The Independent Foreclosure Review payout continues, with 2.4 million checks valued at $2.2 billion already deposited or cashed by homeowners who experienced foreclosures back in 2009 and 2010.
The Office of the Comptroller of Currency says 3.9 million checks totaling $3.4 billion have been mailed to eligible borrowers.
The payout is close to reaching its goal of distributing $3.6 billion in payments to borrowers impacted by shoddy foreclosure practices right after the housing crisis hit. The funds are part of the $9.3 billion settlement struck to replace the independent foreclosure review earlier this year.
The OCC expects to have all of the payments mailed by the end of July.