Voices of the Harmed Borrowers on Rust Consulting

Checking the queues, I keep noticing Rust harmed borrowers returning to comment on the threads for the three posts Yves did on Rust and the OCC (here, here, and here). It’s almost like they have no other place to tell their stories! Incredible though that may seem.

So I thought I would collect all their comments into a single post, most importantly to show the harmed borrowers that there was a place where they were heard, and to serve as a resource for decision makers,* and possibly to serve as the basis for further analysis at NC. I would also like to ask any Rust employees (temporary or permanent) who encounter this post to read the whole thing, and to reflect.

Herewith, the voices of the Rust harmed borrrowers, post by post. There’s a little bit of commentary at the end.

2013-04-19 (More Foreclosure Review Fiasco: Paying Agent Rust Consulting Sends Letters to Different Addresses Than on Borrower Letters, Refuses to Make Corrections)

2little2late (2013-04-19)

My first encounter with the OCC was, as anyone who ever confronted them on bank fraud, simply unbelievable. I sent them a letter five or six years ago detailing the wildly abusive behavior on the part of B of A, only to receive a letter back from the OCC stating that they had forwarded the letter to B of A. End of story, case closed. That’s how this so-called regulator handled regulation way back when, which dovetails exactly with their present form of non-regulation. Derelicts. Banker whores.

I was one of the earliest responders to the IFR, delivering a well ordered packet of information complete with documentation detailing undeniable, systematic fraud. I went all in on this review, feeling like I had nothing to lose, and every chance at backing them into an indefensible corner. All I received from the OCC over a two year period was notice, sent on two occasions, that my file was being reviewed. I ended up losing the five year battle with CW/BofA as any pro se litigant eventually will, as there’s simply no defense against a system setup to protect the banks at any cost.

I called Rust a couple of months ago to question them on the status of my review, and to ask them why I hadn’t received the “postcard”. They still had my address listed as the house that I lost to a fraudulent eviction process, even though Camper’s World, Home Depot, and every single bank’s credit card solicitation department had been able to find me at my new address. I also had a valid change of address at my local post office attached to the foreclosed property.

The guy on the phone took down my new address, assuring me that everything was OK. Two months went by, and the checks were mailed out according to the recent press releases. I called Rust back last week, and got with a lady who confirmed to me that they still had my old address, and she again went through the motions of entering in my new address, unlike others on NC who were told that they needed to do this in writing. This time I asked for written confirmation from Rust to be sent to my new address, confirming what they were telling me in phone conversations, that I was in fact going to be receiving a malfeasance check, and that they in fact had my new address information. She told me that I could rest assured that I was on the list of fund recipients, that they had my address, but that there was no way that they could send me any documentation on any of this. I don’t believe them.

The OCC is guilty of hanging offenses. As Yves intimated, the entire agency should be burned to the ground. Its employees and directors and their families need to be shunned from society for generations. Let them starve, without shelter, like the rest of us.

Dion (2013-04-19)

Yes, I received my wonderful $500.00 check from the independent foreclosure review. I was placed in Hamp in 09. I made 13 payments in their so called trial. The refused to convert me to perm mod. Then put me in foreclosure with David stern and his foreclosure mill. I looked at the brackets and rust claims I am in the approved frame if I did not received any other loan. Which I did not. Okay and what exactly did all of this prove. What’s this $500.00 going to do food for a month…electric bill…what a load of crap and a stupid waste of everyone’s time and money..

rox (2013-04-19)

There full of it….lies. lies and more lies they still have my forclosure address on file from 2009 did not get a letter or postcard but im getting a check. And there sending it to the forclosure address. someone lives there now…they said they will send me a forum to fill out takes 10to14 days but there still sending the check. What a lot of BS

Jill (2013-04-19)

So when are the rest of the checks mailed? I’ve been waiting. I filed complaints with OCC and all those others back in 2010 and got the run around as well. I was told I was not in foreclosure but they auctioned by house 8 days later without me knowing. Then they said my loan would be rescinded. Never happened. They said I had to talk to their attorneys. Yep, BANK OF AMERICA. So now they say checks mailed April 12 thru end of July. They have the money, send it to the people now.

arlene higley (2013-05-04)

Change of address rust consulting maybe they get to keep all the payments that are not delivered. I also tried to change my address. Rust said send letter did that next call to rust we need to send form still have not received after a month. What ever mail they sent is flying around in space. They say they are making attempts not the truth. First Taylor Bean screwed me over requested mod they went bankrupt and BOA took over loan. Requested mod waiting over a year and was denied and ended doing short sale. boa sold the home for 42,500 if they had done a mod I could of afforded the home. Boa received a insurance check for 10,000 for a flood had at the home. I had home inspection before purchasing the home but they failed to tell me the piping was involved in a class action suit and was illegal. Been screwed by everyone no they did not ask me to been over.

ann (2013-04-19)

same here. I’ve been trying to update my address with them for a couple of months. 1st time i was told it was updated, 2d time was told to send in written request, 3rd time told to send written request with explanation, 4th time told they would send me a form. over 2 weeks and still waiting. last week they told me they couldn’t tell me if the form had been mailed or not. what a bunch of incompetent idiots!

marty (2013-04-19)

I contacted the National Mortgage Settlement Administrator and my State Attorney General when I moved, giving both of them my new address.

The AG’s office was the first place I heard of Rust Consulting, when they called me to tell me that they would be the ones handling payments. I do not know if I contacted Rust directly at that point (several months ago), but the recent postcard from Rust informing us that checks were on the way DID come to me new address.

I am assuming my check will as well.

Desiree Finley (2013-04-19)

I need someone to speak to regarding the way Rust Consulting have been treating. I have missed many work hours and actually burned up phone batteries talking to them my longest call being over 70 minutes, I think there needs to be a help line or some way to make these people compensate us for the trouble they put us through. It has actually been worse then the foreclosure the OCC has not been any better. Hell I even called Wells Fargo.
They are REFUSING to give my my check I have given them my proper address and followed procedusers since the beginging of March now that are denying phones I have made they OCC is the black…I want people to ban together and fight for us. Then Lenders have also been scammed. Wells Fargo provided the money to Rust Consulting and because of their fraudulent skip tracing in locating people they are profiting of the interest of OUR money

Melinda (2013-04-20)

Even better – there are THOUSANDS of us out here who never even received an opportunity to file for a review. Apparently Rust is so incompetent that they mail the request for reviews to THE FORECLOSED ADDRESS!! Even though the address has been changed, and I have been out of the house for years now, I received no option to even request a review. Out of the blue I receive a postcard…just a postcard. Now if the postcard could find me with my current address on it, why not the review request? Because they didn’t want people requesting reviews – thats why!! What I would like is an opportunity to request a review, and restitution for the years I have been forced to rent due to the incompetence of the banking industry. I would like my equity, my down payment, my good credit standing, my dignity, my attorney fees, and lastly my peace of mind returned to me. And what I will get? Probably a lousy $500 check. I think the banks might take heed and start to think seriously about what they have done, there are social media sites that are gathering enormous forces of people who have simply had enough. We want what they took back!! Many of us have been shamed into silence by their actions, but no more. There is power in numbers, and we are growing!

NH (2013-04-21)

I work at the post office a woman received a certified check from them for almost 32000.00 not sure what category she fell in but this is the largest check I heard of. I haven’t lived in my house for 4 years but I’m being reported to the credit bureau as late and I’m 50,000 behind I surrendered my house in bankruptcy in 2009 it seems like I should’ve stayed there and just not have paid because I’m still being penalized and now my credit is shot to hell I tried to get a loan for a car and I can’t get one high enough because of my credit score. I don’t even think there is a category which I fall in. Bank of America never foreclosed they have kept this going for four years and my name is still on the house. And now since February I got a letter from select portfolio servicing saying they now own my mortgage and now I have yet another servicer on my credit report reporting me 50,000 late and my score continues to plummet

K Barajas (2013-04-22)

Same case here – sent in the IFR form in Feb 2012 with CURRENT address. However, when I spoke with them a couple of weeks ago, they had my PRIOR address in another state! I was told to send in a forwarding address change to the Post Office even thought I stressed to them that I had not lived in the other state for over 2 years and had provided my correct address on the form submitted. I called the post office and was able to get the address change sent. I was told my check was sent on 4/12; however, to date have not received it. A change of address form from Rust takes 4 weeks or more to get to you and I sit here still waiting for it. This is ridiculous.

Mac (2013-04-22)

I was foreclosed on twice! The first time the judge ruled it out due to robo signing. Then a year later with no notification I was informed the property was foreclosed and a judgment was placed. BOA told me I had to be behind 3 months before I could modify my loan, then because I kept those 3 months of payments in savings, BOA told me because of the funds in savings I didn’t qualify.

After 14 months I had to do a strategic walk away. I wasn’t even the State to fight it. BAO sold the property 7 months later for a profit and the judgement was for part of the legal fees. Not full because they made extra profit on the home.

Today I got a check from Rust for 300.00. All I can say is “I give up” I was fortunate to rebuild my life. I am moving forward and I will never do any business with BOA. And now I do almost 4 million in business annually so it’s their loss! It was 4 years of Hell, but it’s over. Long term, BOA will be the one to suffer. My hearts and prayers go out to the people who have suffered and haven’t been fortunate enoigh to rebuild their lives.

Sharon By Accident (2013-04-22)

For over 4 years I was force into a foreclosure on my home that wasn’t my fault. I tried to explain to my lawyers that I have made all of my payments that I never missed a payment. I might be late a couple time out of a year, but only by one or three days. The lawyers just look at me as If I was lying and that really hurted. I was giving a pre modication, but the bank took that back. I started to cry because I was losing my home with no fault of my own. I refuse to give the bank my home. I Got another lawyer to help me to do another modication.

The bank sent me and my lawyer at lease 6 modication package. They modify my home for $400 a month more than what I was paiding for previous. The lawyer had me to turn that down. He said to me Sharon If only you could fine the proof. That they made a error on your payments when you wasn’t behind on your payment and they was the cause of your home being wrongly filed foreclosure. As I was going to a program last month to help me re-instate my mortgage, and the counselor told me I needed the last 5 years tax returns I said what.

As I was digging and looking for my last five years tax return I came across a statement summery from my bank. It was the year of my Mortgage payments that were credit to my account than later sent back . I read the statement over and over again. I call my lawyer and read the statement to him. My four payments within a year was credited to my account than remove. I found other statements from resent years that had been one or two of the statement summery had been credited to my account than remove. The bank representive said it was a computer error. The computers have been kicking out payments with no fault of the borrow. It also kick borrows out of trail modication. I now have what I have been needing for the past four years. I even have the bank representive name and ID number. I will see them in court.


Bank of America ruined us too! Never will I deal with them again. We requested modification, waited almost a year to get a 200 per month break from a 2400 monthly payment. Our property had halved in value and we were seriously under water. But we struggled on paying them what they wanted to be told we were in foreclosure. After days and days of talking to idiots who couldn’t add up finally one lady recognized that we had made payments that had not been applied to our account and that they had increased our payment due to incorrect interest rate being applied. They foreclosed anyway. Do they seriously expect people to be satisfied with a 300 check?? These incompetent fools have no idea of the heartache, humiliation and despair they have put MILLIONS of good hardworking Americans through!! What have I learnt from this. That I will first and foremost never let a bank take a penny if my hard earned cash in interest again. Cash is king.


I am sick over this. I didn’t miss a single trial payment, and in fact came home to a post it note on the garage saying “You’re foreclosed” 4 days after my last payment was cashed. I thought the taped on note was junk mail to tell you the truth. But according to the loan provider I was foreclosed. How could it be possible? After calling around and getting the run around, I got a hold of someone at Aurora who finally listened to me saying over and over I never missed a payment how can you do this if I didn’t miss a payment. She asked me to hold on to review my file, then as nice as can be, said “I will get this looked into ASAP and call you tomorrow”. So I get a call and she tells me not to worry a perm mod deal will be sent the next day. The next day there was a fed-ex deal on my door step. I called the lady back and asked about all the added fee’s and “extra’s” on the perm mod deal? She said “You can keep your house or not”. After living through all that and to be told (via the BS check) that my paperwork was over looked again. Sicking


we are going to talk to our lawyer and see if we can take legal action against them. We lost everything, and they only want to pay out $300.00? Whay happened to the $125,000?


I just got off the phone, after 30 minutes with good old Rusty Ass consulting, they said no your check did not go out in batch two but it is going out Friday April 26 in batch three. I wonder if their is signifigance to the OCC order on their website of who gets paid what, the bottom third of the page are the next to nothing pay outs. Yeah, that’s probably right after I gave thousands of dollars to CHASE to reinstate and after they received the funds there was no one to speak to, they would not call back and the MF’ers filed foreclosure. Would like to hear ffrom someone, anyone that received funds and how much.


My husband and I also got screwed by Bank of America when our mtg co countrywide went bankrupt. Rust consulting is a complete waste of time to call they give out NO helpful info. I spoke to customer service yesterday a girl named valarie employee #2505 she was reading from a script of course her boss Jim as well so I have been leaving messages with the entire “leadership team” starting with the #1 liar David holland 612-359-2054, the CFO Paul Vogel 612-359-2064 and the three vp’s Daniel marotto 415-500-4597, Eric hudgens 612-359-2041 and Matthew potter. Lets hold them responsible for the empty promises their CEO and buddy David holland is making.


Woohoo, I got a big fat consolation prize of 500.00. I was in the 6000.00 category but apparently good old Rust Consulting decided to keep the other 5500.00 for themselves. Afterall, who is there to check up on them and make sure the payouts are being made correctly? FYI for all of us, go to your local court house and file a suit for an ANSWER TO INTERROGATORIES against the Registered Agent for Rust Consulting. I am going to do this to shake things up. You don’t need a lawyer and it will be a nominal filing fee. If enough people do this, it will get their attention and cost them $$$$$ to defend themselves. I just want answers and hold them accountable.


I am so glad to see that I’m not alone. I received a postcard in the mail in October of last year. I continued checking online for changes, and when I saw the news that checks would be mailed on April 12, I called Rust Consulting… For some reason, they decided to send the check to a mailing address I was using over a year and a half ago… which was crazy because the postcard was sent to my current address. The representatives at Rust Consulting refuse to change my address. I even told them that they sent the check to the wrong address and they are telling me that there is nothing I can do but wait on the “change of address” form. It’s been almost 3 weeks, and no form. This is almost as annoying as what I experienced with the mortgage servicer prior to my foreclosure :-\



Desiree Finley

Believe it or not I have had the address issues with Rust Consulting since February. I have followed 3 procedures to change may address. Then they again sent me a change of address form to my home I live in now after the denied every having it. The original post card was sent to an address that does not exist today I checked with the other Settlement National Mortgage. This is also being handled by Rust Consulting…..Guess what they had the right address for that issue. I also contacted Wells Fargo several weeks ago…..Rust has not returned any of my calls, the OCC has not returned any of my calls……But guess who called me today listened to the rest of my dreaded story (Corporate Offices) Wells Fargo calling to make sure I got my pay out. They are less then pleased at the way the OCC and Rust Consulting are handling these payouts. They were not responsible for providing the addresses….Rust was to do skip traces. The pleasant woman from Wells Fargo had kept all my information took detailed notes 3 weeks ago. I never in a million years thought that I would ever hear from them again. Well, she did call is sending a letter to me, Rust and the Occ demanding to know why people that are going through efficient measures to see that they receive. She stated that there was an agreement made on behalf of Wells Fargo for the consumers to be awarded the monies and obviously the measures are not being taken to see to it we are notified and paid. I can tell you right now that Wells Fargo is not to happy. And I believe that the other banks that were involved are in the same boat…..Rust Consulting is being paid by the OCC and collecting interest off our money…my theory and the woman at Wells Fargos. Oh, by the way my check did get mailed to the address that does not exist and is sitting in my file. I will be receiving a replacement in July that is when those go out. The woman from Wells Fargo said that I will be getting my money way before then and is also having me speak to some other people about this nightmare.


I actually received an okay amount of 6K


I lost my home and over 50,000 in equity although I worked with the mortgage company and they assured me foreclosure would not happen. I provided documentation of wrongdoings in every step of the process to IFR, and for what? None of it was reviewed or read. Rust Consulting is the same as every other entity I have dealt with during this process. They have hired individuals with script answers that know ABSOLUTELY NOTHING about what’s going on and you can speak to no one who does. Not only do you have to deal with losing your home and never being able to get another one at this stage of my life, but having to deal with incompetent individuals is almost too much. I have written my representative and President Obama but truly doubt that I will receive a response there either.


I just received a check for $400.00 from Rust Consulting. I have no idea who they are or how I got in on this agreement. I assumed it was bogus, but maybe not…? I would like to know how they figure whom is owed what amount.

My home was put into foreclosure in April 2010 and this February 2013, a judge dismissed it at a non-jury trial. I was out of work for two years and tried to keep up with the payments, but wasn’t able to. I went through my savings and 401K…it’s all gone now. So will be my home that I’d just bought in 2007, gutted, and then sunk my savings into to restore. When I met with the mortgage representative for PNC BANK in August 2012, they finally flat out admitted that the investors who owned my property refused to negotiate; they would not reduce principal or interest, and would only take 100% of back payments up front, or financed over 24 months on top of my regular monthly payment. Impossible. Unfortunately, after the economy tanked, I’m not making the money I was 5 years ago. The rep suggested that I ride it out as long as I can in my home, take what I want out before it’s sold, and possibly buy another short sale property in the meantime. *shrug* Not sure what else to do…


Received check BOA was for 800 should of been for 6000 was denied mod from BOA but since they made the decision we are at their mercy. Where is the justice from the government. Commit a crime and be the judge of your own punishment. of course they have had plenty of time to shred documents. All started with the Taylor Bean mess. Was never advised of the National settlement did not receive anything in the mail.


I received a minute check (dated 4/19/2013) but cannot cash it because my Father passed in 2013 and even after submitting his death certificate, it is still made out to him. I repeatedly attempted to email Rust with no reply so, I called them and was told they would send me a form, which I needed to return with another copy of his death certificate and also the check. I have not received anything yet. It’s not for a lot of money but every little bit helps!

Ariel Jones

I received a check from Rust at my old business address. An address I haven’t used in over 10 years. An address that is completely different from the forwarding address at the post office. An address that is completely different from my REAL address that WF has been mailing to for the last 2 years. Thankfully I’m friends with the woman who owns the maildrop store or I would have never received it!

2013-04-29 (OCC Misses Another Conflict of Interest: Foreclosure Review Outreach/Payment Processor Rust Consulting Owned By Residential Real Estate Player Apollo, Being Sold to VC Arm of Citigroup)

Debbie (2013-04-29)

I am so angry that when you call Rust to ask them specific questions, all they respond to you with is a scripted reply. Why don’t they have a website that we can go into and see when our checks are scheduled to be mailed and how much the checks are. This Rust Consulting is running such a sloppy job, and their customer service is horrible. Its crazy to be expecting a check but they can NOT or WILL NOT tell us WHEN the check will be mailed and how much the check is for. For their recording and their staff to keep saying they will not tell us how much our checks are over the phone is STUPID! Why won’t they communicate with us, if its our money why can’t they tell us how much the check is for. What’s the BIG secret????

Betty (2013-04-29)

Its a secret because when you finally get your check you will be pissed. We got ours an it was $500. what a joke

Jamaylaboss (2013-04-29)

Well I got my check today, and yes I was pissed!!!! $500 for what I have been through should be more like $500,000.

I have been fighting with Countrywide, Bank of America, New Century Mortgage, and SPS Servicing now. Are you ready for this, I have been fighting since Aug. 2006!!!!!! Yes, 2006.

I have had Forensic Audits, Court Arbitration, Bankruptcy, Judgements, Produce The Note, Attorney Generals, Lawyers,

and now Rust Consulting. Same old Same old. Rob the nation, and cry about paying more taxes. We all know what is going on here. The working stiff gets stiffed again.

Lorraine (2013-04-29)

I received mt check fron Rusty today – $2,000. Admittedly, it was $1,700 more than I was expecting based on the comments I’ve read from others. According to the remediation framework, the 2K is to compensate me for B of A’s failure to respond to my modifcation requests. I wonder which one I’m being compensated for, since I requested and sent in docs numerous times and never received a response from the banksters. I wish all the people who received insultingly small payouts could throw the money in a class action pot. I wonder how a private citizen can obtain the actual results of their own ‘review’, if any, and use them to sue the bank

Laura (2013-04-29)

I received my check today a whole $500.00, and Wells Fargo foreclosed on me and my husband by accident and even sold our house. We found out by someone coming to the door telling us we had 2 months to move. Our attorney got our house back in 4 days. The thing is I got $500.00 but paid $2500.00 to get my house back. I had also done a request for modification and even was under BK-7. Everything was so messed up for so long and we paid and paid over & over. Now with only getting $500.00 I think it maybe attorney time again, just because this has me very up set. We do have our house and we having been paying on time for 2 1/2 years now. I don’t understand the category list at all. We fell under several areas. I would love to see my review.

Sharon By Accident (2013-04-30)

Hi, Laure,

I received my check today for 2K I’am thankful for the money, but I was file foreclosure on by seriver error. My payments was deliverated route else where other then my monthly payments. The mortgage servicer blame it on a computer error. I had to go to the court house and stop the foreclosure on my home. I later find out that my mortgage payments has been re’route to escrow. Almost a 12k escrow account. I’m trying to find a lawyer that handle these types of foreclosure errors. According to my check category I was place in fail to modify loan. It should’ve been default of servicer.

Ron Ricci (2013-04-30)



I am very frustrated with the Independent Foreclosure Review. After about a year and a half of waiting I received my check for $500. I was insulted and very mad. I was expecting to be on the high end of the table. My home was sold when I was in fact 1 payment ahead. I didn’t find out I was ahead a payment until it was sold at auction. When I called Aurora to find out what had happened they told me that I was a payment ahead and nothing would have happened.However that was not true it sold. If you have any suggestions on how to proceed please call me. No one ever contacted me from the review. I waited over two years for $500

JIMBO (2013-04-20)

well, got my check yesterday for $6000.00, wrong classification, I paid those bastards at CHASE over $6K for reinstatement/ modification, settlement should of been $50k because they never did the modification, however the OCC list shows $6k for modification denied, it was never denied just CHASE did nothing and then foreclosed.

LORI (2013-04-30)

can we get a lawyer to sue rust consulting in aq class action lawsuit! this is ridiculous I have done everything they ask to update my address and now they just deleted my mailing address all together!!! they laugh at me hang up on me and leave me on hold..they promise to ESCALATE my problem but that’s BS! someone has to be able to help us, someone has to be over them!

Stephen Harness (2013-05-01)

Well I got my big check for $400.00 Today. Wells Fargo Stole my house, sold it to someone else for 80 k more than I owed and then they send me $400. WHAT A BUNCH OF CROOKS. I AM GOING TO BITE THE BULLIT, HIRE A LAWER AND SUE THEM!!!

Family Ascua (2013-05-01)

We also paid more than 10 years of our home, $900 dollars per month, with an interest of 7.85% percent. Wells Fargo took our home and sold it to someone else for 80K. Now, we received a check for $2,000. What do we have to do? We should all band together and sue them all!! The government, rust consulting and the banks, but we all have to unite, all of us who were duped and go out and protest, for our rights!! It’s a misery how little they pay for how tremendous they scam us out of. We lost our homes, what else do we have to lose. What they have done is an insult to all of us. It’s time they paid their dues!

Sucker (2013-05-02)

I got my check today!!! I paid $200,000 in payments between 2007 when I purchased and 2009 when I joined Hamp. I gave HAMP $18,000 in 6 payments + $6,000 “good faith” to qualify (this was arranged by my government HUD counselor) while they were secretly foreclosing.

I even made a $3,000 payment after the foreclosure date.

Check: $2,000
not even interest on the money they stole.
They could have given one of the HAMP payments back.

I wish they would have given me enough to hire representation.

Another 15 months go by in yet another scam:
Independent of morality & accountability

wendy stephens (2013-05-07)

I have yet to get a check. I have called numorous times to Rust Consulting. They don”t have any information for me. My question is. Why hold the money until July. Makes no sense at all. Banks still get off scott free. Ugh

Chase (2013-05-15)

I got a postcard from Rust in March that said I would receive a check in 4-8 weeks or something requesting additional information. I’ve received neither, yet they tell me I will definitely be receiving a check, but probably not until mid-July. Why have so many people still not gotten their checks and why do they have to wait? They wouldn’t be receiving such a backlash from at least some people if they would have sent out the correct timeframe on the initial postcard. It looks like something’s up.

2013-05-09 (More Foreclosure Settlement Fiascoes: Rust Consulting Underpays Some Harmed Borrowers)

bittersweet (2013-05-09)

What a weird experience to receive a check in the mail for my foreclosure. I did not claim malfeasance, but the check was VERY welcome. (I been earning about 1/8 of my prior yearly income, since the financial collapse in 2008.)

Was it a mistake for me to even be included in this payout? I feel like hiding in case Rust tries to claw it back. What category did I fall under? Why did I receive a relatively large check?

This morning, I finally found the OCC chart that shows the payout amounts.


My foreclosure was initiated when I was in bankruptcy. According to the chart, I should receive $3,700.

Instead, I received a check from Rust for $3000. What happened to the other $700? So, I am grateful, but confused.

They must have paid me according to some other category. I have to conclude that the actual payout categories were applied randomly. If they audit Rust consulting, am I going to have to write a check back to HSBC?

Cindi (2013-05-09)

I too was in Bankruptcy when Wells Fargo Initiated foreclosure. I recieved $500.00 from Rust and I also filed for a review of my loan.

I did the trial Modification made all my payments on time for 10 months , not the three months that was the original agreement.

They denied my Modification 2 times before they finally approved it BUT my loan that I had had for 11 years was now again a 30 year loan and I owed 25K more than I borrowed in the beginning. The math just isn’t there. It was very frustrating to believe that Wells Fargo may finally have to pay for what they did to so many, to open the envelope and see $500.00. And the service men and women that lost their homes Seriously??? That really gets me and many others. Just plain wrong!

bittersweet (2013-05-09)

Well Cindi, I will jump in.

It is a crime in itself that you received so small a check. As I said, their classifications must have been totally random!

You really need to contact your Federal Representatives, the OCC, Rust and anyone else you can think of, and demand your payment according to the OCC chart!

And I for one would like to hear what they tell you!


i have not received anything from rust not even a post card they keep ol lying

Rick Hauk

tried calling your firm 3 times today with no responce back on my forecloser check I got in the mail for $1,000 reference number 1201996260. I do not know how you came up with $1,000 when I purchased my home January 2008 for a price of $525,000. I put $110,000 down on this home and with working in the auto business for 21 years the auto business took a hard hit later that year and then I was getting a divorced. I had a mortgage through citibank who assured me my remod was done, I made my monthly agrred payments on time for 9 months, not the 3 months they said would be needed. Long story shory they foreclosed my home, sold the house for $450,000 and poceted the $45,000 in equity and citi bank did not pay the 2nd mortgage off. Here I am 2 years later still paying a second mortgage every month because citi bank kept the profit of the home, and your company wants me to take a $1,000? I spent $40,000 fixing the home up with new windows, roof, stucco and made it my dream home. Now i am stuck with a 2nd mortgage, credit issues due to my forecloser. I cannot even get a replie back from your company.

Richard Hauk

Sean A


Your story reads exactly like mine….wife,2nd mortgage,equity loss,payment schedule was setup,private aviation instead of auto….except my house was $120k and they sent me $600…WOOHOO

francie (2013-05-11)

House value now is 2012 is 60k,owe 151k due to all of the attorney’s fees that were added to this loan. In 2009 after going into foreclosure, paying Saxon 5000 and working with an attorney to get the modification, Saxon agreed on a payment with taxes included for $700.00, the next month when the statement came it was for $1400.00 and we were back to going into foreclosure again. During 2009 t from through April 2011 I was unemployed. Started calling the State of Ohio Attorney’s general office and sent the documents that I requested when they contacted me when they started the investigation and working with my Congressman. Finally in late 2011 we were able to finally get a loan modification. We received a check for $300. After following the chart and they said Saxon loans would receive more, I have spent more than the 300 in time and money from attorney’s fees and time and that includes lost sleep and other issues that went with this

Karen M (2013-05-14)

Who can we contact about this situation or who might be able to help?

Here’s the story: My son and his then-wife bought a condo here in California. Subsequently they were divorced. He stayed in the condo but lost it in a Wells Fargo foreclosure action while he was working on a short-sale. She now lives in Louisiana. My son is here in California. He has been unemployed for over 2 years.

About 2 weeks ago he received a $6000 check from the Independent Foreclosure Review process – the check came from Rust. It is made payable to my son and his ex-wife. They want to split the check 50/50.

Here’s the immediate problem:

1) His bank will not let him deposit the check as it’s payable to both of them and his account is not a joint account with her.

2) He spoke to Rust and asked if they could issue 2 checks, 1/2 to her, 1/2 to him – and he would send the check he has back to them. They say no.

3) He has been told the only way they can cash this check is for either she comes to Calif, they open a joint bank account, deposit the check & wait for it to clear, and then cash it. Or he goes to Louisiana and they follow the same process. Neither one of them are in a financial position to do this.

4) The Fed Reserve Office of Consumer Complaints says there’s nothing they can do and to call Rust. He has called Rust several times. They won’t do anything.

5) When he applied for the Independent Foreclosure Review he says the application did not ask anything about his marital status. If it had, this whole mess would have been avoided.

There must be thousands and maybe even hundreds of thousands of people in this same situation – he can’t be the only divorced person trying to cash one of these checks. I feel as though it has been done this way intentionally so that the checks won’t/can’t be cashed. What if he didn’t know where she is or vice versa?

Thank you for any thoughts you might have on this mess

sharon (2013-05-14)

my husband left the state..leaveing me with house i couldnt pay for.thats why i had forecloser..but i have check with his name on it so i cant even try ro cash .i really could use 300.but most of u lost alot more then i did,im sorry for u

cheryl vialpando (2013-05-15)

I received $600.00. I owed $72,000.00 on my home. It was sold out from under me for $32,000.00. What a joke all of this is… I too was expecting so much more for THERE mistake. Now it sounds like we all are going to get screwed again on this so called national mortgage settlement. (I sent my reply and got a answer last year.)

I found out last week that Rusk is apart of citi bank. All the banks are in on it. The OCC is paid by the banks. The banks are paying Rusk. It’s all one big circle….

* * *

I myself am not religious, and I see the Bible as a great work of literature. That said, it seems to me that the iniquity here — the sheer wickedness — is of Biblical proportions. And so I’ll quote Psalm 64 (English Standard Version):

To the choirmaster. A Psalm of David.

1 Hear my voice, O God, in my complaint;
preserve my life from dread of the enemy.

2 Hide me from the secret plots of the wicked,
from the throng of evildoers,

3 who whet their tongues like swords,
who aim bitter words like arrows,

4 shooting from ambush at the blameless,
shooting at him suddenly and without fear.

5 They hold fast to their evil purpose;
they talk of laying snares secretly,
thinking, “Who can see them?”

6 They search out injustice,
saying, “We have accomplished a diligent search.”
For the inward mind and heart of a man are deep!

7 But God shoots his arrow at them;
they are wounded suddenly.

8 They are brought to ruin, with their own tongues turned against them;
all who see them will wag their heads.

9 Then all mankind fears;
they tell what God has brought about
and ponder what he has done.

10 Let the righteous one rejoice in the Lord
and take refuge in him!
Let all the upright in heart exult!

I picked the ESV because I liked the translation of verse 6:

6 They search out injustice,
saying, “We have accomplished a diligent search.”
For the inward mind and heart of a man are deep!

Here the Psalmist, in my reading, is double-tongued, like all poets. I imagine one of the harmed borrowers finally, after an age on hold, getting to speak to a representative. The harmed borrower believes that the Rust rep has “accomplished a diligent search” for “injustice,” and tried to rectify it; meanwhile, the Rust rep has “accomplished a diligent search” for “injustice” and committed it.

But not all Rust reps, surely? You’d have to have a heart of stone not to be moved by these stories. Surely there’s at least one Rust rep who’s willing to contact Naked Capitalism (in strict confidence) and make amends by telling us what was going on? Especially since this wicked system was created by the suits “laying snares secretly” to capture and cripple caller and rep alike, and all for immense profits neither will share?

NOTE * Readers, you might consider forwarding this post to your Congress critter, and ask them what they plan to do about these gross injustices. If anything.

NOTE I would also like to thank commenters 2little2late, Ariel Jones, Becky, Betty, Chase, Cindi, Dabz, Debbie, Desiree Finley, Dgtal, Dion, Family Ascua, ILOSTEVRYTHING, JIMBO, Jamaylaboss, Jill, Jimbo, K Barajas, Karen M, LORI, Laura, Lorraine, Mac, Mandy, Melinda, Mitzi, NH, Natalie, Rick Hauk, Ron Ricci, Sandy, Sean A, Sharon By Accident, Stephen Harness, Sucker, Susan, Victor, ann, arlene, arlene higley, bittersweet, cheryl vialpando, francie, marty, rocky, rox, sharon, trailblazer, and wendy stephens for leaving comments on their experience with Rust Consulting at NC. I hope I didn’t miss anybody.

UPDATE Note on method: These comments aren’t authenticated, the way that Yves authenticated the whistleblowers that she interviewed on BoA and Promontory. All I can say by way of authentication is that I’ve processed a ton of comments in my ten years of daily blogging, and these comments don’t read like trolling, or sock puppetry, or anything but puzzled, outraged, ordinary shlubs like the rest of us trying to make sense of it all.

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About Lambert Strether

Readers, I have had a correspondent characterize my views as realistic cynical. Let me briefly explain them. I believe in universal programs that provide concrete material benefits, especially to the working class. Medicare for All is the prime example, but tuition-free college and a Post Office Bank also fall under this heading. So do a Jobs Guarantee and a Debt Jubilee. Clearly, neither liberal Democrats nor conservative Republicans can deliver on such programs, because the two are different flavors of neoliberalism (“Because markets”). I don’t much care about the “ism” that delivers the benefits, although whichever one does have to put common humanity first, as opposed to markets. Could be a second FDR saving capitalism, democratic socialism leashing and collaring it, or communism razing it. I don’t much care, as long as the benefits are delivered. To me, the key issue — and this is why Medicare for All is always first with me — is the tens of thousands of excess “deaths from despair,” as described by the Case-Deaton study, and other recent studies. That enormous body count makes Medicare for All, at the very least, a moral and strategic imperative. And that level of suffering and organic damage makes the concerns of identity politics — even the worthy fight to help the refugees Bush, Obama, and Clinton’s wars created — bright shiny objects by comparison. Hence my frustration with the news flow — currently in my view the swirling intersection of two, separate Shock Doctrine campaigns, one by the Administration, and the other by out-of-power liberals and their allies in the State and in the press — a news flow that constantly forces me to focus on matters that I regard as of secondary importance to the excess deaths. What kind of political economy is it that halts or even reverses the increases in life expectancy that civilized societies have achieved? I am also very hopeful that the continuing destruction of both party establishments will open the space for voices supporting programs similar to those I have listed; let’s call such voices “the left.” Volatility creates opportunity, especially if the Democrat establishment, which puts markets first and opposes all such programs, isn’t allowed to get back into the saddle. Eyes on the prize! I love the tactical level, and secretly love even the horse race, since I’ve been blogging about it daily for fourteen years, but everything I write has this perspective at the back of it.


  1. LAS

    The old movie classic in which the husband tries to drive his wife mad, ‘Gaslight’ newly remade.

  2. AbyNormal

    i have and will continue to read every commenter living thru this hell. i am one voice of many shouting ‘we are here…you are not alone’.

    Our lives begin to end the day we become silent about things that matter. MLK (exercised thanks to Naked Capitalism)

  3. Thomas

    I defaulted on my loan in Dec 2008. At that time I wrote to the servicer’s BOA that I would like to hand over the keys in a civil manner to avoid late fees or other problems. Since that time I have been foreclosed on by two “straw banks” using three fraudulent assignments. In the current foreclosure our new servicer’s Vericrest Financial (substitute Plaintiff) claims to be the note/mortgage holder. For the past fourteen months I have been attempting to negotiate a short sale (as an exit strategy) through the servicer’s who states that the “Investor” or owner of the mortgage is Freddie Mac. They can be whoever they want to be. Now, I understand I am being charged well over $80,000 for late fees. But wait. I recently received a check as compensation for their delays and fraud for $600.00. What,s my problem?

    1. Jagger

      I lived in New Orleans when Katrina hit. House flooded, everything ruined, city ruined. So I get a letter that somebody was successfully sued for failure of the levees or something. I was awarded $20. Ummmm. So how much of the award was alloted to the lawyers and administrators–3.5 million. Ummmmm.


      If you get justice on this earth, you either went out and got it yourself or were very lucky. And if there is no afterlife with some form of real justice, just count yourself out of luck. It is law of the jungle as long as you are on this earth.

  4. JCC

    These stories are painful, so painful that I just sent the link to this article to the White House contact mail and Holder’s contact email asking “Is anyone in your office aware of any of this” and requesting an answer from both.

    I’ll bet a day’s pay with anyone that I won’t hear a thing. I just hope it does not get me placed on a terrorist watch list.

    1. NotTimothyGeithner

      At this point, you would be better served contacting legislators and demanding Holder’s ousting. Obama has no sense of empathy or shame. Obama is about Obama, but he can’t deal with people of sufficient status standing up to him. He will fold if enough people with perceived standing tell him no or what he needs to do in a public manner.

      *Also,* calling their offices produces better results.

      1. Lambert Strether Post author

        I agree that legislators are the ones to contact. Also perhaps Letters to the Editor. (Local governments lost a ton of money to MERS, after all, so anything about the foreclosure crisis should be of intersest to him.)

      2. just me

        No empathy or shame — that’s part of the clinical definition of psychopath, just like corporations. From the documentary The Corporation:


        Personality Diagnostic Checklist
        World Health Organization ICD-10
        Manual of Mental Disorders DSM-IV
        – Callous unconcern for the feelings of others
        – Incapacity to maintain enduring relationships
        – Reckless disregard for the safety of others
        – Deceitfulness: repeated lying and conning others for profit
        – Incapacity to experience guilt
        – Failure to conform to social norms with respect to lawful behaviors

  5. Unknown


    I got a call this morning from the press secretary for the AG office about the video I sent to all the AG offices. Office of the Controller, Government Accountability office and then some. There is a hearing/meeting with Rust Executives..Parks and Holland. They are asking why Rust cannot provide “us” with answers and why they are referring callers back to AG offices when Rust is the only source of accurate information as the administrator. I gave them permission to use my name just in case there is any kind of retaliation by Rust in delaying my payment for going after them. Does sit on the back of my mind that these people are capable of doing anything to get their way.
    I was so fricking happy to read your posting after I got the call. There were some very nasty postings on youtube about the video, we assume it was Rust Consulting people. YouTube promptly removed and blocked the posters.
    More than 500 people have viewed the video and every AG office of every state was sent the link. God…I pray we have opened some eyes and answers come with a big fat check for all of us!
    Thank you, thank you and thank you to everyone for getting us out there. We have been so humbled by our experiences and loss, so I hope in the end we “show them” enough is enough and we are not going to “take it anymore”.
    I am working on another video to take place after the meeting to see if anything has changed with their call center. I think we have to keep on top of them no matter the outcome of this hearing/meeting.
    Hugs to all of you!

      1. Unknown


        This is a new video with the same old script. I made it to show the first call was not some poor misguided Rust employee misstating information.
        I have also sent the video to the AG offices to show this is going on day in and day out and unless they ask some very direct answers we will all be left in dark settling for crumbs.
        Rust Consulting needs to be held accountable and I for one am sick and tired of the Banks having control over our destiny. They control Rust…no doubt about it! AG offices in the dark as is the Banking Committee. I hope Senator Warren gives them hell!
        Please feel free to pass it on, post it wherever you can!
        Like the picture in the video…kind of how I picture their executives lol


  6. Start Here

    Further, many people I know don’t need a “check” and have tried to avoid having their lives degraded by a constant concern over money for every damn waking minute of their existence. The treadmill needs to be burned to the ground.
    Folks need a bathroom, mattress, refrigerator, running water, musical instrument or two, dignity, human rights, civil liberties and so forth.

  7. allcoppedout

    The ‘Rust experience’ actually read like those I’m researching of victims’ experience with various agencies in recent UK sex grooming cases – typical being that of a mother saying she went everywhere to get help and everywhere the door was shut in her face. Deep corruption in our bureaucracy (often called customer services these days)is hardly surprising. It’s so common what is amazing is how little one can do confronted with it. Most of the work I’ve found concerns damage limitation for the perpetrators and claptrap like ‘learning lessons’. Frankly, I now think bureaucrats need the real threat of jail time for their cruelty in fobbing people off. We have a process called Judicial Review here – typical of English jurisprudence in that it provides an answer that no one can afford!

  8. JEHR

    The BofA should be disbanded for its incompetence. Rust Consulting should be vaporized. This is what happens when banks and their consultants are fraudulently bailed out by the government. It will continue until all the big banks disappear, go kaput, end in limbo, become a heap of trash. It cannot be soon enough!

    1. Jagger

      Should be interesting to see who owns Rust Consulting and see what sort of history they have in terms of political donations and connections.

      1. Yves Smith

        We wrote that up already.


        Rust is owned by the private equity fund, Apollo Management, whose founder Leon Black was out of Drexel. They are far more heavily involved in real estate than any other PE player. And they are BIG political donors.

        Oh, and the parent of Rust is in the process of being told to the venture capital arm of Citigroup.

  9. Susan the other

    The solution is a trust fund to finance the people who are “left out” of the “economy.”

    1. just me

      What about funding legal aid so homeowners could take cases to court? Private right of action is still valid, but who has the resources to fight? See other comment I just left, legal defense lawyers are saying it’s hopeless to try because you can’t match bank resources.

      1. HotFlash

        Don’t see how this will help a lot. The root problem is that the govt is working for the banks, not for us. DOJ is busy prosecuting (persecuting?) whistleblowers and ‘ecoterrorists’ while deciding over and over again that bank fraud is too sensitive to prosecute.

        Tar? Feathers? Boycott, divestment, sanctions? Why is *anyone* still banking with these guys?

  10. just me

    Lambert, thank you for doing this! You know where you could get a ton more? The comments (3,566) to Ben Hallman’s HuffPo’s article “Foreclosure Settlement Checks Significantly Smaller Than Regulators Forecasted: Homeowners”.

    I bookmarked the below exchange at the time and still think it raises interesting points, not the least of which is whether the courts are even possibly useful. I had heard a Mandelman podcast earlier this year with Tom Cox and Matt Weidner, both lawyers fighting foreclosures (Cox is the attorney whose deposition of GMAC’s Jeffrey Stephan discovered robosigning) and both of them sounded like the courts were hopeless, your best chance is to negotiate with banks. Which I thought sucks beyond words.

    The podcast is here: http://mandelman.ml-implode.com/2013/02/scam-prevention-podcast-what-isnt-working-for-homeowners-facing-foreclosure-today/

    The HuffPo exchange is here: http://www.huffingtonpost.com/social/ailemahtims/foreclosure-settlement-checks_n_3193377_249722533.html

    I had a 3 month trial mod, which wasn’t approved or denied in the 3 months. I paid on time as a agreed under the trial mod for 9 months complying with everything Chase required to process my modification. After 9 months, and likely because I began sending return receipt requested letters to Jaime Dimon, I got a “special forbearance” from Chase demanding a $2,000 principal payment and increasing my payments by $400.

    In a conference call with a HUD group helping me, and a loss mitigation rep from Chase I was told by Chase that she didn’t know why I received the forbearance and I shouldn’t sign it. She said there were documents missing in my file that I should send, and Chase would continue to process my mod. I did explaining I had been instructed not to sign the forbearance. I immediately received an NOD and was told by a Chase Rep that I couldn’t re-apply for a modification. My home sold in short sale, which was only made possible at the last minute by Darryl Issa’s office. I contacted him after Chase demanded $2000 to close the short sale.

    I made a 20% down payment of $100,000 and income- qualified for the home loan when I bought.

    I lost $100,000 equity, $80,000 in savings and IRA trying to save my home and I received a check for $2000.

    16 Trillion To Banksters Per GAO Audit
    These modifications were FRAUD IN THE INDUCEMENT. The banksters had no intention of granting you a modification. I sued my servicer for fraud in the inducement and they had to settle (for QUITE a bit of money), but I realize not everyone has the option to sue their servicer, though I really wish more people would.

    Tell me how you did that?

    16 Trillion To Banksters Per GAO Audit
    I hired an attorney & filed suit in federal court. It will cost you a lot (24K or more) and the banksterscum will stall your case forever and not cooperate with discovery and be allowed to do so by the judge, so you’ve got to decide if the benefits outweigh the risks. Its a matter of waiting these effing banksters out and you have to be aware that these f’ers have the full backstopping of government funds. So in essence your tax dollars go to the awholes to defend their frauds. Is it really worth it? I think so – to stand up and fight back. Monetarily? I don’t think I received enough in compensation for these bastages stealing my house.

    Thank you.

    That’s the only thing I bookmarked, but I was reading so much more. So there’s a project, compile and grok. Also of note, it sounds like cats530 had some success in court, but part of the podcast was Andelman saying he would hear anecdotal stories of success but then could get no evidence. Cox said he was on all the list serves and would know if something was working judicially, and he also could get no real news that something was.

  11. bo

    This was submitted via email by Neil Garfield@LivingLies.com. Thank you Neil.
    The latest 56-page complaint against BOA, proving the invaluable and much appreciated public service research and reporting by Yves and Lambert, David Dayen, and all others, regarding HAMP Fraud by the criminal cartel known as servicers.This evidence alone should have placed All of us who submitted paperwork for mods and the IFR in a high category.Please read the whole thing, althoug a layperson’s summary by one of our legal eagles on this site will be grately appreciated. Sorry, could not link. Please see if you can link it from site.

    1. just me



      BOA, Urban Lending Sued in Qui Tam by WHistleblower: They never intended to modify the loans
      Posted on May 16, 2013 by Neil Garfield

      Just a quick note as follow up to my article this morning. Read this qui tam complaint and see how it corroborates the facts and theories presented on this blog. Note the following quote: ” these mechanisms of fraud were and are interconnected and directly observed by Relator Mackler, who worked with various BOA executives while at Urban Lending Solutions beginning in April 2010. BOA outsources various HAMP obligations to Urban. Upon witnessing the unlawful, fraudulent practices listed above, among others, Mackler brought his concerns to the highest levels of Urban and to executives at Bank of America. Eventually, his objections to these practices led to his termination on March 17, 2011.”

      Read, plagiarize This, and use it: http://www.documentcloud.org/documents/324428-greg-mackler-complaint.html


      Earlier blog post was quite long: https://livinglies.wordpress.com/2013/05/16/estoppel-when-the-bank-tells-you-to-stop-making-payments/

      1. craazyman

        Each of youz is a monadnock in yer own way, and we’re glad to have yuz stickin’ up like that.

  12. monday1929

    Rust consulting 888-952-9105
    direct # for one review team 877-465-0428.
    Be polite, you are talking to low level future victims. But refer them to this article.
    It undermines the c-suite when employees know the evil they are working for.
    Oh, and they seemed very interested when I told them I was receiving multiple checks every day and wanted them stopped.

    1. skippy

      Might they be informed of the videos out there on the robo-signing schmucks… informed its not a good look…

      Skippy… Mom[?], Dad[?], what did you do post GFC? Well kids… I/we assisted in bulldozing my fellow Americans into a pit… but hay… I’m not a job creator… that’s for the savvy… not wage slaves.. we were born to serve… the Creators…

  13. Mr. Jack M. Hoff

    This post is the single most revelant post to whats been going on since 2007. I truly feel for those getting the snotty end of the stick, but I don’t know what can be done to help. Calling and emailing senators and congressmen does ziltch. As far as I can see, if I were to lose everything, I’d make damned sure the banks didn’t gain anything. You’ll have to put your own imagination to work here.

    1. sd

      Unfortunately, injustice is the kindle of revolutions. Entirely avoidable were it not for greed.

  14. Lisa

    My home was unlawfully foreclosed on in Oct. 2009 by Saxon/ Morgan Stanley. The home was valued at $600,000 and Saxon ramrodded the house through foreclosure by failing and refusing to provide the required documentation in order to obtain a 401K hardship loan. Secondly,Failing and refusing to provie a loan modification and failing to notify all legal owners of the property of their plan to foreclose no matter what. Currently Saxon has been sold by Morgan Stanley and is in the process of being dismantled. The executives that I dealt with during this fiasco have all been fired (Yeah!). Morgan Stanley sent me a whopping check for $300. This is an outrage! I urge all harmed consumers to keep up the fight and have your voices heard. Continue to complaint to the FRB, OCC, your State Atty General and the lender. Forget complaing to RUST they are totally inept and have hired unqualified people to man their phones. It is disgusting. This is not over. We must keep putting pressure on the government officials who allowed this travesty to occur.

  15. washunate

    The inability/unwillingness of the judicial system to take meaningful action is one of the real sore points and long term consequences I see out of this.

    Prior to the housing bubble, the breakdown in the rule of law had been largely contained within the drug war and national security state – terrible if you personally were caught up in it, but not broadly socially destabilizing outside of low-income majority black zip codes.

    But now it’s exploded far beyond that. I am really curious whether the lawyer class in our country will seek to reclaim the basic concept of rule of law, or whether they will allow themselves to be made irrelevant.

  16. Unknown

    This Videos is made by Chris

    Phone Video to Mr. David Holland
    Executive Vice President
    Rust Consulting, Inc.


    Call to Dave Holland, Executive of Rust Consulting. I called him because he testified in April. This is his voice mail. I also left a message with Dawn Zimmer his secretary. I want a call from him, not the call center. We shall see!

    Wednesday, April 17, 2013
    10:00 AM – 12:00 PM
    538 Dirksen Senate Office Building
    [view archive webcast]
    will meet in OPEN SESSION to conduct a hearing entitled “Helping Homeowners Harmed by Foreclosures: Ensuring Accountability and Transparency in Foreclosure Reviews, Part II”. The witnesses will be: Mr. Lawrance L. Evans, Director, Financial Markets and Community Investment, U.S. Government Accountability Office; and Mr. Joseph A. Smith, Jr., Monitor of the National Mortgage Settlement. Additional witnesses may be added at a later date.
    Panel 1
    Mr. Lawrance L. Evans [view testimony]
    Director, Financial Markets and Community Investment
    U.S. government Accountability Office
    Mr. Joseph A. Smith, Jr. [view testimony]
    Monitor of the National Mortgage Settlement
    Office of Mortgage Settlement Oversight
    Mr. David Holland [view testimony]
    Executive Vice President
    Rust Consulting, Inc.
    Ms. Deborah Goldberg [view testimony]
    Special Project Director
    National Fair Housing Alliance

  17. marty

    And it gets worse – The information on the official NMS website is apparently the responsibility of…..no one.

    This is the e-mail correspondence I had with the Settlement Administrator (Rust Consulting) this morning:

    Sent by me:

    I also would like to confirm something that has been somewhat confusing.

    Is the information posted on the National Mortgage Settlement website posted by and the responsibility of Rust Consulting?

    This language appears at the bottom of: http://nationalmortgagesettlement.com/

    “This Web site was developed and is hosted and maintained by the Attorneys General on the Executive Committee that negotiated the settlement. For questions regarding the settlement—signed by 49 states—please contact your state Attorney General”

    However, I got this link ( https://nationalmortgagesettlementclaim.com/) in an e-mail from my AG office this morning, indicating that the website is:

    This site is hosted and maintained by the National Mortgage Settlement Administrator. The settlement is supervised by the Attorneys General on the Executive Committee that negotiated the settlement.”

    Also, the Privacy Policy says: “This Privacy Policy applies to the “Settlement Website”, which has been established by Rust Consulting, Inc. (the “Settlement Administrator”) to provide information about, and to receive and process claims for, the Settlement.”

    MY QUESTION: When I go the “Settlement Website” and see information about the check issuance timeframe and also note that it has been changed and then reverted to its previous language – WHO MADE THAT CHANGE? Rust Consulting or someone else?

    You should also be aware that some Rust Consulting call center employees are telling claimants to contact their State Attorney General Offices, yet in every case I am aware of, State AG offices refer all questions about this portion of the settlement back to Rust as the Administrator.

    What is your view of the Rust v. AG office for information? Is not Rust the official source of information on this settlement? Does Rust have any reason to send people to their State AG for information about the issuance of checks?

    I just received this response:

    “No, Rust Consulting does not maintain the information on the settlement website.

    Settlement Administrator”

  18. bodybuilder

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  19. llangford

    We are still waiting., We received a W9 request in the mail recently. Returned it certified mail . We fought CITI for over 3 years to save our home from foreclosure when we had NOT MISSED A PAYMENT! Seems CITI decided to create an esscrow acct and keep it secret for 5 years and then hit us with the bill…..Our mortgage IS NOT escrowed, we pay our own taxes and insurance! Took us three years of foreclosure letters, newspaper notices, attorney fees , court and filing fees, etc before CITI offered us a settlement. They are now reporting our mortgage as modified on credit report, at no time did we request or apply for modification and NOTHING about our mortgage has changed! We want to refinance , but with CITI still messing with our credit report it has been impossible. SO its back to court for us again,,,,and all this because we pay our mortgage on time??? I dont get it. We have a lot of equity in our home and I cant help but think these are the homes these greedy banks go after!

  20. Tammie

    I received a check for 300.00 in the mail today.. What a joke.
    I was with Saxon Mortgage. Let me tell you my story.
    I refinanced my home in 2005 . The company I signed my paper work through was a real estate law firm..so they said, closed their doors after we signed our papers. Any ways 1st mistake was they had my ex husband on the paper work, then wanted my current husband to sign his name then assured use they would reprint the papers and have my spouse sign when he picked up the check. Didn’t happen. My husband is not on my deed so they thought it didn’t matter and initialed the area he signed several times.Once Saxon took over mortgage I began looking at my paper work closely. They had all my information wrong. The income appraisal etc,. They tried to for close on my house in 2009 Bank of Mellon.. ok I was with Nova star,, court house recorded Nova star and it is still recorded as nova star. Ok fast forward. I borrowed money to stop the foreclosure and made all my payments on time. I then called regarding trying to lower my payments since my spouse and I divorced. I was told to stop making payments so I could qualify for a modification.. OK so I did .. I qualified so I thought. Every few months they resent paper work increasing my percentage rate and payments, They lost one of my payments and then found it but refused to correct the error so It still shows as delinquent. I made hundreds of phone calls until after many tears and fears. I contacted an attorney. I stopped making payments 2 years ago and I still reside in my home for now. I did everything they asked until I just couldn’t do anything anymore. So I wait for the foreclosure papers and intend to fight for my home.The check I received today I thought was going to be for aprox 6000 or more. $300 doesn’t pay for any of the misery My family and myself have gone and are continuing to go through.
    I’m so over this..Just want Justice

    1. Lisa

      I also had problems with Saxon. They are evil. They were owned by Morgan Stanley and once all hell broke loose, they said “get rid of them.” Most everyone got fired and Morgan Stanley sold them off. Now you must complaint to Morgan Stanley at their corporate office in NY. James Gorman, Noah Perlman are people in power there. You must also complain to the Federal Reserve Board and the Office of the Controller of the Currency. I also received a whopping $300 for them stealing my home of 16 years. We must not take this sitting down.

  21. Jeanne

    I simply can’t believe this company are still in operation. I also can’t believe there’s not more in the news about their gigantic, flagrant, horrific handling of both the National Mortgage Settlement and the Independent Foreclosure Review. I have one question: who is behind this blatant theft?

    Basically, they have the money and are not giving it out. I presume it’s sitting in an investment fund/stock market somewhere and they want to make as much as possible off it. They’re not even doing a decent job at pretending to care about the people they’re meant to help. Script reading on the phone? What the heck is up with that? This is absolute BS.

    I’m not a vengeful person by any means, but I certainly hope Rust Consulting never, ever get to do any reasonable amount of business again, with anyone, for any reason. I sincerely hope they fold — then, I sincerely hope the people responsible for this sickening fraud and mismanagement get arrested and put on trial. It’d be no less than they deserve.

    1. Lisa

      Rust is not the problem; they are only the paying agent. The problem is with the FRB that was supposed to overseeing the banks in determining who would receive payments. There were no reviews. The FRB signed off on anything amount the banks said to pay. I filed a written complaint with the FRB and received a form letter yesterday stating if you don’t like the amount you received, too bad. You have 90 days to cash it. How cold is that. I am sure that others received the same form letter from the FRB. This is a major national scandal like the IRS and the AP.

  22. Unknown

    Iowa Attorney General-Lead Office of the Executive Committee here is VIDEO ON CALL

    After being provided inconsistent information by Rust Consulting and many, many Attorney General offices, among other government offices, we went to the “lead” Iowa AG office (AG Tom Miller-Iowa) who is on the Executive Committee for the NMS and is suppose to be overseeing Rust Consulting. The Executive Committee was the best kept secret in this entire search for information! Other than the notation on the bottom of the NMS website, there was nothing more provided who was on this committee.
    Keeping track, providing accurate information, explaining what is occurring and being transparent should be a priority to the so called “ghost committee”. After all, the 49 AG’s negotiated this settlement on “borrowers” behalves and shouldn’t they be assuring them what they did was in their best interest? That was to be the Executive Committee’s job but did they, are they and will they do the right thing and come up with explanations: why dates change, why dates on AG websites posted as June are not on the NMS website that the Executive Committee controls? Shouldn’t the Executive Committee know if claimants will receive interest on the 1.5 billion, where the number 750,000 eligible borrowers came from, why it is not considered a conflict that Rust Consulting was handed a billion dollar contract to be the Administrator when they are in bed with Citi? This was the most sickening conversation and one we hope everyone will interpret as “protecting” Wall St, the Banks and all the loan servicers who stole homes from the American People.
    Warning: Content will be upsetting and we apologize if you lose your breakfast, lunch or dinner. PLEASE FORWARD THIS LINK and message and make this video go viral. Transparency is needed and there could not be a better time! Thank you everyone for your support and most of all our thoughts and prayers goes out to those who had their homes stolen and are trying to get through just one day without more salt being poured in the wounds. After all, borrowers are suppose to be “Thankful” for this small token called a settlement in lieu of the loss of their homes. Kind of hard to muster up thanks when it could have been avoided and the Banks were not prosecuted for illegal foreclosures. Very dark day in this country when homes can be stolen and the responsible parties can buy their way out of prosecution. Why doesn’t that apply to everyone else who breaks the law?! Sen. Warren had that right! To BIG to go to Trial!
    God Bless!

  23. gsween

    Still waiting on my check. Still have not received it yet. Was forced into bankruptcy to save my home due to those lying cheating BOA !@#$%! Now stuck for 5 years in CH 13.

  24. awearles

    i was just offered a job working for rust in one of there call centers in Minnesota. and with me being out of work and my wife going threw medical issues i planned to take the job. but know after reading this not sure if i can

  25. KCM

    Here’s another Texas Countrywide/BOA screwed up my life over their FRAUD!!!! RUST consulting I sure hope you feel like $2BILLION is enough for your greedy self!!! Those of us homeless will try to figure something out!
    Like a MASS Action Lawsuit naming Rust, Countrywide, BOA & whoever else gets in our way!!!!!

  26. macvee

    July 8, 2013 and still no payment. Rust sent me a postcard in March saying I would receive payment or request for additional info if needed within 4 to 8 weeks. Neither has occurred. Also, Rust representatives say I will receive a payment, but they don’t have a date yet. At this point, it’s not about the amount. I think most of us have seen that the average amount of the checks is between $300-$500 and the amount we received was decided by our mtg company, not Rust. Sounds fair to me..NOT. What’s wrong here is the fact that this company has promised something they have not delivered. Why in the world would people continue to use them when they are at least 2 months late sending out payments?

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