Staff members from the office of Rep. Elijah Cummings, D-Maryland, one of several Democrats who are closely following the mishaps of the Independent Foreclosure Review (IFR), are scheduled to meet with executives of Rust Consulting this week. Cummings and regulators are trying to figure out what exactly is going on with the firm, which has two decades of experience in managing financial settlements and claims.

Rust Consulting Feels Heat from Payout Recipients, Lawmakers

Rust Consulting Feels Heat from Payout Recipients, Lawmakers

Rust Consulting Feels Heat from Payout Recipients, LawmakersMinneapolis-based Rust Consulting, the firm entrusted with distributing $3.6 billion from the Independent Foreclosure Review and $1.5 billion from the National Mortgage Settlement, is getting much more attention that it probably expected from bank regulators, lawmakers and frustrated borrowers looking for answers.

The final straw for those increasingly looking at the firm was the erroneous batch of 96,000 checks sent May 3 that underpaid compensation recipients, the same group of borrowers who have dealt with wrongful or botched foreclosures by more than a dozen mortgage servicers since 2009.

Staff members from the office of Rep. Elijah Cummings, D-Maryland, one of several Democrats who are closely following the mishaps of the Independent Foreclosure Review (IFR), are scheduled to meet with executives of Rust Consulting this week.

“I am eager to understand how this company was selected as the paying agent and how regulators have overseen their work,” Cummings, who is the top Democrat on the House Oversight Committee, is quoted as saying by the Wall Street Journal.

Cummings and regulators are trying to figure out what exactly is going on with the firm, which has two decades of experience in managing financial settlements and claims.

The IFR payouts launched with a mailing on April 12, but bewildered and angry recipients quickly took to social media sites and blogs telling of how the checks bounced when they went to their own banks to cash or deposit the long-delayed compensation.

The “insufficient funds” issue was quickly resolved after the Federal Reserve stepped in.

Bank regulators have worked to “strengthen oversight of Rust Consulting’s execution of the payment process and is continuing to closely monitor the payment agreement,” a Fed spokesman told the Wall Street Journal.

But in prepared testimony before a Senate banking panel last month, David Holland, executive vice president of Rust Consulting, said his firm already provides “comprehensive daily statistical reporting” to the Office of the Comptroller of the Currency, the Federal Reserve and the mortgage servicers.

“Daily conference calls are held with the servicers covering project execution,” Holland said in his testimony. “Two times weekly, conference calls are held with the OCC and the FRB (Federal Reserve Board) covering project execution and future deliverables.”

Currently, Rust is under more intense scrutiny by compensation recipients themselves, many of whom are trying to get answers about the pending payments in the other foreclosure-abuse agreement, the older National Mortgage Settlement (NMS) between 49 state attorneys general and five of the top U.S. lenders.

Rust said that by “mid-2013” it will start distributing the additional $1.5 billion from the NMS that is designated for up to 750,000 claimants who are part of the agreement. Many of these borrowers returned claim letters long before the Jan. 18, 2013 deadline.

But in recent days, Rust has waffled on a timetable. At one point, it stated on the NMS official website that the payouts would be mailed sometime in May, before reverting back to “mid-2013.”

Many NMS claimants expecting a payout have posted comments on eCreditDaily about futile attempts to get answers from Rust executives or representatives by phone, text or email. No one seems to know precisely when the NMS payments will start nor the amounts of the checks. Rust only indicates on the NMS website that payments “will exceed the minimum payment of $840 that was indicated on the claim form.”

One NMS claimant posted an email from a Rust representative stating that claims processing in the NMS is nearly complete and estimated that checks could start in June. Some state AG websites state June as the payout date, but state officials defer to Rust for any further information.

Late Monday, the NMS site was updated slightly, with Rust responding to speculation about check amounts, which is based on the precise number of claims. “The Settlement Administrator is not authorized to release specific information about the number of claims submitted at this time, pending the conclusion of the distribution process.”

Speculation Over NMS Payments
Regulators and state authorities have said from the beginning of the settlement’s announcement that an estimated 750,000 are eligible for payments. Early on, they also speculated that these homeowners each will receive on average $2,000.  But the total number of actual claimants is not known publicly.

Bank regulators say Rust has extensive experience with handling large settlements and has been long involved with processing IFR claims. But Rust was chosen by the banks involved in the failed foreclosure reviews and the NMS. Regulators have been the target of criticism from lawmakers, consumer advocates and the Government Accountability Office for their handling of the Independent Foreclosure Review, that was largely abandoned in January in favor of a $9 billion settlement.

So far, lawmakers and eligible payout recipients have not been told how the banks and regulators arrived at the compensation amounts in the IFR settlement. Most of the IFR checks to 4 million borrowers amount to a few hundred dollars each.

NMS claimants have been doing as much research as  bloggers and journalists into Rust Consulting, uncovering news releases of what some allege to be a conflict of interest between the firm and Citi, one of the five lenders party to the NMS — along with Ally/GMAC, Bank of America, JPMorgan Chase and Wells Fargo.

Citi Venture Capital International (CVCI), a unit of Citigroup Inc., is buying out Apollo Global Management and other unnamed minority shareholders in SourceHOV (Rust Consulting’s parent company) for an undisclosed amount.

One angry NMS claimant recorded a nearly 6-minute conversation with a Rust Consulting call-center representative and posted it on YouTube to demonstrate the futility of trying to get hard answers.

“You decide…who is victimizing the claimants for a second time. Who is too big to fail..the mortgage companies or Rust Consulting. Shame on them…” wrote the video’s publisher.

Meanwhile, bank regulators are still urging IFR payment recipients to call Rust for answers.

“Borrowers can call Rust at 1-888-952-9105 to update their contact information, verify that they are covered by the agreement, or with further questions. Information provided to Rust will only be used for purposes related to the agreement,” says the Federal Reserve’s page dedicated to the Independent Foreclosure Review.



  1. Poor Rust Consulting feeling the HEAT……. Imagine feeling the heat from CITI REPS ON LOSING YOUR HOME!!!!!! And feeling so much heat when being told your house is being TAKEN AWAY FROM YOU AND YOUR FAMILY!!! SIT ON THOSE HOT COALS FOR A LITTLE WHILE RUST CONSULTING!!!! THEN YOU CAN PREACH ABOUT FEELING THE HEAT…….

  2. Where are the rest of the IFR checks ? WHy haven’t they been sent yet ?Why are they waiting for July 15th to send the last “wave” ?

    Rust is as corrupt as the banks.

  3. As i have said in other post. INTEREST!!!! Thats why they are waiting. To gain all the inrerest on every penny they can.

  4. Was it not enough that we were publically humiliated and emotionally devastated when we lost our home? The IFR payments were a slap in the face and now the NMS payments are a big secret that Rust Consulting refuses to share. This abuse from Rust is as bad as the abuse from the banks during the foreclosure process. When Rust said payments were going to be made in May some of us made plans for that money in May. Most of us are still trying to recover from the foreclosure and needed that money in May to make ends meet. Maybe if we were paid the amount that we were due from the IFR settlement we might be a little more patient with the arrival time of the NMS check. RUST CONSULTING should be ashamed of the way they are treating us, the VICTIMS of this housing crisis but instead they are continuing to victimize us even more. Maybe we should sue Rust for financial and emotional abuse.

  5. Jean…well said. We are getting beaten on by Rust, our individual state Attorney Generals, and wonderful Mr. Smith, the overseer of the NMS- they have all made if VERY clear we DO NOT MATTER. I know that once I FINALLY receive my NMS I will not, ever again, think about Congress, the Senate or the guy or girl in the White House….I will never vote again, I will live out my life playing with my dogs and my grandbabies…and the rest of them can go pound sand.

  6. So Wells Fargo screwed my active duty husband and sends him 600$
    , now I’m sure we will get equally screwed with this settlement. Although,maybe they are just trying to hide or embezzle some funds. Maybe the issue is not as many people returned there forms and they are worried they have to send us to much money since they put the rule that you have to send in the forms to qualify??? God forbid they have to send us a just amount of money for an ILLEGAL FORECLOSURE!!!!!

  7. When will borrowers receive answers in how we were categorized in the IFR payment matrix, and why millions of homeowners only received small payments when they were entitled to receive much more according to the matrix? The payments were insulting, and do not account for enough in compensation for botched loan modification denials, and damaged credit for millions of homeowners by reporting the debt of their property who many that have lost their property, but still have to suffer for this debt on their credit. I thought that under the settlement, borrowers were suppose to be offered back their homes as long as their properties were not sold to a 3rd party along with forgiveness by their servicer with a modification loan, and to remove their debt from the borrowers credit reports? When are borrowers who have lost their homes suppose to receive this option? I have not read anything yet on any borrowers who have began receiving any assistance in the modification process from their servicers. Why was their not anyone monitoring the payments from Rust Consulting to prevent any payment errors, and who was the consumer who alerted the federal reserve of the error? I am curious when the class action lawsuit will be filed for millions of borrowers who were short changed in this IFR settlement for all the abuses they suffered including loss of their homes who should still have their homes today.

  8. This company is horrible. They botch every settlement they do. I was supposed to get a check from a Bank of America Overdraft settlement last February that they were handling. They sent out postcard checks (easily stolen). I never received mine. I contacted them FOUR times, wrote them, left messages and never got an answer back. I finally contacted the BBB and they contacted Rust who promised they would remain my check in mid-May. I still have not got it. And I don’t think I will. It was only for $33, but that’s not the point. In addition, they have botched the DeBeers settlement. They are also in charge of the National Mortgage Settlement payout. Two weeks ago they posted on their site that they would be mailing out checks in four to six weeks. Then suddenly they did a turnabout and now they are saying they are “anticipating” mailing those checks out mid-year. Who the heck knows when they are going to get those out. They are completely incompetent.

  9. There are some of us who are still waiting for our “relief” payment from the IFR. No one is able to say why borrowers who needed to provide additional information were not asked for it until AFTER all other payments were sent and why checks cannot be released as the W9 is returned. Why we have to wait an additional 60 days is beyond me…and is just not right.

  10. Came Across This… INTERESTING!!

    More Sharing ServicesShare |


    It seems that servicers/banks cannot foreclose with an open OCC complaint. This is probably one of the best helps an owner can have in dealing with the banks. Use it wisely and frequently.

    1. File the complaint on the OCC Website.

    2. An OCC complaint response is returned by email. Print this response for your records.

    3. Forward this open OCC complaint ticket to the legal department of the Foreclosure Trustee.
    This is the company that will postpone the foreclosure auction.
    A List of Trustee contact information is at the bottom of this page.

    4. Resubmit Complaint to Foreclosure Trustee 10 days prior to the next scheduled Auction.

    sample complaint in word format sample complaint pdf format

    Complaints would center around bad/illegal servicer treatment like:
    not getting a single point of contact
    not having calls returned as promised
    not receiving promised loan mod documents
    being lied to by the servicer
    having the loan impound accounts messed up by the servicer
    having the servicer refuse to accept your loan payment
    not getting a loan mod
    servicer not responding reasonably to reasonable requests…
    false notarizations and forged signatures on the recorded documents
    threatened with foreclosure or foreclosed during a loan mod or short sale.

    ALWAYS log everything that occurs between you and any servicer, the OCC, the Foreclosure Trustee, on the phone, in an email, or in the mail. Track the employee names, ID numbers, phone numbers, departments, geographic location, discussion and make special note of any commitments the contact makes – like mailing out information to you. Every time the servicer says one thing during the conversation, then says something different, repeat that change to verify it – and log it into the recorded phone call. Remember these calls are being recorded. Use that to your advantage.

    This Log will prove extremely helpful in your offense and defense efforts, show patterns over time, keep you reminded of what has happened, and help present your “case” to others should that need or opportunity arise.

    List of California Foreclosure Trustees and Contact Info:
    Allied Trustee Service: 714-573-1965
    California Reconveyance Co: 9200 Oakdale Ave CA2-4379, Chatsworth, CA 91311 714-573-1965
    Cal-Western Reconveyance Corp: 525 E Main St, El Cajon, CA 92020, 619-590-1221
    ETS Services LLC: 15455 Suth F Mission Blvd Suite ??, Mission Hills, CA 92345, 714-730-2727
    Fidelity National Default Services: PO Box 250, Orange, CA 92856, 714-573-1965
    First American Title Ins: 4380 La Jolla Village Dr 110, San Diego, CA 92122
    Northwest Trustee Services Inc: 1241 E Dyer Rd 250, Santa Ana, CA 92705, 877-484-9942
    Old Republic Default Mgmt Svcs: 500 City Pkway W 200, Orange, CA 92868, 714-573-1965
    Quality Loan Service Corp: 2141 5th AVe, San Diego, CA 92101, 714-730-2727
    Recontrust: 1800 Tapo Canyon Rd, Simi Valley, CA 93063 800-281-8219
    TD Service Co: 1820 E 1st St 210, Santa Ana, CA 92705, 714-480-5690
    Trustee Corps: 17100 Gillette Ave, Irvine, CA 92614, 714-730-2727
    Wolf Firm: 2955 Main St 2nd, Irvine, CA 92614, 800-280-2832

    Out of State Foreclosure Trustees And Contact Info:
    First Am Trustee Servicing Solution: PO Box 961253, Fort Worth, TX 76161, 916-939-0772
    National Default Servicing Corp: 7720 N 16th St 300, Phoenix, AZ 85020, 602-264-6101
    NDEX West LLC: 15000 Surveyor Blvd 500, Addison, TX 75001, 916-939-0772
    Regional Trustee Services: 616 1st Avenue Suite, Seattle, WA 98104, 714-730-2727
    Western Progressive LLC: 2002 Summit Blvd 600, Atlanta, GA 30319, 866-960-8299

    Other Foreclosure Trustee Mills:
    Barrett, Daffin, Frappier, Treder, & Weiss: 855-286-5901, fax 972-661-7800
    First American Trustee Servicing Solution: 916-939-0772, no fax/email

    CFPB: Consumer Financial Protection Bureau
    A California Association of Realtors attorney told me this is the best place to file a complaint as a consumer. The consumer is given a tracking number and the banks HAVE to respond. And don’t forget whistle-blowers are protected and can remain anonymous.


    The bank settlement required the servicers to stop their bad practices by 10/3/12. To date, the AG’s office and Moderator of the AG Settlement, Charles Carriere, 1-949-824-3071, have received thousands of complaints.

    California Monitor Website – covers these bank reforms and has a complaint link.


    NOW the banks, in a significant and strategic move to potentially circumvent the Settlement, have sold and are selling the “loan servicing and loan modification rights” to wholly owned subsidiaries. These corporations do business off-shore and out of the reach of United States regulatory agencies.

    CA Attorney General: File a complaint against a bank or other business
    Attorney Misconduct: file a complaint with the California State Bar
    Notary Fraud: file a complaint with the California Secretary of State
    Corporate Fraud/Forgery: file a complaint with the Department of Corporations

    TEMPLATES FOR COMPLAINTS!!! … acters.pdf

  11. If any of You had a real case, you’d contact a lawyer. Be happy you’re getting something, stop being a victim, and get in with your lives.

  12. John, you must work for Rust or the banks… How dare you address people like that, that lost their homes to fraud. If you lost your home and you’re happy with what you got that’s on you. I’m sure most are trying to get a lawyer to take their case but they are just as stupid as you are. If we could have found one by now there would either be a class action or a lot more individual suits and its not because we don’t have a case it’s because they are afraid to take on the “TOO BIG TO FAIL BANKS.” You better believe that every evil will have their day some way some how.

  13. John, It seems like life has been good to you. But don’t get to complacent and think your immune to the many road bumps and obstacles life throws at you. Just remember when your luck runs out and you are diagnosised with cancer, have a stroke or a heart attack, get injured in a car accident, wife leaves you for another man or some other life changing event you too will seek the compassion from the 4.2 plus million people who you just insulted.

  14. I mean the lawyers are just as stupid as John… Not the IFR victims. Just thought I would clarify.

  15. I called Rust today to send me my form that I filled out in the beginning of this process.. I was told I will receive my form in 14 Days….. I do have copies……. But wanted to see what they will send me. Just FYI for those that lost there paperwork, did it on line or didn’t fill one out cause you did’t get one in the mail or just to see what they send.. Never Know you might get one they screw up so many times…. 🙂

  16. John, “be happy we are getting something”??? Really??? Should we be happy that our houses were outright stolen too?? You must not have experienced the loss of your home. The little “something” we might be getting will not even be close to the tens of thousands of dollars that we lost in addition to our home. Educate yourself before you speak. Better yet, don’t speak at all!

  17. Wow just saw “john’s” comment….he must work for Maine’s AG’s office…lol!! Mr. X, you couldn’t have said it better. I hope our little friend “john” never has to deal with a bump in the road of life….for it is people like him that never come back from the fall. Bet he’d be the type that will push old ladies out of the way to be first in line for food stamps and section 8.

  18. First, JOHN unless u are apart of this you need to mind ur own business. What I don’t understand is why is there a difference in money between people who requested a review and one that didn’t? I did know about it till I got a post card way after the cut off time. I also don’t understand why we are not given a chance once we are placed in category, to talk to someone about why we are under that category. Is this not OUR settlement???? ANYBODY IN VIRGINIA LOOKING FOR LEGAL HELP OR CONTACTED State Attorneys Office yet. Need help to move forward. Don’t know where to look or start.

  19. Boy, wouldnt we all like to live in “pencil %&*# john’s world. Yeah i bet his balls against the wall he would push everybody over the edge just to get what he thinks the world of big bad bankers owe him. Walk a day in our shoes john then you can visit the forum and leave a comment for the robo signing, illegal, money hoarding, should be inprisoned, crocks that these bankers and consulting agents are turning about to be….. infact i bet alot their names might JOHN. I have moved on with my life.

  20. I agree with john. It’s not the banks fault people bought houses they cant afford. The banks have no obligation to bail you out. If you cant afford your house payment then go rent an apartment. Damn people are so lazy that they want free money. I lost my home and i dont blame the banks. It was my fault for buying my home. The bank didnt force me to take on a mortgage.

  21. The bank didnt force any of us to take a mortgage. But the banks are the ones who done the wrong doing by robo signing foreclosures. We werent behind in our house payments….. but as crocked as they are our house had the locks changed in a matter of 35 days without us ever having a clue that anything was wrong or had happened. Who else would you blame. We were told to get out! I never said anyone twisted our arms to take on the supposed “american dream” of owning our on home. And if it is any of your business, which it i.snt but we didnt leave above our means, our home was a modest 90,000 home. Had lived there for almost 8 happy years, and then bam without notice told we had days to move. Not lazy in the least, just very gulliable for putting our trust into a bank

  22. Occupy Justice Department: Foreclosed Homeowners Arrested Protesting U.S. Refusal To Prosecute Big Banks

    WASHINGTON — Owners of foreclosed houses were arrested during a protest outside Justice Department headquarters Monday, where they demonstrated against prosecutors’ failure to take legal action against bankers.

    Seventeen former homeowners were arrested, according to Washington police. The demonstrators were seized outside the Justice Department building as they sat in groups behind a police barrier, singing protest songs largely invoking language from the Occupy Wall Street. They blocked traffic in front of the Robert F. Kennedy building beginning at 2 p.m. Five hours later, Constitution Avenue remained blocked from 9th Street to 10th Street. Many of the protesters who were not arrested had set up tents outside the building and said they planned to spend the night.

    Those arrested were charged with “incommoding,” or obstructing traffic, according to Ann C. Wilcox, a lawyer representing the protesters.

    The protest was organized, in part, by Occupy Homes, a grassroots organization that grew out of the Occupy Wall Street demonstration to support homeowners facing foreclosure. Other grassroots organizations, including coalitions from as far as Washington state, California and Florida, also joined.

    No Justice Department officials come outside to acknowledge the protesters. A department spokesman wasn’t available for comment after business hours.

    “We want our attorney general, Eric Holder, to bring some accountability from the banks and put them in jail,” said Vivian Richardson, 62, of San Francisco, whose home was foreclosed in 2010. Richardson fought against the banks to win back her house with the help of Alliance of Californians for Community Empowerment and other community-based organizations.

    Nearly a third of all foreclosed borrowers who faced foreclosure proceedings brought by the biggest U.S. mortgage companies came to the brink of losing their homes due to potential bank errors or now-banned practices, according to a study from bank regulators published in April.

    Many homeowners who successfully fought banks have received compensation checks far below the value of the homes they lost.

    Eric Krasner’s home in Frederick, Md., was foreclosed on in 2010 after he had filed for bankruptcy. Krasner, 52, now living in Atlanta, battled banks for years before winning compensation. He said his fight revealed disorganization distribution by federal regulators of a $9.2 billion settlement with mortgage companies over improper foreclosures.

    “When they said, ‘Oh we’re going to do this settlement, but it’s taking so long we’re not even going to look at your files,’ I started calling my elected officials looking for answers,” Krasner told The Huffington Post. “How are they going to determine how much pay us … if they’re not going to even look at our” files?

    Krasner figured he was owed $62,000 from the settlement, but when his check came, he received only $2,000. Many in his situation received as little as $300 in compensation. “Until Eric Holder does his job and puts bankers in jail, this is going to continue,” Krasner said.

    “Banks were bailed out when they needed help … and they’re not giving back like they were supposed to,” said Richardson, echoing the anger toward the big banks that received billions in 2008 and 2009 to help keep them afloat after the economy soured.

    That “too big to fail” and “too big to jail” feeling has recently been taken on by the Democratically controlled Senate.

    In March, the Senate voted 99-0 in favor of a non-binding budget amendment, introduced by Sens. David Vitter (R-La.) and Sherrod Brown (D-Ohio), to eliminate subsidies or funding advantages for Wall Street banks with more than $500 billion in assets. However, as it is a non-binding amendment, and it was attached to the Senate budget never taken up by the Republican-controlled House, which passed the budget introduced by Rep. Paul Ryan (R-Wis.) earlier that month.

    In early March, Holder told the Senate Judiciary Committee that some banks are in fact too big to prosecute because doing so “will have a negative impact on the national economy, perhaps even the world economy.” Last week, Holder tried to roll back his earlier statement, telling a House Judiciary Committee that there is ” no institution … who cannot be investigated and prosecuted by the United States Department of Justice.”

    This article has been updated to include the charge against those who were arrested. … 09305.html

  23. Jack Dumb and John …….You are Clueless…… Find somewhere else for your stupid comments…. Educate yourself before you speak. Idiots WOW!!!!

  24. Thank you Unknown. For informing these people who obvisously think we are all lazy bums, wanting for free money as they say. I got a whopping 400.00 check. That really saved my day. And koodoz to those who right now have been arrested and victimized once again for standing up for what they know to be right in washington. Thank you again, kelly

  25. It is people like John and Mr. Dempsey that really frosts my behind. Where do they get off thinking that everyone in this situation are low life bums?? I NETTED $7690. PER DAMN MONTH after a wonderful promotion at work (that I DESERVED AFTER 14 YRS) . My house payment was $890. per month and I approached my servicer to change my loan life from 30 years to 15 years because I DAMN WELL COULD AFFORD IT. Then they stole my house through no fault of my own!! John & Mr. D….you know you ever heard of putting it where the sun don’t shine…..buddies let me tell you something…you DO NOT know it all…each case is different, and you just got a good smack in the face on your biased opinions of what this is all about.

  26. US foreclosure victims threaten civil disobedience

    Krasner’s story is one of hundreds of thousands of people who’ve lost their homes to foreclosure.

    From Florida to New York desperation and outrage towards banks is increasing as the foreclosure rate puts tens of thousands at risk of losing their homes every month.

    Hundreds of protesters marched through the streets of DC calling for bankers to be held responsible and prosecuted for sweeping foreclosure practices which they call ‘troubling.’

    Hundreds of protesters called for the US Department of Justice to demand an end to mass foreclosures.

    “Nearly 800,000 Americans lost their homes through foreclosure in 2012. Bank foreclosures are still running at a rate of over 40,000 a month. Indeed “the percentage of loans in foreclosure remains a staggering eight times higher than it was in 2005” — 5.3 million American households behind on their mortgage payments.

    Many of those homeowners are African American who have suffered disproportionately from foreclosures due to racially discriminatory lending practices.

    More than a dozen protesters were arrested by police for civil disobedience outside of the Justice Department.

    But victims of foreclosures say it’s a small price to pay to denounce big banks which profit tremendously from people losing their homes.

    Krasner says his life will be forever changed as he and his family struggle to get back on their feet and find a new home

    Video:::: … obedience/


    An OOHA resident fighter, Carmen Pittman, was tazed and violently arrested this morning while peacefully protesting at the Department of Justice. She was there with others demanding that Eric Holder and the DOJ prosecute and jail bankers for their economy-crashing crimes.

    Here’s more on Carmen’s story and video:

  28. Sure they stole your house brileyrac. If you made as much money as you claim you wouldnt be asking for a redo on your loan. All you had to do was double up on your Payments and it would be almost the same as refinancing your home. I find it hard to believe someone that claims they net over 7000 a month is crying about an 800 payment. You probably work at walmart making 8 dollars an hour. Save your tears and sorrow for someone who gives a damn. All the other idiots that think the same way can suck it. Get on with your life and buy a new house. i did and im happy with my new home. Anyone that lost a home can rebuild their credit if they work on it. It took me two years but I did enough to qualify for a new loan. By the way I received a check for 6000 from hsbc for my foreclosure. I love it. God bless America. I never even requested a modification. Just walked away. Ha ha. The rest of you that got a few hundred sorry. But thats the way the cookie crumbles.

  29. Hey Jack , pull your head out and listen, you wanna be a tough guy? go ahead and post your address so you can see what happens to #$%$ talking dumba$$es that have no idea what they are talking about, post your address tough guy, or shut the hell up

  30. Jack. Would LOVE to know your phone number and would love to see you face to face . Please

  31. My husband and I did not buy a house we could not afford. My active duty navy husband was transferred overseas to serve and while the SCRA was suppose to protect us and help modify the terms of our loan WF decided to illegally foreclose on us without notification. And yes, our case has been sent by JAG to the DOJ. Don’t be so ignorant to think everyone who lost there homes simply did not pay. Banks were not applying payments on mods or in our case waiting till my husband was in harms way to screw us. They hid our orders and lied to the courts about my husband being active duty. Even filed the paperwork stating that so they could go through with the auction. So who has the issues? It will be WF once the DOJ finishes reviewing our case.

  32. Im laughing how all u unemployed losers are getting worked up over my comments. My job has been accomplished. Lol. Im laughing straight to the bank. Ha ha ha.

  33. jack dempsey is a liar, he’s a scared little coward that only posts this stuff to upset people. One day this worthless coward will meet someone, who will fix his pathetic little coward way of thinking. Jack, if you read this, step up for once you scum of the earth , sack of crap. Meet up with me you cowardly waste of air. Your parents should be ashamed for raising (or lack of) such a worthless piece of crap. I hope you choke to death on your pathetic lies and cowardly life. It has to suck to have your life Jack. Do us all a favor and jump off a bridge.

  34. If all you people are getting that upset over comments by jack and john then all of you are stupid. They can say whatever they want. It is called freedom of speech created by your own government. If you dont like what they have to say then just go on to the next comment and ignore them. Simple as that.

  35. Ahh james i see i called ur bluff and u run like a coward. I thought so. My work here is done. And trust me know one will ever step up to me. Many have tried and never succeeded. I see you dont post ur name or address. U are a coward. Plain and simple.

  36. Jack
    Are you by the corner of Raven street ? Need your phone number tough guy. Im driving there now

  37. Freedom of speech. If u dont like what i say then move on to the next comment. Sorry guys just keeping it real here. Im sure some people were wronged. But the majority of the people took on loans they couldnt afford. For the ones that lost their homes incorrectly then they should be compensated. Sadly most of the people dont fall in this category and just want a free buck. Im tired. Good bye all. And may God bless America. Land of the free and home of the brave.

  38. Jack works for Rust at 8 bucks an hour I just know it, lol!! Yesterday Mr. Dempsey’s posts upset me, today they are actually making me laugh…thanks Mr. D…I needed a good laugh and I appreciate how you helped with that.

  39. I sometimes wonder if people that are so unhappy and strike out at those that they consider “less than” themselves ever realize the mental health issues they are displaying for all but themselves to pick up on. Happy people don’t troll websites to stir up hate and discontent they are to busy living and loving.Posted a website that they would be better served spending their time at.

  40. lets sue rust some people got lots of money while others got pennies why and how I’m looking for a lawyer.

  41. When it first came out- that there was a process of reviewing the foreclosed homes and practices… I was so happy… happy to know that someone else will review the file and see the errors the bank made. It was a sense of relief… and then to see that we would be compensated for the errors that the bank made… it was a sense of hope… hope that made me think even though we lost $100,000 in our house that we might get $15,000 to $60,000 … it felt like a safety net. Which was lost when we lost the home to errors. So for everything to change with the payouts is a let down… I think that is what everyone is so disappointed in.. I can tell you from my stand point -it was a let down and hope was all lost. I am sure that everyone is rebuilding their lives after their foreclosure.. again with experience-here- its not easy and to try to understand that the hope of someone reviewing your file is lost because the dynamics of the game has changed is heartbreaking. I really thought we were getting more -just like everyone else was.. My husband kept saying don’t count on that money.. I just had that slight bit of hope.. Then it got snatched away when we got our check. I keep hoping that we will get another check.. in hopes there was a mistake.. I guess the real question is .. is Why did Rust Consulting get so much money to review the files if they weren’t going to pay out the big bucks ? Why bother to review the files.. Sounds like they just wanted to send people money to shut everyone up.. Another thought is.. people who did NOT loose their home should keep their comments to themselves.. you don’t know what it feels like until you live thru it..

  42. Well we are part of Saxon and for my $300.00 are we getting an additional check or have they never gone out? My Congressperson has no idea what is going on and they need to be kept informed on what is going on. The banks got off scott free and the ironic thing about this they were RESCUED by THE US GOVERNMENT in 2008. The banks feel like they have done nothing wrong. Anyone who was with Saxon and Litton (Morgan Stanley and Goldman Sachs) were never given the option to have their records reviewed. I know in 2009 and 2010 we were served papers to foreclose on our home while we were making our payments to them.


  43. Its aweful convenient that one of the banks thats is amongest these is buying shares in Rust consulting…. (trying to put their money back in their pocket, how nice)… yes these payouts are a slap in the face when you did what they asked to help with keeping your home snd they still take it, then to only give you $800… when your mortgage was $75, 000…. how nice to take your home and keep the money in your pocket too..

  44. So, old on still but I’m thinking that they may have not changed the one that plays during closed hours. Yesterday, after you had posted that it was changed, I called it and sure enough it was. The strabge thing was though, is it was only like 6:30 Rust time and the only option on the new message was to listen to FAQ’s. There was no option to talk to anyone. I think something may be brewing…

  45. Chris you are Amazing!!!!!!!!!!! hmmmm???? i smell and detect you writing a book about all of this. I can see you now on Good Morning America giving your interview. You will have enough money to buy out Rust Consulting, the banks, etc. putting some money aside from the NMS to buy my copy LOL. have to laugh to keep from crying. You have inspired and encourage me in so many ways. Thanks for never giving up and fighting for us and making a difference. Kind regards

  46. You know what amazes me…any fool that knows how to use a calculator could determine the amount owed to each claimant out of the pool of money minus the Rust Consulting’s fees and write the checks. These guys are supposed to be CPAs and they’ve had since January to do what should have taken 30 seconds and what no doubt is just a ploy to rack up more fees since that’s the MO for lawyers. Stupidity, mediocrity and incompetence and especially greed reign supreme!

  47. Exactly Dean…especially when we see that Oklahoma’s AG who wisely refused to sell his state out by the way, has already compensated their claimants and are repairing to issue round two. They seem to have been able to organize rather quickly and efficiently without all the unnessisarry red tape and delays. What did they do that the other 49 AG’s need to learn from?

  48. I would like everyone to know just exactly what I was told when I spoke to the O.C.C. in Feb 2013. I was informed that two settlements had been reached, one for 55 billion dollars, and another for 45 billion dollars. Now was I misinformed, or are there just a bunch of clowns running the show.

  49. I got letters for both settlements saying that I qualified and to my suprise i was not getting nothing from the independent foreclosure review and only in the national mortgage claim. I tried to contact Rust Consultants numeros of times and they would not listen to me. I should have been awarded money but i had no one to help.

  50. Well I have been now waiting for 9 months to get a replacement check. I originally asked for the check to be put in just my name, but it was taking so long for the review, over 4 months, that I then just asked that it be sent with the original names on it. So, instead of just re-issueing my check, it went back to their review team, why I don’t know, and I am still waiting for a check, it is now going on 9 months. These people do not know what they are doing and these problems should really be looked into. You see numerous complaints from other class action settlements with this company. They must have connections because despite all the complaints they’re still getting the business.

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