money. Any one else had an experience with the bank loosing 1 years worth of payments. I think Novastar and Saxon didn’t share info correctly and we lost out. Hired an attorney who ended up recently leaving his firm needless to say we lost all the way around. So what attorney should I contact that can go after them for loosing my payments and foreclosing?? Any help?

  68. Francie

    We were with NovaStar promised a 30 year loan for $700.00 per month, was sold to Saxon and payment doubled. Lost job in 2009 and still unemployed in 2010. Deutche National Bank started foreclosure process. everytime went for refinance and also the HAMP program was turned down for modification. Now owned by OcWen who is always wanting me to do a refinance. My ome is now worth only 60,000 and i owe double that, and just remember I am getting only get $300.00 for them doubling on what i owe. The Ohio Attorney General Offices requested that I send all the paperwork to them to see how Saxon was treating people and that included statements for payment, foreclosure documents.

  69. Francie

    We were with NovaStar promised a 30 year loan for $700.00 per month, was sold to Saxon and payment doubled. Lost job in 2009 and still unemployed in 2010. Deutche National Bank started foreclosure process. everytime went for refinance and also the HAMP program was turned down for modification. Now owned by OcWen who is always wanting me to do a refinance. My home is now worth only 60,000 and i owe double that, and just remember I am getting only get $300.00 for them doubling on what i owe. The Ohio Attorney General Offices requested that I send all the paperwork to them to see how Saxon was treating people and that included statements for payment, foreclosure documents.

  70. Lydia Hopwood

    I received 2 checks for rental properties I had in Florida. I know that this payment is for primary residences. I never lived in these houses and never said I did. When I was sent a form to apply for this payment from Independent Foreclosure Review, I didn’t fill it out or mail it back. I have no idea why I received these payments but want to know if I can cash them ethically.

  71. Troy

    Received my check today, lender was Saxon. Check was for $3000.00. My story is like most everyone’s, Economy tanked, layed off, multiple trys at modifacations, papers lost 3 times even after sending certified mail. Even tried saving the house by cashing out my 401k. Could have kept the house if we had received a modification….oh well, Going to take the three grand and do something fun.

  72. Kenneth

    I just want everyone to know when I spoke to the O.C.C. in Feb 2013, they informed me that two settlements had been reached. One for 55 billion dollars and another for 45 billion dollars, now what in the hell happened. what the President, the O.C.C., banks and consultants, and the Treasury have committed is FRAUD, people please do not let this rest.

  73. SANDRA

    Several people I know have received a check none worth more than$500 which they received in April and May. I called them and as usual they are reading the same BS that we can go online and read ourselves! I refuse to continue to call them they are getting paid but we are not can’t wait till end of July and checks still are not mailed what will be their next move?

  74. Hello there! Quick question that’s totally off topic. Do you know
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