Fund 1 Independent Foreclosure Review PA
Unclaimed Property

Fund 1 Independent Foreclosure Review PA currently holds $36.1 million in unclaimed property distributed across 67,224 individual records in California. This fund was established as part of federal mortgage settlement agreements to provide compensation to homeowners who experienced foreclosure-related harm, but many eligible recipients never received their payments due to outdated addresses or lack of awareness about the settlement program.

Fund 1 Independent Foreclosure Review PA was created as part of the Independent Foreclosure Review process mandated by federal banking regulators following the 2008 mortgage crisis, designed to compensate homeowners who suffered financial injury due to improper foreclosure practices by major banks and mortgage servicers. Many Californians who went through foreclosure between 2009-2010 were entitled to compensation ranging from hundreds to thousands of dollars, but payments often went unclaimed because homeowners had moved after losing their homes and didn't receive notification at their new addresses, or they weren't aware they were eligible for compensation from the settlement program.

The highest concentrations of unclaimed funds are in Los Angeles, San Diego, and San Francisco's largest metropolitan areas that were hit hardest during the foreclosure crisis and had the most cases eligible for review. With an average claim value of $536.64, these represent real compensation payments that were meant to help families recover from foreclosure-related financial harm, but the funds were turned over to the state when recipients couldn't be located.

The average claim from Fund 1 Independent Foreclosure Review PA is $537.