REFUNDS being Issued by Rust Consulting?? for the OCC

[tobee43]

i thought that could be the reason as well floridagail, but according to this one person she said it all has to with the reasoning of why. again, who knows. she also said our check was not yet sent. i actually spoke this two people. the first one from rust just did the written scrip but the other person was handling chase "people" only.

colorfull was told aug, i was told july, so its sounds like none of us is really getting solid info.

[TRfromillino]

surprised no one has mentioned that some of the checks actually bounced for awhile, because they forgot to put funds in the account...lol

[justbroke]

Bounced for a while? They just went out last Friday (4/12/2013). The earliest anyone could cash it would be Monday. I'm confused and I don't know what to believe. On one of my Foreclosure Websites, they indicated that a person in Michigan complained, but talked about a check for $635.34 dated Sept. 5th bouncing. No check was for an uneven amount. That anecdotal incident was apparently some other $27 million dollar settlement... not this one.

From what I read is that they are not bouncing, but not being "accepted" at some banks. The banks are trying to verify them and this issue has been corrected.

Still waiting for mine!

[TRfromillino]

I dunno IBroke...just saw this on MSN.... maybe it doesn't even affect you folks...

http://money.msn.com/saving-money-tips/post.aspx?post=212af8ba-2594-40c6-a3ef-00ab500674c6

[rjsdsu]

just cashed the rust check for 1k. no idea why that amount. happy as a clam!

[goon]

As to the issues with cashing some of the checks early on, here is a press release from the Board of Governors of the Federal Reserve System (I have been checking them and the OCC site daily cause I am alittle OCD that way)

http://www.federalreserve.gov/newsevents/press/bcreg/20130417a.htm

Interestingly for the first 3 categories in this settlement it is possible to receive a check for an uneven amount, gotta look at the fine (thou those 3 categories cover a very small group of people)

http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20130409a1.pdf

The table contains only standard payout amounts; it does not
include amounts for lost equity, which borrowers in the first and third categories may receive in addition to the standard
payout amounts, or the payments calculated on a case-by-case basis in the second category.

*Total amount received by borrower in the first and third categories listed here may differ from amount shown because of offsets resulting
from other legal settlements.
**Servicemembers who were charged interest rates higher than limits allowed by the SCRA Section 527 will receive payments of $300 or
the amount overcharged and paid by the borrower, whichever is greater.

[sh1035]

Yes I had no reason for my 2k, almost tossed it as junk mail! I am in Florida with Chase. I did actually send in the form to request and audit and the only real issue was 2 years of trying for a mod.

[tobee43]

with us, we never returned the info. i couldn't see the loss so i thought how can i figure out what should be paid out on the claim. we were chase in nj, although we now live in florida.

although, after further research, shoot we were under quite of a few of the categories ranging from payments starting at 300 bucks to 25k. so i guess we just have to sit tight and wait it out.

[justbroke]

just cashed the rust check for 1k. no idea why that amount. happy as a clam!

It should have indicated the reason on the letter enclosed with the check. Looking at the payout categorizations, $1,000 appears to be for a person who had their modification denied (or rescinded) and did not submit their mortgage for review to Rust Consulting.

Still awaiting my check!

[spidge]

I have yet to see much on how this payment will be treated in a BK13. All I have seen so far is that the trustees will be encouraged not to go after it, but they will be allowed to deal with it as they see fit. Likely it will be based on the amount.

[drowning123]

Whoopee!!! I got a Rust check for $1,000 today!!!

[tradinglife]

Got my check today for $300, since I was not expecting anything it was a pleasant suprise.

[drowning123]

I know. I was so surprised myself.

[freeme0215]

400 from rust today

[drowning123]

400 from rust today

Nice.