Under the Independent Foreclosure Review (IFR) Payment Agreement, more than $3.2 billion was distributed to more than 3.6 million qualified customers, representing more than 90 percent of the total amount available for circulation.

Checks related to OCC-regulated banks covered by the IFR Payment Agreement ended December 31, 2016. No extra checks will be issued.

In June 2016, the Office of the Comptroller of the Currency (OCC) escheated roughly $270 million to state authorities, in connection with the agency-supervised payments under the Independent Foreclosure Review (IFR) Payment Agreement. The OCC anticipates to escheat an extra $4 million to state authorities by February 2017 to complete the IFR Payment Agreement program. Eligible customers and their heirs may declare unclaimed funds obligated to them through their states' escheatment procedures. Each state has various timelines, however it may be six months or more after the funds are escheated to the states before the respective state is able to offer payments under their unclaimed residential or commercial property processes. There is no time at all limit within which eligible individuals should request funds under the states' unclaimed funds procedures.

Foreclosure Prevention Assistance

Regulators motivate borrowers requiring foreclosure prevention help to work straight with their servicer or call the Homeowner's HOPE Hotline at 888-995-HOPE (4673) (or at Making Home Affordable) to be put in touch with a U.S. Department of Housing and Urban Development approved nonprofit organization that can offer free support.

In This Section

OCC Terminates Foreclosure-Related Consent Orders
Federal Bank Regulators Fine Document Processor $65 Million
EverBank Payment Agreement
Related Reports
Other Related Documents
En Español

OCC Terminates Foreclosure-Related Consent Orders

Following the verification of restorative actions, the OCC has ended foreclosure-related consent orders versus the following banks.

Termination Order for Bank of America, N.A. (PDF) (June 17, 2015).
Termination Order for Citibank, N.A. (PDF) (June 17, 2015).
Termination Order for PNC Bank, N.A. (PDF) (June 17, 2015).
Termination for EverBank (PDF) (January 5, 2016).
Termination for JPMorgan Chase Bank, N.A. (PDF) (January 5, 2016).
Termination for OneWest (PDF) (July 21, 2015).
Termination for Santander Bank, N.A. (PDF) (February 9, 2016).
Termination for U.S. Bank National Association (PDF) (February 9, 2016).
Termination for Wells Fargo Bank, N.A. (PDF) (May 24, 2016).
Termination for HSBC Bank USA, N.A. (PDF) (January 9, 2017)

Foreclosure-related consent orders against Aurora Bank, FSB, and MetLife Bank, N.A., were ended previously by operation of law after these institutions stopped to run as managed, insured depository institutions.

Federal Bank Regulators Fine Document Processor $65 Million

The federal banking companies fined ServiceLink Holdings, LLC (ServiceLink Holdings), $65 million for improper actions by its predecessor business, Lender Processing Services, Inc. (LPS), which resulted in substantial shortages in the foreclosure-related services that LPS offered to mortgage servicers.

Civil Money Penalty Order (PDF) (January 24, 2017)

IFR Payment Agreement

Agencies Announce Reissuance of Checks Related to the Independent Foreclosure Review.
Foreclosure-Related Consent Orders Status Report April 2014.
Report on Independent Foreclosure Review Payment Data.
Minimum Standards for Prioritization and Handling Borrower Files with Imminent Foreclosure Sale.
Payments start April 12.
IFR Payment Agreement Details.
Amendments to April 2011 Enforcement Actions.
Comptroller Speech.
Payment Agreement Announcement.
Original Enforcement Actions

EverBank Payment Agreement

EverBank Amended Order.
EverBank Accepts Pay $37 Million.
EverBank FAQs

Related Reports

Foreclosure-Related Consent Orders Status Report: Observations, Payments, and Foreclosure Prevention Assistance (April 2014) - On April 30, 2014, the OCC launched a report on IFR Payment Agreements that offers data on the status of payments and foreclosure avoidance help in addition to a discussion of observations from the reviews.
Report on Independent Foreclosure Review Payment Data (May 2013) - This report supplies information on IFR payments by state as of May 31, 2013.
Interim Status Report: Foreclosure-Related Consent Orders (June 21, 2012) - The OCC launched its 2nd interim report on the status of the IFR and actions required by consent orders provided in April 2011 to remedy lacking mortgage servicing and foreclosure procedures.
Interagency Review of Foreclosure Policies and Practices (April 2011) - The OCC, the Board of Governors of the Federal Reserve System, and the OTS performed interagency evaluations in the 4th quarter of 2010 and released a summary of findings in April 2011.

Other Related Documents

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- Collapse All

Enforcement Acton Amendments Implementing Business Restrictions Against Certain Banks (Issued June 2015) Show

On June 17, 2015, the OCC revealed certain company limitations related to mortgage maintenance activities of EverBank; HSBC Bank USA, N.A.; JPMorgan Chase Bank, N.A.; Santander Bank, National Association; U.S. Bank National Association; and Wells Fargo Bank, N.A. These limitations differed based upon the particular situation of each bank.

Amended Consent Orders for EverBank (June 17, 2015) (PDF).
Amended Consent Orders for HSBC Bank USA, N.A. (June 17, 2015) (PDF).
Amended Consent Orders for JPMorgan Chase Bank, N.A. (June 17, 2015) (PDF).
Amended Consent Orders for Santander Bank, National Association (June 17, 2015) (PDF).
Amended Consent Orders for U.S. Bank National Association (June 17, 2015) (PDF).
Amended Consent Orders for Wells Fargo Bank, N.A. (June 17, 2015) (PDF)

Enforcement Action Amendments for Servicers Entering the IFR Payment Agreement (Issued February 2013) Show

- Consent Order Amendment for Aurora Bank, FSB (PDF).
- Consent Order Amendment for Bank of America (PDF).
- Consent Order Amendment for Citibank (PDF).
- Consent Order Amendment for EverBank (PDF) (released 10/16/2013).
- Consent Order Amendment for HSBC Bank (PDF).
- Consent Order Amendment for JPMorgan Chase Bank, N.A. (PDF).
- Consent Order Amendment for MetLife Bank, N.A. (PDF).
- Consent Order Amendment for PNC Bank, N.A. (PDF).
- Consent Order Amendment for Sovereign Bank (PDF).
- Consent Order Amendment for U.S. Bank National Association, U.S. Bank National Association ND (PDF).
- Consent Order Amendment for Wells Fargo Bank, N.A. (PDF)

OCC and Former OTS Enforcement Actions (Issued April 2011) Show

- Consent Order for Aurora Bank, FSB (PDF).
- Consent Order for Bank of America (PDF).
- Consent Order for Citibank (PDF).
- Consent Orders for EverBank and EverBank Financial Corp. (PDF).
- Consent Order for HSBC Bank (PDF).
- Consent Order for JPMorgan Chase Bank, N.A. (PDF).
- Consent Order for LPS; DocX, LLC; and LPD Default Solutions, Inc. (PDF).
- Consent Order for MetLife Bank, N.A. (PDF).
- Consent Order for MERSCORP and Mortgage Electronic Registration Systems, Inc. (MERS) (PDF).
- Consent Orders for OneWest Bank, FSB and IMB HoldCo LLC (PDF).
- Consent Order for PNC Bank, N.A. (PDF).
- Consent Order for Sovereign Bank (PDF).
- Consent Order for U.S. Bank National Association, U.S. Bank National Association ND (PDF).
- Consent Order for Wells Fargo Bank, N.A. (PDF)

Engagement Letters Show

The OCC released engagement letters that explain how the independent specialists, kept by the servicers, will perform their reviews and claims procedures in accordance with the OCC's permission orders. See the engagement letters.