Extension of Deadline for Independent Foreclosure Review

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On February 15, the Fed and OCC announced that the deadline for submitting requests for Independent Foreclosure Review has been extended to July 31. Borrowers are eligible to request an Independent Foreclosure Review if: (i) the mortgage loan was serviced by one of the participating mortgage servicers, which include the 14 large servicers subject to the April 2011 enforcement actions; (ii) the mortgage loan was active in the foreclosure process during 2009 or 2010; and (iii) the property securing the mortgage loan is the borrower’s primary residence. Fed Release.

 

Published In: Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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