Rust Consulting - People who are in active bankruptcy, no payment received or information.

Iamfiesty

LoanSafe Member
Apr 17, 2013
42
1
8
My original date was 7/15 I called today and it is now 6/28..

I hope it's a big check... I need a car. I drive 160 miles a day for my commute. And I am borrowing cars from people just to get to work!
 

Cols Ohio K

LoanSafe Member
Jun 24, 2013
31
0
0
[h=1]Independent Foreclosure Review Engagement Letters[/h]Below are links to engagement letters submitted by the independent consultants, retained by servicers regulated by the OCC, who will be conducting foreclosure reviews pursuant to the requirements of the April 13, 2011 consent orders. The engagement letters describe how the independent consultants will conduct their file reviews and claims processes to identify borrowers who suffered financial injury as a result of servicer deficiencies identified in the OCC’s consent orders.
Limited proprietary and personal information has been redacted from the engagement letters. Examples of information that has been redacted include, but are not limited to: names, titles and biographies of individuals; proprietary systems information; references to specific bank policy; fees and costs associated with the engagement; and specific descriptions of past work performed by the independent consultants.
Since the acceptance of the engagement letters in September of this year, the independent consultants have further refined and made adjustments to the processes, procedures, and methodologies outlined in the engagement letters in consultation with OCC supervision staff. Therefore, in many cases the review processes being implemented may differ in some respects from those described in the engagement letters because of subsequent coordination with the OCC. In particular, there were a number of changes made to integrated claims process to ensure a single, uniform process among the servicers.
Pursuant to 12 C.F.R. § 4.12(c), the disclosure of the engagement letters at the OCC’s election has no precedential significance.

 

Iamfiesty

LoanSafe Member
Apr 17, 2013
42
1
8
[h=1]Independent Foreclosure Review Engagement Letters[/h]Below are links to engagement letters submitted by the independent consultants, retained by servicers regulated by the OCC, who will be conducting foreclosure reviews pursuant to the requirements of the April 13, 2011 consent orders. The engagement letters describe how the independent consultants will conduct their file reviews and claims processes to identify borrowers who suffered financial injury as a result of servicer deficiencies identified in the OCC’s consent orders.
Limited proprietary and personal information has been redacted from the engagement letters. Examples of information that has been redacted include, but are not limited to: names, titles and biographies of individuals; proprietary systems information; references to specific bank policy; fees and costs associated with the engagement; and specific descriptions of past work performed by the independent consultants.
Since the acceptance of the engagement letters in September of this year, the independent consultants have further refined and made adjustments to the processes, procedures, and methodologies outlined in the engagement letters in consultation with OCC supervision staff. Therefore, in many cases the review processes being implemented may differ in some respects from those described in the engagement letters because of subsequent coordination with the OCC. In particular, there were a number of changes made to integrated claims process to ensure a single, uniform process among the servicers.
Pursuant to 12 C.F.R. § 4.12(c), the disclosure of the engagement letters at the OCC’s election has no precedential significance.


[*]Aurora Bank: Allonhill, LLC (PDF, 4 MB)
[*]Bank of America: Promontory Financial Group, LLC (PDF, 3.1 MB)
[*]CitiBank: PricewaterhouseCoopers, LLP (PDF, 3 MB)
[*]EverBank: Clayton Services, LLC (PDF, 6 MB)
[*]HSBC: Ernst & Young, LLP (PDF, 2 MB)
[*]JPMorgan Chase: Deloitte & Touche, LLP (PDF, 6.1 MB)
[*]MetLife Bank: Ernst & Young, LLP (PDF, 3.2 MB)
[*]OneWest: Navigant Consulting, Inc. (PDF, 3.1 MB)
[*]PNC: Promontory Financial Group, LLC (PDF, 1.8 MB)
[*]Sovereign: Treliant Risk Advisors, LLC (PDF, 1.6 MB)
[*]US Bank: PricewaterhouseCoopers, LLP (PDF, 2.4 MB)
[*]Wells Fargo: Promontory Financial Group, LLC (PDF, 4.9 MB)
The BofA link doesn't work...
 

TeaTyme

LoanSafe Member
Apr 29, 2013
46
1
0
I would like to know why some checks are being mailed at the last second. I phoned and there's still NO distribution date. It just irritates me to not be given a distribution date. BANKS are releasing the amounts and dates of these payments. I'm almost sure of this!
 

noplacetogo

LoanSafe Member
May 16, 2013
32
0
0
I would like to know why some checks are being mailed at the last second. I phoned and there's still NO distribution date. It just irritates me to not be given a distribution date. BANKS are releasing the amounts and dates of these payments. I'm almost sure of this!
You are not alone, i also have no date. I did email Jason and he said that it should be 7/15 and he will be able to see it by the middle of next week.
 

vhtheone

LoanSafe Member
May 20, 2013
60
0
0
some checks were mailed out on 6/30/2013 some were re-issued some are actulal checks so check your mail. i was told july 15th for my check by tier 2 support. emailed jason for confirmation... did some reading looks like chapter 13 is the second highest paying catagory according to framwork and some articles the federal regulators came down hard on banks who did wrongdoings to those in chapter 13 bankruptcy.. so good luck bk folks and to all who is left in this final wave....2 more weeks......
 

sandra l anderson

LoanSafe Member
Apr 19, 2013
108
0
0
some checks were mailed out on 6/30/2013 some were re-issued some are actulal checks so check your mail. i was told july 15th for my check by tier 2 support. emailed jason for confirmation... did some reading looks like chapter 13 is the second highest paying catagory according to framwork and some articles the federal regulators came down hard on banks who did wrongdoings to those in chapter 13 bankruptcy.. so good luck bk folks and to all who is left in this final wave....2 more weeks......
Can you tell me where you read that at. I found this article written 7 days ago by USA Today that 2/3 of the people received $300 and fewer than 1200 got 125,000". The rest fell into one of 10 other categories for compensation, mostly in the $400 to $7,500 range Foreclosure settlement a billion-dollar bust. I am in BK13 but I am not really expecting more than $300.00
 

vhtheone

LoanSafe Member
May 20, 2013
60
0
0
Can you tell me where you read that at. I found this article written 7 days ago by USA Today that 2/3 of the people received $300 and fewer than 1200 got 125,000". The rest fell into one of 10 other categories for compensation, mostly in the $400 to $7,500 range Foreclosure settlement a billion-dollar bust. I am in BK13 but I am not really expecting more than $300.00

Read the Article from Forbes contribitor Francine Mckenna dated 4-1-2013 JP Morgan Chase Haunted by Foreclosure Review and more and tell me what you think...... Also go to the Federal Reserve website and it clearly states all the payout catagories and you will be able to see chapter 13 pays from 3,750-62,500....to over 28,000 borrowers...... that is not much out of 4.2 million but a decent payout if one falls into that catagory.. thats were we have no control where we land is where we land almost like a lottery.... good luck.....
 
Last edited:

sandra l anderson

LoanSafe Member
Apr 19, 2013
108
0
0
Read the Article from Forbes contribitor Francine Mckenna dated 4-1-2013 JP Morgan Chase Haunted by Foreclosure Review and more and tell me what you think...... Also go to the Federal Reserve website and it clearly states all the payout catagories and you will be able to see chapter 13 pays from 3,750-62,500....to over 28,000 borrowers...... that is not much out of 4.2 million but a decent payout if one falls into that catagory.. thats were we have no control where we land is where we land almost like a lottery.... good luck.....
I am with BOA and in chapter 13. I tried to do a modification but the took me out and sent me back my payment because I had to call for the payoff for the trustee. I was told on Thursday that my check was due to be mailed on June 28th so should be receiving it in the next couple of days will post amount as I said I don't expect more than $300.00
 

noplacetogo

LoanSafe Member
May 16, 2013
32
0
0
Read the Article from Forbes contribitor Francine Mckenna dated 4-1-2013 JP Morgan Chase Haunted by Foreclosure Review and more and tell me what you think...... Also go to the Federal Reserve website and it clearly states all the payout catagories and you will be able to see chapter 13 pays from 3,750-62,500....to over 28,000 borrowers...... that is not much out of 4.2 million but a decent payout if one falls into that catagory.. thats were we have no control where we land is where we land almost like a lottery.... good luck.....
I read that article , Chase had to add money to the settlement. I am with Chase and I am still without a payment date. Called on tuesday 6/25 and they still could not give me a date.
 

homevsbank

LoanSafe Member
May 3, 2013
50
0
0
So it looks like these payments are not going to be that big. Someone on the Rust forum said they got their check today and it is only $500. Why the long wait for these small payments? I am very discouraged by this news.
 

CityGurl

LoanSafe Member
Apr 23, 2013
61
1
0
So it looks like these payments are not going to be that big. Someone on the Rust forum said they got their check today and it is only $500. Why the long wait for these small payments? I am very discouraged by this news.
Everyone who has posted so far on the other forum received checks under 600.00. :sad:
 

homevsbank

LoanSafe Member
May 3, 2013
50
0
0
Everyone who has posted so far on the other forum received checks under 600.00. :sad:
I know, so disappointing. I guess the banks win again! Why the long wait? It does not make any sense. No modifications and no big payments, we are screwed all the way around on this deal. UGH!
I am in California so I don't expect the check until either tomorrow or Weds.
 

CityGurl

LoanSafe Member
Apr 23, 2013
61
1
0
I know, so disappointing. I guess the banks win again! Why the long wait? It does not make any sense. No modifications and no big payments, we are screwed all the way around on this deal. UGH!
I am in California so I don't expect the check until either tomorrow or Weds.
I know very disappointing. I'm in Minnesota - so if I don't get mine today, I'm assuming that it will be in the 15th mailing. I'm not even going to dare to think about a big check.
 

TnGal

LoanSafe Member
Jun 3, 2013
16
0
0
Someone else on that same forum just posted receiving a 6000 check today and having a friend who got the same. So not all are small.
 

homevsbank

LoanSafe Member
May 3, 2013
50
0
0
Someone else on that same forum just posted receiving a 6000 check today and having a friend who got the same. So not all are small.
I saw that, so it give me hope. I have another day of anticipation because I did not get a check today. I think tomorrow or Weds.
 

homevsbank

LoanSafe Member
May 3, 2013
50
0
0
Just as I suspected received a check today for $300 from BOA. I didn't expect anything more than that
I Think that is what I will get also. What state are you in? I think our situations a similar, Countrywide, BofA, BK13, still in home? Right? What a bummer! At least it is over now.