The Independent Foreclosure Review settlement reached in January between financial regulators and key mortgage servicers continued this week with another stash of checks shipped in the mail.
The Office of the Comptroller of Currency noted that 2.6 million people have cashed or deposited $2.3 billion in settlement checks over the course of the past month.
To date, 3.9 million checks have been mailed to homeowners impacted by foreclosures that occurred in 2009 and 2010.
The total value of mailed checks is well over $3.4 billion, just short of the $3.6 billion in total planned payments.
The checks are tied to settlements entered into by 13 key mortgage servicers: Aurora, Bank of America, Citibank, Goldman Sachs, HSBC, JPMorgan Chase, MetLife Bank, Morgan Stanley, PNC, Sovereign, SunTrust, U.S. Bank, and Wells Fargo.