EverBank to Pay $37 Million in Foreclosure Settlement With U.S. Govt.

August 26, 2013
Jacksonville Business Journal (FL)  
mortgage lending news

Jacksonville, Fla.-based EverBank has agreed to a roughly $37 million cash settlement to compensate more than 32,000 borrowers that it foreclosed on in 2009 and 2010. Qualifying borrowers will receive between $1,050 and $125,000 each. On top of the consumer payouts, EverBank will direct $6.3 million to organizations that assist low- and moderate-income people with housing issues.

The pact with the Office of the Comptroller of the Currency was reached after EverBank was delivered a cease-and-desist order for unsafe and unsound mortgage servicing practices and foreclosure processing. It effectively terminates the independent foreclosure review process that was mandated under that order.
Web Link
- May Require Free Registration

Abstract News © Copyright 2008-2013 INFORMATION, INC.
Powered by Information, Inc.

Stay Updated

Join the fight against predatory lending. Enter your e-mail to sign up for breaking news, action alerts, and CRL's original research.

   Please leave this field empty

Help Us End Predatory Lending

Predatory lending destroys family wealth, and preys on our most vulnerable communities. You can help us end abusive lending practices by donating to CRL, or by sharing our work with others.