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Home | Tag Archives: OCC

Tag Archives: OCC

OCC Highlights Innovation in Community Bank Space


*+-With many smaller banks either failing or struggling to continue operations due to increased costs of doing business, Comptroller of the Currency Thomas Curry recently spoke at the Federal Home Loan Bank of Chicago about some of the latest innovations brought about to help community banks get back in the lending game.

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OCC Comments on Progress of Hardest Hit Fund Initiative


*+-In an article for the newsletter titled "Hardest Hit Fund Provides Locally Tailored Solutions for Struggling Homeowners," U.S. Department of Treasury Director of the Hardest Hit Fund Program Erin Quinn said that as of March 2015, almost 230,000 homeowners had received a combined $4.7 billion worth of assistance from the HHF Program.

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Mortgage Performance Improves Across the Board For Eight National Banks


*+-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


*+-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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