EverBank to Pay Borrowers $37 Million Over Foreclosure Missteps

EverBank Financial Corp. (EVER) will make $37 million in cash payments to past mortgage borrowers to settle claims it improperly handled foreclosures, the Office of the Comptroller of the Currency said in a statement.

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. (JPM), Bank of America Corp. and Ally Financial Inc. (ALLY)’s 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, Florida-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.

To contact the reporter on this story: Jesse Hamilton in Washington at

To contact the editor responsible for this story: Maura Reynolds at

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.