The Office of the Comptroller of the Currency (OCC) has announced a new mortgage servicing guidance to insure that all national banks abide by appropriate foreclosure management standards. This includes foreclosure process governance, dual track processing, affidavit and notarization practices, legal compliance, and third-party vendor management. Regulated institutions will be required to give a self-assessment of their mortgage servicing, which the Office of the Comptroller Currency (OCC) bank examiners will review. For more information about the guidance, click here.
UncategorizedNew Mortgage Servicing Guidance Issued by the Office of the Comptroller of the Currency (OCC)
July 14, 2011by George Danneman