In April 2013, checks were mailed from the Comptroller of the Currency to borrowers whose homes were in foreclosure and were serviced by 13 banks their affiliates or subsidiaries. The payment ranged from several hundred dollars to $125,000. As of January 2015 more than 3.4 million of these checks had been cashed. The rest of the checks have now expired. Nearly 600,000 of the checks remain outstanding. Replacement checks are being issued.
Borrowers whose mortgages were serviced by one of the 13 servicers that entered into agreements in January 2013 or by GMAC Mortgage should call Rust Consulting, Inc. with questions at 888-952-9105, Monday through Friday between 9:00 a.m. and 8:00 p.m. EST or Saturday between 11:00 a.m. and 4:00 p.m. EST. Borrowers who had a mortgage serviced by EverBank should contact the paying agent for that agreement, Epiq Systems, with questions at 877-819-9754. For more information, vist this press release from the Comptroller of the Currency.