Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Everbank Accepts OCC Order To Repay
WASHINGTON (8/26/13)--Everbank Financial has agreed to pay more than $40 million to homeowners and housing assistance groups under the terms of a settlement with the Office of the Comptroller of the Currency (OCC).

The OCC said EverBank was subject to a cease and desist order for unsafe and unsound practices in mortgage servicing and foreclosure processing. According to the OCC, the Jacksonville, Fla., financial firm will pay:
  • Approximately $37 million in cash payments to more than 32,000 eligible mortgage borrowers whose homes were in foreclosure during 2009 and 2010; and
  • $6.3 million to housing assistance groups.
Aggrieved customers are scheduled to receive between $1,050 and $125,000, plus equity in some cases. Borrowers will be contacted by a third party, and will not need to take further action to receive payment.

The housing assistance funds are scheduled to go to U.S. Department of Housing and Urban Development certified groups. Certain tax-exempt organizations that provide affordable housing, foreclosure prevention and/or educational assistance to low- and moderate-income individuals and families will also be eligible for funds, the OCC added.

For the full OCC release, use the resource link.
Other Resources

OCC Release
RSS print
News Now LiveWire
.@BelvoirFederal revamped the checking acct. it offers to active duty military members and achieved 23% growth on the product in 1 mo.
6 hours ago
.@FinancialCmte markup of Reg D Study Act set for Tuesday. CUNA will submit support letter. http://t.co/cDWkZ0Q0x1
10 hours ago
The 54th Western CUNA Management School graduated 89 students on July 25.
10 hours ago
.@CUNA Bank Secrecy Act training to reach 38 Mich. state examiners #NewsNow http://t.co/7HDPgwih8G
12 hours ago
St. Louis treasurer taps #creditunion to serve unbanked #NewsNow http://t.co/lWtcezJOej
7 25 ago