REFUNDS being Issued by Rust Consulting?? for the OCC

[tobee43]

well, i didn't respond or fill out any paper work. that was the first i rec'd months ago full paperwork. i called them it was legit, but we weren't going to bother. now this postcard that came this week included a claim number, so i called again and she looked it up by the last 4 of our ss and said yes, you will be rec'ing a check, they said that can't say how much, i said i didn't ask, do i need any more paper work, she said no...how could she do that when i never anything, ever back to them ? again i'll take my two bucks my luck it will be 2 cents LOL!

[justbroke]

I received the Rust Consulting "Independent Foreclosure Review" letter, but not the postcard. I did confirm that I am amongst the "eligible" recipients of the settlement. I'm sure I'll get $0.01 for the trouble so I'm not expecting much.

[sbatman]

I don't remember getting a card, probably thought it was junk, but I called Rust # that was under another post to see if we were listed and if they had our correct address. And yes to both and that we'll get a minimum of $840. If that's all it is, fine, but more would be great, especially since we owed less on the mortgage than the value assigned to it by the bank.

[goon]

And here is finally something clear, they are independent... From the US Trustee site

http://www.justice.gov/ust/eo/public_affairs/consumer_info/nms/docs/341_One_Pager.pdf

This paper is specifically talking about the "National Mortgage Settlement", it talks all about the "National Mortgage Settlement", then goes on to say

You may also be entitled to relief through the foreclosure review process being conducted by the Office of the
Comptroller of the Currency (the “OCC”). The settlement does not impact your right to participate in this process. For
more information about that process, please visit www.independentforeclosurereview.com or call 1-888-952-9105.

(this doc was written prior to the separate "Independent Foreclosure Review" settlement)

[goon]

also looks like the National mortgage settlement is a smaller group anyway as it only includes 5 servicers as opposed to the 13 involved in the Independent Foreclosure Review settlement.

[goon]

Goon, I did not read it up that way, but I will take a closer look. I thought that all prior efforts have been tossed with this new settlement becoming the easier way out for the banks and better ensuring people get something out of it as soon as possible. Remember that individuals can proceed with their own court related efforts.

So doing a bit more research it is hard to get a clear picture....
As you say it appears that the "Independent Foreclosure Review" has stopped and there is a settlement in regards to that that was reached in January 2013

In January 2013, agreements between 13 mortgage servicers and federal banking regulators were reached that ended the Independent Foreclosure Review for those participating servicers. The Agreement will result in all of the eligible borrowers for those servicers receiving a payment under the Agreement. The Agreement includes the following servicers and their affiliated mortgage companies.

But the "National Mortgage Settlement" predates that by almost a year having been reached in February 2012

In February 2012, 49 state attorneys general and the federal government announced a historic joint state-federal settlement with the country’s five largest mortgage servicers:

from what I can find it looks like the Independent Foreclosure Review ( and associated settlement) was spearheaded by the OCC while the "National Mortgage Settlement" was spearheaded by the state Attorney Generals.

When I got my claim form for the "National Mortgage Settlement" in September of 2012, it also had separate information for the "Independent Foreclosure Review" which was still going on at that point ( the settlement for it had not been reached yet) In my case I wouldn't have gotten anything from the Independent Foreclosure Review, but will from the National Mortgage Settlement. That being said with the terms on the settlement for the "Review" I may actually get something out of it as well.

of course none of this is straight forward to figure out so I could be mistaken somewhere along the way...

[spidge]

Goon, I did not read it up that way, but I will take a closer look. I thought that all prior efforts have been tossed with this new settlement becoming the easier way out for the banks and better ensuring people get something out of it as soon as possible. Remember that individuals can proceed with their own court related efforts.

[Toby629]

I just know that our home lost two thirds of it's value. We had it appraised in 2002 and still have the appraisal papers. The market value at the time of our foreclosure, was lower than what we paid for it in 1992. The realtor that was handling the sale of our home for the bank told us that the bank will sell our house for next to nothing. What an absolute waste. Our mortgage was so underwater. And the solution that could have helped so many stay in their homes by reducing the mortgage balance to reflect the actual market value, a real solution to help people keep their homes, wouldn't even be considered by these institutions. Look at what Tobee is going through five years later and still a cluster fark!

[goon]

Sorry for any confusion, I just re-wrote my above post after I realized that Rust Consulting is handling both the "Independent Foreclosure Review" and the "National Mortgage Settlement" (I originally thought Rust was only handling the National Mortgage Settlement). I just re-wrote it to clarify that you could be getting postcards from Rust for either piece.

[goon]

Ok, so there are 2 different things going on here, both of which you could be getting post cards from Rust...

First the National Mortgage Settlement. To be included in this you would have had to have been sent a claim form for the national mortgage settlement and returned it, it had a few simple checkbox type questions. The checks for this will be an EVEN distribution of the allocated $1.5 billion between all approved claims ( the minimum you will receive is $840 but it has been determined that it will be MORE than that as not everyone that could have submitted a claim did submit one, the exact amount has not been determined yet ).

http://nationalmortgagesettlement.com/

Second is the "Independent Foreclosure Review". This is separate from the National Mortgage Settlement. To be included in this you would have had to have sent a "request for review" form prior to the end of last year. Based on this review you could receive anywhere from hundreds to $125k depending on the particulars of your situation (out of a total pool of $3.3 Billion in cash payments and $5.2 billion in Mortgage Assistance).

https://independentforeclosurereview.com/

[tobee43]

what we are going on is 5 years. we would told by different attys one to walk the other stay and not pay. we just couldn't with good conscience stay, nor afford is as our main reason to take the NOD which an summons should have arrived before seeing this is judcial sat
i know one atty said why the heck did leave. well because we just could take the stress and when we started the HAMP which was a brand new program at the time.

so they do all these summons and says fight it our get out basically. i know we were in judicial state. i know many that stayed. it a way while it was a blessing to some degree, i really resent them threating the foreclosure with no intent to foreclose.

so what i'm wondering since i am one of millions if that will help with a suit against chase for us. the admission again, just from what saw was beteen 2009-2010, although i'm not certain.


slidge i really do wonder how the going to go about dong that. i know chase took assignment of the mortgage but was the server but purchased the mortgage at al later time. i know it doesn' mean anything to the fact they didn't file it. it's legal in nj, but what i'm wondering is how can any town, city or state come after the ower when the banks made they believe they were going to get thrown at, quicker times in some states i know. but the bottom line to us, is if we didn't have all these situation hit us at once, we might have stayed. we simply were never given the option

what is curious is how are the RUST people going to decide who gets what we lost over or are they, (as of today $250k) it went down again i think it was a few days ago it was 200k underwater. because we left and no longer were sub pumping due to the heavy rains and stone, i think they will have to knock it down. it better not be at my expense, shoot, like i said the state, county and township can move for a forecloser IF chase would just stop paying the taxes.

spidge what impact would you think would happen or how do you think it effect the outcome?

[spidge]

Keep in mind that there are categories that include the bank slap on the hand (penalty) plus the equity lost by the home owner. So these seem like they may vary wildly.

[Toby629]

We were shocked when we reread the card like 10 Times! And after calling the number and checking out the websites, then we finally believed we'll be getting something. We have moved on to, just sucks how so many people lost their homes that no amount of money can really compensate for the actual monetary losses and heartache, stress etc. caused by this housing crash. Hi, Tobee good to see you still here too!

[tobee43]

ok the FIRST one that gets the 125k LUNCH is on them in PARIS!!!!! LOL!!!! just can't wait for the shock of all.

[Floridagail]

You got that right, I want the 125K.