Tag Archives: Office of the Comptroller of the Currency (OCC)

The OCC has issued its findings on the performance of first-lien mortgages in the federal banking system during Q2, as 97.3% of mortgages were found current and performing at the end of the quarter, compared to 97.6% in Q1.

As financial institutions evaluate their tech budgets, experts say concern about data security takes a front seat, as fintech firms must prioritize risk and compliance in today's marketplace.

During a recent House Financial Services Subcommittee on Financial Institutions and Monetary Policy meeting, Greg Coleman of the Office of the Comptroller of the Currency noted that “the OCC’s role is to ensure that national banks and federal savings associations understand their climate-related financial risks and develop comprehensive risk management frameworks and capabilities to identify, measure, monitor and control those risks.”

Overall mortgage performance was on the upswing in the first quarter of 2023, as the OCC reported banks serviced approximately 12 million first-lien residential mortgage loans with $2.7 trillion in unpaid principal balances—representing 22% of all residential mortgage debt outstanding nationwide.

After closely monitoring the condition of the institutions it supervises throughout the market stress this spring, a new report from the OCC examines how financial institutions have managed risk and restored confidence in the banking system in Q1.

inal guidance from the Federal Reserve, FDIC, and OCC outlines principles and considerations for banking organizations’ risk management of third-party relationships.

The OCC’s latest Mortgage Metrics Report found that mortgage servicers nationwide initiated 9,166 new foreclosures in the fourth quarter of 2022, a decrease from Q3’s totals but a higher volume than recorded in Q4 2021.

Mortgage loan subservicer promotes six from within, including Rene Gonzales to Chief Technology Officer.

The transaction includes the purchase of certain loan portfolios from Signature Bridge Bank totaling $12.9 billion, and the assumption of $34 billion in deposits by Flagstar.

Among the OCC’s highlights from the past year was its work with the Property Appraisal and Valuation Equity (PAVE) Task Force in advancing property appraisal and valuation equity to help close the racial wealth gap and address mis-valuations for families and communities of color nationwide.