OCC announces enforcement action against EverBank

This story appeared in Bank Digest.

The OCC has announced that EverBank has agreed to pay approximately $37 million in cash payments to more than 32,000 eligible mortgage borrowers. The bank was subject to a cease and desist order for unsafe and unsound practices in mortgage servicing and foreclosure processing. EverBank will consent to an amendment to the order, which will effectively end the Independent Foreclosure Review process for EverBank and its customers.