May 23, 2012
Federal Reserve Board announces new video explaining how borrowers can apply for a free, independent foreclosure file review
For immediate release
The Federal Reserve Board on Wednesday announced the availability of a new video that explains how borrowers who believe they were financially harmed during the mortgage foreclosure process in 2009 and 2010 can apply for a free, independent foreclosure file review.
The brief announcement reminds borrowers that, as part of the enforcement actions taken in April 2011 by federal banking regulatory agencies, they may be eligible to receive compensation if the independent review finds evidence of direct financial injury due to servicer error. Borrowers are eligible for a review if their primary residence was in the foreclosure process in 2009 or 2010 and their mortgage loan servicer is participating in the Independent Foreclosure Review. The list of participating servicers can be found at: www.IndependentForeclosureReview.com or at www.federalreserve.gov/consumerinfo/independent-foreclosure-review.htm
The deadline to request a foreclosure review is July 31, 2012. For more information, borrowers may call 888-952-9105 or visit www.IndependentForeclosureReview.com .
For media inquiries, call 202-452-2955.