OCC orders banks to review handling of foreclosures

06/30/2011 | Nasdaq.com · Global Financial Strategy

The Office of the Comptroller of the Currency has ordered financial institutions to review their foreclosure policies and compensate borrowers who were harmed by their practices. "While the reviews at the 14 large mortgage servicers and subsequent supervisory responses address a large segment of the mortgage servicing market, the OCC wants to ensure that all mortgage servicers under its supervision adhere to appropriate foreclosure management standards," according to a statement from the OCC.

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Nasdaq.com · Global Financial Strategy

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