Elijah-cummings

Independent Foreclosure Review: Lawmaker Sees ‘High Error Rates’, Demands Hearing on Abuses

The top Democrat on the House Committee on Oversight and Government Reform is again trying to get to the bottom of what was uncovered during the Independent Foreclosure Review, which was scuttled more than a year ...
Foreclosure settlements

Independent Foreclosure Review: 732,000 Checks Not Cashed 1 Year Later

It’s been a year since federal regulators announced an agreement with more than a dozen mortgage servicers to settle wrongful foreclosures or mortgage-modification abuses affecting more than 4.2 million borrowers. As ...
federal income tax return

Are 2013 Payouts from Foreclosure Settlements Taxable? IRS Addresses Murky Issue

An estimated 5 million borrowers in 2013 received payouts from two huge settlements with the biggest banks over alleged foreclosure abuses or mortgage-aid deficiencies since the housing meltdown of 2007-2008. The ...
foreclosure-settlement-checks

Democrats to Regulators: We Want Foreclosure-Review Report by Year’s End

A trio of Democratic lawmakers are again calling on bank regulators to disclose “critically important” information behind the scuttled Independent Foreclosure Review, which became a $9.3 billion settlement ...
foreclosure-reviews

Foreclosure Review Fallout: OCC Tightens Rules on ‘Independent Consultants’

A regulator has announced stricter rules for some of the biggest U.S. banks when it comes to hiring independent consultants. The move was mainly inspired by the troubled Independent Foreclosure Review, which dragged ...
Countrywide Financial-Bank of America

‘Foreclosure Review’ Link Surfaces from BofA-Countrywide Trial

The Independent Foreclosure Review has sent $2.8 billion in compensation checks to more than 4 million borrowers to remedy foreclosure or mortgage-modification abuses, but along this settlement’s long and ...
mary-kissel

Mind-boggling: Pundit Says No Homeowners Were Wrongfully Foreclosed

Two huge settlements with the biggest U.S. banks — dubbed the National Mortgage Settlement and the Independent Foreclosure Review — involved millions of wronged homeowners thrust into foreclosure. But ...
everbank_center

EverBank to Pay $37M to Borrowers Under ‘Foreclosure Review’ Deal

Federal regulators said EverBank has agreed to pay $37 million in cash payments to more than 32,000 eligible mortgage borrowers after the Jacksonville, Florida-based lender effectively ended its part in the Independent ...
gmac-mortgage

GMAC Adds $230M to ‘Independent Foreclosure Review’ Payouts

More than 232,000 borrowers whose homes were in any stage of foreclosure in 2009 and 2010 with GMAC Mortgage will now receive cash compensation under the Independent Foreclosure Review agreement. GMAC Mortgage is ...
Bank Teller Counting Money for Customer

Expirations Loom on Up to $1B in Foreclosure Review Checks

Nearly all of the 4.2 million payout checks from the failed Independent Foreclosure Review have been issued, worth about $3.5 billion. Rust Consulting, the paying agent, will mail about 37,000 remaining checks totaling ...
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