Settlements with mortgage servicers that abruptly ended their participation in an Independent Foreclosure Review are facing new scrutiny.

On Thursday, Senator Elizabeth Warren (D-Mass.), newly elected and named to the Senate Banking Committee, and Rep. Elijah Cummings (D-Md.), the top Democrat on the House Committee on Oversight and Government Reform, sent a letter to Federal Reserve Chairman Ben Bernanke and Comptroller of the Currency Thomas Curry demanding additional information about those settlements.

Earlier this month, 10 mortgage servicing companies, all subject to 2011 consent orders issued by the OCC and Federal Reserve over improper practices, agreed to pay $3.3 billion in direct payments to eligible borrowers (with homes in foreclosure in 2009 and 2010) and $5.2 billion for loan modifications and forgiveness of deficiency judgments. Signing off on the deal were Aurora Loan Services, Bank of America, Citibank, JPMorgan Chase, MetLife Bank, PNC, Sovereign, SunTrust, U.S. Bank, and Wells Fargo. Fulfilling the agreement means they will no longer have to take part in the Independent Foreclosure Review established under their consent orders. Those reviews have proven to be controversial because of the high fees frequently charged by independent contractors.

In a statement, the OCC and Federal Reserve said the trade-off “provides the greatest benefit to consumers.” “It has become clear that carrying the IFR process through to its conclusion would divert money away from the impacted homeowners and also needlessly delay the dispensation of compensation to affected borrowers,” they wrote.

Now, Cummings and Warren want to dig deeper into the details of the deal.

“Based on briefings provided by staff of the Federal Reserve and the OCC, it appears that individual borrowers whose homes were in foreclosure in 2009 or 2010 will no longer be able to seek a review of their files to determine whether they were the victims of any illegal or abusive behavior on the part of their mortgage servicers,” they wrote. “It also appears… they will not receive compensation based on any specific harm they suffered.”

Among the documents and information Warren and Cummings are seeking by a Feb. 22 deadline:

The results of IFR performance reviews, including all documents reviewing the performance of independent contractors.

All documents compiled by the agencies that indicate the total amount of settlement funds paid to each independent contractor.

The total number of reviews of borrower files initiated by each of the independent contractors, and the number of borrower files in which unsafe or unsound practices were found.

The average time required to complete a review of a borrower's file.

The total number of eligible borrowers who requested reviews of their foreclosure files, sorted by gender, race, zip code, and property value.

“Public confidence in the banking system has been badly undermined by a widespread concern that large financial institutions are not held fully to account when they break the rules and that consumers are not sufficiently compensated,” the two wrote. “It is critical that the OCC and the Federal Reserve disclose additional information about the scope of the harms found to establish confidence in the sufficiency and integrity of the settlement.”