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Consumer Protection Division
(208) 334-2424 or
Toll-free at (800) 432-3545

Media Contact: Bob Cooper
(208) 334-4112

Date: December 8, 2011

Attorney General notifies Idahoans of Independent Foreclosure Reviews

(Boise) - The Office of the Comptroller of the Currency (OCC) recently began its independent foreclosure review, and borrowers have until April 30, 2012, to submit their requests for restitution, Attorney General Lawrence Wasden said.  Borrowers should have already received letters from their servicers explaining how to request a review of their case.

“Idaho has consistently ranked within the top ten states with the highest foreclosure rate, and homeowners continue to file complaints with my office about their loan servicers’ business practices,” Attorney General Wasden said.  “The OCC’s look back process is a genuine opportunity for Idahoans to obtain remediation from the banks if the borrower suffered financial injury because the servicer made mistakes during the foreclosure process.”

The independent reviews are required by the OCC’s April 2011 enforcement actions against 14 mortgage servicers.  Letters to eligible borrowers were sent out on November 1.  However, if borrowers’ addresses have changed or an eligible borrower has not received a letter, borrowers who believe they may qualify for the program are encouraged to visit www.IndependentForeclosureReview.com for more information about the review and claim process.  Assistance with requesting a review and answers to questions about the process are available at 1-888-952-9105, Monday through Friday, from 8 a.m. to 10 p.m. (ET) and Saturday from 8 a.m. to 5 p.m. (ET).

The Attorney General’s Office also reminds homeowners that on September 1, 2011, a new law became effective requiring servicers to notify borrowers in default of their right to request a loan modification review.  Information about the law, Idaho’s foreclosure process, and how to request assistance from the Attorney General’s housing specialist is available on the Attorney General’s website at www.ag.idaho.gov or by calling 208-334-2424.

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