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.
Bank regulators keeping tally of checks cashed in the Independent Foreclosure Review (IFR) mailings put the running total at more than $2 billion as of Thursday, but that amount should have been higher if not for more fumbling by the paying agent, Rust Consulting. Now comes the sequel: delayed payments from the other agreement, the National Mortgage Settlement.
Military servicemembers are getting shortchanged when it comes to protections against foreclosures, particularly after they enter active duty, according to several House Democrats who are introducing a bill to strengthen federal law that was enacted before the U.S. entered World War II.
Following the New York attorney general’s announcement of pending lawsuits against two of the five banks in the National Mortgage Settlement, it has come to light that other AGs have complained of lenders violating the rules of the year-old pact with 49 states.
New York’s Attorney General will become the first state top prosecutor to sue banks that are part of last year’s $25 billion National Mortgage Settlement for failing to improve their servicing standards under the terms of the agreement.
If you’ve received a letter from Epiq Class Action & Claims Solutions regarding a settlement with Wells Fargo over discriminatory lending, then you have until June 25 to respond and qualify for compensation.
Banks and their subsidiaries are still filing invalid documents and wrongly foreclosing on properties, an analysis of thousands of documents and lawsuits show in California’s Bay Area.
No one feels the pressure more than Smith and his oversight office as consumer advocates, housing counselors and lawmakers have relayed to him a litany of complaints about the lenders, one year after they settled charges of “robo-signing” and other wrongdoing and foul-ups in foreclosure cases nationwide.
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.
A Senate Democrat is calling for an investigation into possible violations of terms reached a year ago as part of the $25 billion National Mortgage Settlement with five of the biggest lenders.