Claimants in Mortgage Settlement Start Getting Payments


Updated 06.14.2013: Claimants under the National Mortgage Settlement have started to get their long-awaited checks this week, most reporting amounts of $1,484.

Nearly 1 million checks were to be mailed beginning this week,  totaling nearly $1.5 billion in compensation from five top U.S. lenders that are part of the settlement reached early last year over mishandled or wrongful foreclosure documentation that came to be known as “robo-signing.”

Statements from state attorneys general before checks were mailed on Monday put the payout amount at about $1,480.

Homeowners should be wary of scams, settlement administrators say. “Unscrupulous companies are contacting homeowners with offers of assistance for a fee to receive the settlement payment,” administrators say in a statement. You should not pay a fee to receive a payment.

Earlier this month, state attorneys general provided the following information regarding this week’s payouts:

  • Some borrowers will receive a check for less than the approximate $1,480 payment in situations where borrowers are divorced or separated and no longer live at the same address.  The full per-loan amount will be paid on these loans, but the payment will be evenly split between the borrowers.
  • A small number of borrowers who submitted a claim form but do not have a valid Social Security number on file will be delayed in receiving their payments while tax-related issues are addressed.
  • Two servicers — JPMorgan Chase and Citi — recently provided information on an additional 31,000 borrowers nationwide, and thus they could not be included in this distribution.  Later this summer, these consumers will receive a notice and will have the opportunity to submit a payment application.

The National Mortgage Settlement (NMS) is separate from the Independent Foreclosure Review, under which 4 million eligible borrowers started to receive checks in April.

Rust Consulting is the payments administrator for both the National Mortgage Settlement and the Independent Foreclosure Review.

The NMS was reached between federal/state officials and the banks — Ally/GMAC; Bank of America; Citi; JPMorgan Chase; and Wells Fargo.

The compensated borrowers lost their homes to foreclosure between January 1, 2008 and December 31, 2011.

Claim forms were mailed to eligible borrowers in late September/early October of 2012. The deadline to respond was Jan. 18 of this year.

The largest component of the NMS is mortgage modifications or partial debt forgiveness.

The NMS has provided assistance to an additional 621,000 homeowners, which has reached $50.63 billion through March 2013 in the form of mortgage modifications, short sales, second-lien or other principal forgiveness, and refinancing help.


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4,576 Responses to “Claimants in Mortgage Settlement Start Getting Payments”

  1. jenn says:

    I know someone had mentioned it but I got a w9 from the nms so those still waiting on check keep an eye out. Hope fully that means we are a step closer to getting them

  2. jenn says:

    So those still waiting for nms checks keep an eye out for a w9 I just got mine yesterday

  3. Lisa in Michigan says:

    I got mine as well…return date by August 2nd. I guess we will gt our checks by October…

  4. Frankp says:

    Hello all,

    I’m still here, and actively seeking answers, and still pushing for accountability in this mess they call the “National Mortgage Settlement”.

    Here is a copy of a letter I sent to Jason at Rust today.

    7/18/2013

    Dear Jason,

    As the 4-6 week time frame,(as stated by you) nears, for the reissue of checks that were mailed to the wrong address, I ask you where we stand at this time.

    It has been brought to my attention that those who had a delay in checks due to the required W9 form have started to receive the forms in the mail, with a “must return by” date of August 2nd.

    So please explain to me how you (Rust), are still on target for that reissue date (as stated by you)?

    There is also the issue of additional (new) claim forms that are being mailed out. So if your intentions are to use this “3rd party” for the first batch of remails, and new issue of checks, (as stated by you) how can you claim you are “still on target” for the stated 4-6 week time frame?

    There is also the issue of disbursement of interest on the funds that have not been paid out at of yet. As the funds sit in your bank interest still accrues. What are your intentions for such?

    Please review and advise,
    Frank P

    His reply to follow.

  5. Frankp says:

    Reply from Jason;

    ails

    These are separate processes, one does not have to do with the other. We are working to get your check reissued next week, I will confirm as soon as I can verify the date. The accounts that we maintain for the purpose of issuing payments do not accrue interest.

  6. Frankp says:

    I’m not the type of person that cares what political party anyone is affiliated with. I am the type of person that cares about the wrong doings of “Big Business” & “The Government”.

    I feel that this site/petition may be of interest to some of you. Take a look for yourself.

    http://abolishnow.com/?gclid=CKXpweDTubgCFZKk4AodSAQAAQ

  7. Frankp says:

    Is anyone still here? Anyone still waiting for a NMS check?

  8. jenn says:

    I am still waiting for both of mine. Just sent my w9 back to nms last week

  9. Frankp says:

    Jenn…. I don’t know the mailing date for checks that were waiting w9′s….. But checks that were sent to wrong addresses were cut.

    I need anyone in that situation to post on here….so I can give them some info.

  10. unknown says:

    I had multiple properties foreclosed on and completed 2 claim forms because they were mailed to me. Now, I’m being informed that I will only receive payment only on one claim. Stating one claim per household, but these were two separate properties and they sent me the claim forms. Has anyone experience this scenario? I have filed a complaint with my AG Office.

  11. Nona says:

    Hi all!! I am still here behind the scene as well!! SMH on stupid people. I have been keeping track and contacting various sources; however my MS has put me out for a bit. I just want you all to know that I am still with you all and the check – well the half that was sent – does NOT mean anything towards the entire cause. Please feel free to email me (as I did post it a while back and Chris should have it).

    Take care and please keep in touch. I will do the same :)

    And forget all about the negative people – they will NEVER REALLY prosper in life!
    Kick them to the curb as in the beginning, they just want to bring everyone down! SMH :( BLAH

  12. Nona says:

    PS. Sure do miss “just chatting” with all of you – no matter :)

  13. Frankp says:

    Unknown….
    From the way I understand it, you will only get a check on your primary residence.

  14. unknown says:

    It was my understanding that there wasn’t any requirements, all you needed to do was just complete the claim form. After all, they mailed me both claim forms

  15. waiting says:

    I also was sent multiple claim forms and only received one payment for the NMS. Is there any recourse for this?

  16. unknown says:

    Waiting…I’m sure glad I’m not the only one with this issue. I filed a complaint to NMS/AG Office, and Rust should be having someone to contact me from them directly.

  17. jean says:

    Hi Nona! How have you been feeling??

  18. Lisa in Michigan says:

    I haven’t been here in a while…mostly because this whole process has been exceedingly frustrating and I just needed a break. I got the W9 and returned it already..though the due date as listed is the 2nd. Called today and they still have no record of receipt…which is not entirely surprising. They also have no timeframe in which they will begin issuing checks. Just another in a long line of unnecessary delays due to disorganization and lack of competence.

  19. destiny cali says:

    i too have called to check on my check release date.the morgage co wamu has not sent out any checks yet if i dont hear or receive something in the mail by the end of the month please call them back..really i sent all forms back before date june 5th still waiting

  20. Kimberly says:

    I’m still waiting for my check and it’s August 10th 2013. The people who need the money the most never get theres

    What I learned NEVER MARRY AN AS*HOLE, NEVER BANK WITH AS*SHOLES, AND NEVER EXPECT JACK EVEN WHEN VICTIMIZED. NEVER ASK FOR HELP EITHER BY FEDERAL AUTHORITIES BECAUSE THEY ABUSE THEIR POWER AS WELL. AND THEY KNOW WHAT I’M FU*KING TALKING ABOUT.

  21. jenn says:

    I know for the irf when I did a w9 it took 3 months to get my check

  22. Lisa in Michigan says:

    Still waiting….

  23. Martin says:

    I got my check today! Orange California.

  24. jenn says:

    Finally got mine….I’m in connecticut

  25. Jennifer says:

    Hi Gang. it’s been awhile…question I am in NJ got my check this past summer however I heard that we may be receiving a check now from our state’s attorney’s general office. Anyone in nj get a check yet? you can email me as well moc.loanull@jn47refinneJ

  26. Kristina says:

    Still haven’t received mine!!!

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