With the agreement, EverBank joins 14 other loan servicers that struck similar deals with the OCC and Federal Reserve this year, including JPMorgan Chase & Co., Bank of America Corp. and Ally Financial Inc.ís GMAC Mortgage, which settled last month. EverBank will send payments ranging from $1,050 to $125,000 to 32,000 eligible borrowers, the OCC said in the statement today.
Settlements reached since January with 15 of the largest U.S. mortgage servicers, totaling more than $3.8 billion, will close the books on complaints over mishandled foreclosures after the 2008 credit crisis. The deal with Jacksonville, Fla.-based EverBank ends a process the company agreed to in 2011 to have individual foreclosures reviewed for harm.
The company also agreed to pay about $6.3 million to groups that provide help with affordable-housing and foreclosure assistance.