On August 23, 2013, EverBank agreed to pay approximately $37 million to more than 32,000 borrowers whose mortgages serviced by EverBank were in any stage of foreclosure in 2009 or 2010. These payments are part of an expedited payment agreement entered into between EverBank and the US Office of the Comptroller of the Currency (OCC). The agreement resolves an Independent Foreclosure Review (IFR) that began in 2011 of EverBank’s foreclosure practices.
Eligible borrowers will receive a payment whether or not they previously submitted an IFR form and whether or not the loan was reviewed as part of the IFR.
Cash payments by EverBank to eligible borrowers are expected to range from $1,050 to $125,000 plus equity in some cases. Borrowers give up no rights by accepting a payment, and will not be asked to waive any rights to private legal action as a condition for accepting payment.
Preparation to issue payments is currently underway and it is anticipated that checks will be mailed in the first half of 2014. Eligible borrowers do not have to do anything to receive a payment. A check will be mailed to you automatically.
The following documents have additional information about the Expedited Payment Agreement with Everbank:
- OCC Announces EverBank Agrees to Pay $37 Million to Customers, $6.3 Million to Housing Assistance Groups
- OCC EverBank Independent Foreclosure Review Payment Agreement Frequently Asked Questions
- Regulators Release Amended Consent Orders for EverBank
- OCC Amendment to April 13, 2011 Consent Order
As additional information becomes available, it will be posted here. If you have a specific question, you may send a letter or email to:
EverBank IFR Expedited Payment Agreement
PO Box 2730
Portland, OR 97208-2730
Watch out for Scams
Beware of anyone who asks you to pay a fee for a foreclosure review service or to receive a payment related to the Independent Foreclosure Review.