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Home | Tag Archives: OCC

Tag Archives: OCC

Mortgage Performance Improves Across the Board For Eight National Banks

mod-app-approved

*+-Foreclosure activity declined substantially year-over-year in Q1. The number of properties in the process of foreclosure as of the end of the quarter dropped down to 299,424, a decline of 30.8 percent from the same quarter a year earlier. The nearly 300,000 loans in the process of foreclosure during Q1 comprised about 1.3 percent of the loans in the portfolio.

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OCC to Escheat Uncashed Foreclosure Relief Funds; Restrictions Placed on Chase, Wells Fargo

money-two

*+-Also on Wednesday, the OCC announced that it has terminated foreclosure-related consent orders against three national mortgage servicers that have met the consent order requirements and imposed business restrictions on six banks that have not met the requirements. The six institutions that the OCC determined have not met all the requirements of the IFR were (alphabetically) Everbank, HSBC Bank USA, JPMorgan Chase Bank, Santander Bank, U.S. Bank, and Wells Fargo, and therefore the OCC issued orders to restrict their business activities.

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Dallas Fed to Host Government Outreach Meeting on Regulatory Burdens February 4

wall-st-and-gov

*+-Three government agencies – the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (FDIC) – have announced additional outreach meetings to discuss their collective effort to reduce regulatory burden placed on them by the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA).

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Lawmaker Urges CFPB to Abandon Office Renovation Plans

Senate

*+-Keeping in line with Republicans' promises of more scrutiny of the Consumer Financial Protection Bureau (CFPB), U.S. Representative Jeb Hensarling (R-Texas) has written a letter urging the CFPB to abandon plans to renovate its office building in favor of more cost-effective alternatives. Hensarling addressed the letter, dated January 12, 2015, to CFPB Director Richard Cordray, Comptroller of the Currency Thomas Curry, and U.S. General Services Administrator Daniel Tangherlini.

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