Deadline to Request Review Under the Independent Foreclosure Review Extended to July 31

Think that you have been the victim of some shady foreclosure process or that your bank has been less than forthcoming in dealing with a loan modification? Here’s your chance to have your case reviewed by an independent party.

We reported about the Independent Foreclosure Review several weeks ago. We recently got word that people who wish to submit their request to the Independent Foreclosure Review have until July 31, 2012 to submit their requests.

The Office of the Comptroller of the Currency (OCC) and the Board of Governors of the Federal Reserve System (Federal Reserve) announced that they have extended the deadline for submitting requests for review under the Independent Foreclosure Review.

The review stems from questionable foreclosure actions of 14 large mortgage services. The independent consultants will conduct a comprehensive review of foreclosure activity in 2009 and 2010 to identify borrowers who may have been financially injured due to errors, misrepresentations, or other deficiencies in the foreclosure process. If the review finds that financial injury occurred, the borrower may receive compensation or other remedy.

Borrowers can qualify for an Independent Foreclosure Review if they meet the following basic criteria:

•         The mortgage loan was serviced by one of the participating mortgage servicers. (see below)
•         The mortgage loan was active in the foreclosure process between January 1, 2009 and December 31, 2010.
•         The property securing the mortgage loan was the borrower’s primary residence.

Participating mortgage servicers include: America’s Servicing Company, Aurora Loan Services, BAC Home Loans Servicing, Bank of America, Beneficial, Chase, Citibank, CitiFinancial, CitiMortgage, Countrywide, EMC, Everbank/Everhome Mortgage Company, Financial Freedom, GMAC Mortgage, HFC, HSBC, IndyMac Mortgage Services, MetLife Bank, National City Mortgage, PNC Mortgage, Sovereign Bank, U.S. Bank, Wachovia Mortgage; Washington Mutual, Wells Fargo; and Wilshire Credit Corporation.

The review costs nothing so borrowers should take advantage. For more information, borrowers can call 888-952-9105, Monday through Friday, 8 a.m.-10 p.m. ET or Saturday, 8 a.m.-5 p.m. ET or visit or


1 Comment

Filed under Banks, Foreclosure, Loan Modifications, pre-foreclosure, Web Sites

One response to “Deadline to Request Review Under the Independent Foreclosure Review Extended to July 31

  1. Pingback: Borrowers Of Color Experience Worse Mortgage Outcomes According To CA Housing Counselor Survey | Resource Blog

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