Independent Foreclosure Review Deadline Extended

Posted by Orb Staff on February 15, 2012 No Comments
Categories : Mortgage Servicing

10933_time Independent Foreclosure Review Deadline Extended Homeowners seeking a review of their mortgage foreclosures under the federal banking agencies' Independent Foreclosure Review now have until July 31 to submit their requests.

The Office of the Comptroller of the Currency (OCC) and the Federal Reserve System have extended their original deadline by an additional three months. The review is designed for borrowers who believe they suffered financial injury as a result of errors in foreclosure actions on their homes in 2009 or 2010 by one of the 14 servicers covered by the agencies' enforcement actions issued in April 2011.

According to the agencies, the deadline extension will provide ‘more time to increase awareness of how eligible people may request a review through the Independent Foreclosure Review process and to encourage the broadest participation possible.’

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