Keep the Information Flowing
Small contributions go a long way. Your donation to Consumer Action, a 501 (c)(3) nonprofit, nonpartisan organization, can help us cover the cost of research, writing, and translation of our materials. To keep our services free for those who need them. Select an amount to give.
Released: May 09, 2013
Borrowers shorted on mortgage relief checks
Source: Danielle Douglas, Washington Post (Free Registration)
The Federal Reserve said Wednesday that about 96,000 homeowners who are entitled to a cut of a $3.6 billion settlement with mortgage servicers accused of faulty and fraudulent foreclosures received less than they were owed.
Rust Consulting, a firm hired to distribute the checks, mistakenly sent borrowers whose mortgages were serviced by Goldman Sachs and Morgan Stanley the wrong amounts, but will issue new checks to make up the difference around May 17. The Fed said it became aware of the problem on Friday.
Read Full Article: Borrowers shorted on mortgage relief checks
Quick Menu
Support Consumer Action
Join Our Email List
Consumer Help Desk
- Help Desk
- Submit Your Complaints
- Presente su queja
- Frequently Asked Questions
- Links to Consumer Resources
- Consumer Service Guide (CSG)
- Alerts
- Consumer Booknotes