Sources: Morris Schneider Wittstadt declaring bankruptcy, closing immediately

Sources: Morris Schneider Wittstadt declaring bankruptcy, closing immediately

LandCastle Title’s operations will not be affected

8 avoidable mistakes first-time homebuyers keep making

Stop doing these things

Trending Thursday: CFPB data collection worse than the NSA?

Slowly but surely GSE shareholders cutting into Treasury, FHFA secrecy
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Items Tagged with 'OCC'

ARTICLES

OCC: Mortgage performance better in 1Q15

94.2% of mortgages current, up from 93.1%
Trey Garrison
The performance of first-lien mortgages serviced by eight national banks improved during the first quarter of 2015, according to the Office of the Comptroller of the Currency’s quarterly report on mortgage performance. Here's what happened.
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OCC slaps Wells Fargo, JPMorgan, others with mortgage servicing restrictions

Failed to fulfill requirements of the Independent Foreclosure Review
Ben Lane and Brena Swanson
The Office of the Comptroller of the Currency slammed Wells Fargo, JPMorgan Chase and other banks with new mortgage servicing restrictions due to their failure to comply with requirements of the Independent Foreclosure Review, the Office of the Comptroller of the Currency announced Wednesday.
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Feds reissue checks related to the Independent Foreclosure Review

Third attempt to reach eligible borrowers
Trey Garrison
Replacement checks are being mailed this week to borrowers eligible for payment under the Independent Foreclosure Review, according to the Office of the Comptroller of the Currency. Here's what's down with OCC.
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OCC: Mortgage performance improves in third quarter

Delinquencies, foreclosures decline on first-lien mortgages
Trey Garrison
Mortgage activity may be slowing overall, but first-lien mortgages are continuing to show improvement. Here's how it broke out in the third quarter.
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Large banks lower lending standards to pre-crisis levels

Underwriting standards start to weaken
Brena Swanson
A new survey shows that the days of risky mortgage lending may be back, citing concerns that big lenders are lowering their standards on some of the riskiest lending.
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OCC: 87% of settlement funds distributed to borrowers

Waters has called OCC's crediting system "nonsensical"
Ben Lane
According to the OCC, Qualified Settlement Fund 1 had disbursed 3,948,415 checks to distressed borrowers, totaling $3,385,814,432, as of January 24, 2014. Of those checks, 3,280,458 (83%), totaling $2,903,932,623 (86%), have been cashed or deposited as of April 8, 2014.
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Waters: Regulators used “nonsensical system” to setup mortgage settlement fund

Waters is "troubled" by GAO report on foreclosure process
Ben Lane
Waters said she was “concerned” with these GAO findings. Waters said the report also “show(s) that the settlement was reached without adequate investigation into the harms committed by the servicers.”
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Mortgage servicing foreclosure review faults subpar regulation

Cash payouts and foreclosure prevention fund based on "incomplete information"
Ben Lane
When it came to the $6 billion set aside for foreclosure prevention actions, the GAO found that the Fed and OCC did not define specific objectives for what was to be done with the money. Instead, the regulators negotiated with the servicers and identified broad objectives, including “that actions be meaningful and that borrowers be kept in their homes.”
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Did the foreclosure rate really get cut in half?

Yes, according to OCC data
Jacob Gaffney
The percentage of early stage delinquencies, 30 days+ overdue, is 2.6%, down 8.7% from a year ago and the lowest level at year-end since reporting began in January 2008. But the really big changes concern foreclosures.
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3 security concerns when working with third-party vendors

OCC: Vendor relationships create added risks
Brena Swanson

As more lenders turn to third parties, regulators are emphasizing the importance of gauging the potential risks involved. While relying on vendors is not bad, it is adding new weaknesses into the system.


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