About 96,000 borrowers who received a check under the foreclosure review settlement should expect a second payment since their checks were for a lesser amount than what they should have received, the Federal Reserveannounced in a statement.
The second round of payments to make up for the difference is only for eligible borrowers who had their mortgage serviced by former subsidiaries of Goldman Sachs and Morgan Stanley.
Rust Consulting, the paying agent, stated the supplemental checks are scheduled to be sent around May 17 and will include a letter explaining the reason for the additional check.
In a release, Rust Consulting said “a clerical error” led to the lesser amount. The original payments were sent May 3 to over 217,000 recipients.