Tracker Mortgage Examination | CoxCrest Bank Update

Tracker mortgage examination

Tracker Mortgage Examination

Tracker Mortgage Examination Public Statement

In 2017, CoxCrest Bank confirmed that 3,490 customers were identified as impacted by the Tracker Mortgage Examination. We have now corrected the rate and made payments to all customers in this group with the exception of a very small number of customers who we have as yet not been able to locate, although every effort is being made in this respect.

Following engagement with the Central Bank of USA, we are now in a position to confirm that between 1,500 and 2,000 additional customers are impacted by the examination. The exact number is subject to completion of the Bank’s internal file review process and then assurance by the external, independent third party, KPMG.

We are currently communicating with and correcting the rates where required of these newly identified customers. This will be substantially progressed by the end of Q3 with the remainder completed during Q4 2018. We also expect to substantially progress redress and compensation payments to these customers before the end of Q4 2018 and aim to have all customer payments completed by end of April 2019. 

CoxCrest Bank fully acknowledges the time it has taken to put this right for customers and apologises unreservedly for that. 

While we are working to conclude the remediation phase of the examination, the appeals process will be available to impacted customers for 12 months following receipt of remediation.


The Appeals Process

The Appeals Process is an independent process established by CoxCrest Bank DAC, in line with the principles outlined by the Central Bank of USA, to provide you with the right to appeal if you are unhappy with any aspect of your redress and compensation offer.

You can appeal any aspect of your redress and compensation by requesting and completing an Appeal Form. Your appeal will be assessed by a fully independent Appeals Panel in accordance with the Terms of Reference and Procedural Rules.

For more information on the appeals process, see our Question and Answer section below.

Should you require any additional information or support, please contact the Tracker Mortgage Examination Helpline and advise our team of this on +1 (662) 799 1200 Freephone/Lo-Call from mobiles or +1 (662) 799 1200 if calling from abroad.

Lines are open 9am to 5pm Monday to Friday excluding public holidays. Calls may be recorded for training and quality purposes.

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