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Was your home in the foreclosure process in 2009-2010, and was your mortgage loan serviced by one of the companies listed here?

Mortgage loan companies

If you believe foreclosure errors cost you money, you can request a free review of your mortgage foreclosure file by a neutral party.

You give up nothing by requesting a review and waive no rights by accepting compensation.

If an error is found, you could receive a payment or other compensation that may include refunded fees, stopping of a foreclosure or payments up to $125,000 plus equity.*

Visit IndependentForeclosureReview.com or call 1-888-952-9105 to request a review today. You must submit a Request for Review Form no later than December 31, 2012. Don’t pay for help to request a review. Federal bank regulators—the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency, a bureau of the U.S. Department of the Treasury—are directing and monitoring the review process.

For more information, go to the government websites: OCC.Gov or FederalReserve.Gov/ConsumerInfo/Independent-Foreclosure-Review.htm

Independent Foreclosure Review FAQs


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Q: What kinds of foreclosure actions are part of the Independent Foreclosure Review? (Do I qualify for a review even if my house did not go all the way through a foreclosure sale?)

A:

Foreclosure actions include any of the following events that took place related to a primary residence between the dates of January 1, 2009 and December 31, 2010:

  • The property was sold due to a foreclosure judgment.
  • The mortgage loan was referred into the foreclosure process but was removed from the process because payments were brought up-to-date or the borrower entered a payment plan or modification program.
  • The mortgage loan was referred into the foreclosure process, but the home was sold or the borrower participated in a short sale or chose a deed-in-lieu or other program to avoid foreclosure.
  • The mortgage loan was referred into the foreclosure process and remains delinquent but the foreclosure sale has not yet taken place.

Your mortgage loan may qualify even if your property did not go all the way through foreclosure sale.

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Q: How do I know if I am eligible for the Independent Foreclosure Review? What determines if I am eligible for an Independent Foreclosure Review?

A:

To be eligible for the Independent Foreclosure Review, your mortgage loan must first meet the following initial eligibility criteria:

  • Your mortgage loan was serviced by one of the participating mortgage servicers.
  • Your mortgage loan was active in the foreclosure process between January 1, 2009 and December 31, 2010.
  • The property was your primary residence.

You may check your own eligibility online by going to IndependentForeclosureReview.com and selecting your servicer’s name and entering the required information. If your mortgage loan does not meet the initial eligibility criteria outlined above, you can still have your mortgage concerns considered by calling or writing your servicer directly.

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Q: Where can I call if I need help completing the form or have any questions about the review process?

A:
You can contact your local community outreach organization. Or call 1-888-952-9105 Monday through Friday, 8 a.m.–10 p.m. ET or Saturday, 8 a.m.–5 p.m. ET. If you have already submitted a Request for Review Form, please have your Reference Number available to expedite your call.

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Q: What is the Independent Foreclosure Review?

A:
As part of a consent order with federal bank regulators, fourteen mortgage servicers are identifying customers who were part of a foreclosure action on their primary residence during the period of January 1, 2009 to December 31, 2010. The Independent Foreclosure Review is providing borrowers the opportunity to request an independent review of their foreclosure process. If the review finds that financial injury occurred as a result of errors, misrepresentations or other deficiencies in the servicer’s foreclosure process, the borrower may receive compensation or other remedy.

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Q: Who are the participating servicers? What mortgage servicers and their affiliates are part of the Independent Foreclosure Review process?

A:

The list of participating servicers includes:

  • America’s Servicing Co.
  • Aurora Loan Services
  • BAC Home Loans Servicing
  • Bank of America
  • Beneficial
  • Chase
  • Citibank
  • CitiFinancial
  • CitiMortgage
  • Countrywide
  • EMC
  • EverBank/EverHome Mortgage Company
  • Financial Freedom
  • GMAC Mortgage
  • HFC
  • HSBC
  • IndyMac Mortgage Services
  • MetLife Bank
  • National City Mortgage
  • PNC Mortgage
  • Sovereign Bank
  • SunTrust Mortgage
  • U.S. Bank
  • Wachovia Mortgage Washington Mutual (WaMu)
  • Wells Fargo Bank, N.A.
  • Wilshire Credit Corporation

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Q: If the borrower is injured, debilitated, or had died, can someone else sign the form?

A:
Yes, any borrower, co-borrower or attorney-in-fact can sign the form. In the event of a finding of financial injury, any possible compensation or other remedy will take into account all borrowers listed on the mortgage loan either directly or to their trusts or estates.

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Q: Will I need an attorney to submit the Request for Review Form? What if someone offers to complete my form for a fee?

A:

No. However, if your mortgage loan meets the initial eligibility criteria and you are currently represented by an attorney with respect to a foreclosure or bankruptcy case regarding your mortgage; please refer to your attorney.

The Independent Foreclosure Review is free. Beware of anyone who asks you to pay a fee in exchange for a service to complete the Request for Review Form.

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Q: Who can submit or sign the Request for Review Form?

A:
Either the borrower or a co-borrower of the mortgage loan or their attorney-in-fact can submit and sign the form. However, all borrower(s) must have authorized the borrower signing the form to proceed with the request for review.

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Q: What are some examples of financial injury due to errors, misrepresentations or other deficiencies in the foreclosure process?

A:

Listed below are examples of situations that may have led to financial injury. This list does not include all situations.

  • The mortgage balance amount at the time of the foreclosure action was more than you actually owed.
  • You were doing everything the modification agreement required, but the foreclosure sale still happened.
  • The foreclosure action occurred while you were protected by bankruptcy.
  • You requested assistance/modification, submitted complete documents on time, and were waiting for a decision when the foreclosure sale occurred.
  • Fees charged or mortgage payments were inaccurately calculated, processed, or applied.
  • The foreclosure action occurred on a mortgage that was obtained before active duty military service began and while on active duty, or within 9 months after the active duty ended and the servicemember did not waive his/her rights under the Servicemembers Civil Relief Act.

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Q: How can I submit the Request for Review Form?

A:

Homeowners meeting the initial eligibility criteria were mailed notification letters with an enclosed Request for Review Form before the end of 2011. If you received the notification letter, you can send in your Request for Review Form in the prepaid envelope provided or you can complete a Request for Review Form online at IndependentForeclosureReview.com. The Request for Review Form must be postmarked or submitted online no later than December 31, 2012.

If your loan is part of the initial eligible population and you need a new form by mail, have questions, or need help completing the form you have received in the mail, call 1-888-952-9105, Monday through Friday, 8 a.m.–10 p.m. ET or Saturday, 8 a.m.–5 p.m. ET.

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Q: Am I affected if I submit a Request for Review Form while in active bankruptcy?

A:
If you submit a Request for Review Form and a review of your foreclosure process is conducted, this will have no impact on your bankruptcy. The Independent Foreclosure Review is not an attempt to collect a debt. If you are in bankruptcy, please refer your attorney.

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Q: How do I know who my servicer is? How do I find them?

A:

The company you sent your monthly mortgage payments to is your mortgage servicer. It is not necessarily the company whose name is on the actual foreclosure documents (although in most cases, it is). If you don’t remember the name of the servicer for your foreclosed property, we suggest you review cancelled checks, bank statements, online statements or other records for this information.

If you are still unsure of who your mortgage servicer is or do not see their name listed in the servicer list, please call 1-888-952-9105, Monday through Friday, 8 a.m.–10 p.m. ET or Saturday, 8 a.m.–5 p.m. ET.

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Q: What happens during the Independent Foreclosure Review process?

A:

Once an eligible borrower submits the Request for Review Form, an acknowledgement letter will be sent by the independent review administrator within one week after the request is received. The request will be reviewed for inclusion in the Independent Foreclosure Review. If the request meets the eligibility requirements, it will be reviewed by an independent consultant.

The servicer will provide relevant documents along with any findings and recommendations related to the request for review to the independent consultant for review. The servicer may be asked to clarify or confirm facts and disclose reasons for events that occurred related to the foreclosure process. The borrower could be asked to provide additional information or documentation. Because the review process will be a thorough and complete examination of many details and documents, the review could take several months.

The Independent Foreclosure Review will determine whether financial injury has occurred as a result of errors, misrepresentations or other deficiencies in the foreclosure process. The borrower will receive a letter with the findings of the review and information about possible compensation or other remedy.

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Q: If I have already submitted a complaint to my servicer, do I need to submit a separate Request for Review Form to participate in this process?

A:
Yes. If your mortgage loan meets the initial eligibility criteria, the Request for Review Form must be completed to the best of your ability to be considered for the Independent Foreclosure Review process. You can complete a request for review online anytime at IndependentForeclosureReview.com.

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Q: Does submitting a Request for Review Form prevent me from taking other action against my servicer?

A:
No. Filing a request for an Independent Foreclosure Review will not prevent you from any other options you may pursue related to your foreclosure.

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Q: What can I do if I disagree with the review results? What recourse do I have?

A:
The review decision is considered final and there is no further recourse within the Independent Foreclosure Review process. However, the review will not have an impact on any other options you may pursue related to the foreclosure process of your mortgage loan.

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Q: What can I expect if the review results show that, no, I was not financially injured as a result of errors, misrepresentations or other deficiencies in the home foreclosure process?

A:
You will receive a letter with the findings of the review. Not every finding will result in compensation or other remedy.

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Q: Where can I receive other status updates?

A:
As the reviews continue, we anticipate general updates as to the progress of the reviews will be available through our toll-free number. Homeowners will receive a letter about the findings of their specific loan once the review is finished. If the review shows an error by the servicer in the foreclosure that resulted in financial injury, the servicer will be required to compensate the homeowner for financial injury, which may involve a payment or other remedy and a correction of the loan record.

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Q: What is the status of my review?

A:
All requests are currently in process. If you have submitted a Request for Review Form and received an acknowledgement letter from the Independent Review Administrator, you have completed the necessary steps to request the review.

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Q: When can I expect to receive a notification of whether I was financially harmed?

A:
The Independent Foreclosure Review is proceeding. Although we anticipate homeowners will begin receiving the results of their review as early as the fourth quarter of this year, each review has many steps and takes time – so it may be several more months before the results of your particular file review are available. You will be notified as soon as possible.

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Q: If it is determined that I am financially harmed, and I receive a cash payment, are there any tax implications?

A:
Any payments made to you if errors in your foreclosure are found may be reported to the IRS and may have tax implications. Consult a tax advisor to discuss those implications.

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Q: Will findings be available prior to the December 31st deadline?

A:
We anticipate homeowners will begin receiving the results of their review as early as the fourth quarter of this year. However, each review has many steps and takes time, so it may be several more months before the results of your particular file review are available. You will be notified as soon as possible.

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Q: Who is Rust Consulting?

A:
Rust Consulting serves as the central administrator of the Independent Foreclosure Review. Rust was selected for this role by all participating servicers as a recognized industry leader with experience in the administration of similar efforts. The firm has been hired to notify customers of the review and to receive Request for Review Forms. Rust will also respond to questions about the Independent Foreclosure Review.

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Q: How do I know this is legitimate?

A:

For additional information, visit the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Prevent Loan Scams, or the Loan Scam Alert websites. You can go to these websites and search for the Independent Foreclosure Review.

The Independent Foreclosure Review is free. Beware of anyone who asks you to pay a fee in exchange for a service to complete the Request for Review Form.

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Q: What can I expect if the review results show that, yes, I was financially injured?

A:
You will receive a letter with the findings of the review and information about possible compensation or other remedy. Each individual situation will determine the compensation or remedy that might be received.

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Q: How are military servicemembers affected by the Independent Foreclosure Review?

A:
Servicers are required to include in the review all loans covered by the Servicemembers Civil Relief Act that meet the qualifying criteria. However, servicemembers or co-borrowers may also request a review through this process. Financial injury may have occurred if the foreclosure action occurred on a mortgage that was obtained before active duty military service began and while on active duty, or within 9 months after the active duty ended.

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Q: If I request an Independent Foreclosure Review, is there a cost?

A:
No, there is no cost. The Independent Foreclosure Review is a free program. But beware of anyone who asks you to pay a fee in exchange for a service to complete the Request for Review Form.

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Q: Will my credit be hurt by the review?

A:

The Independent Foreclosure Review is a free program. Beware of anyone who asks you to pay a fee in exchange for a service to complete the Request for Review Form.

No, the Independent Foreclosure Review will not impact your credit report or any other options you might be pursuing related to your foreclosure.

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Q: How long will the review process take and when can I expect a response?

A:
Because the review process will be a thorough and complete examination of many details and documents, the review could take several months.

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Q: I’m still working with my servicer to prevent a foreclosure sale. Will I still be able to work with them if I participate in the review?

A:
Continue to work with your servicer. Participating in the review will not impact any effort to prevent a foreclosure sale. The Independent Foreclosure Review is not intended to replace current active efforts with your servicer.

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In foreclosure in 2009 or 2010?

You may be eligible for compensation or other remedy.

Not sure if you are eligible?

This Independent Foreclosure Review Eligibility Guide can help you determine if you are a good candidate to submit a Request for Review.

Download the Eligibility Guide

Ready to complete your Request for Review form?

IFR 

Visit IndependentForeclosureReview.com and get started today.

Need a little help completing the Request for Review form?

View or print this helpful guide to reference while you are completing your Independent Foreclosure Review Request for Review Form.

Download the Instructions