Senior Obama administration officials, newly joined by state attorneys general, were on the brink Thursday of finalizing major elements of a possible settlement with large U.S. banks accused of flawed and fraudulent foreclosure practices, sources familiar with the discussions said. But absent from this otherwise united government front, which is preparing to submit a proposed settlement to financial firms within days, is the regulator of the nation’s largest banks, the Office of the Comptroller of the Currency. The OCC has raised concerns that the firms might be required to pay too large a fine – $20 billion or more – and adopt mortgage procedures that the agency doesn’t think make financial sense.
Obama officials, AGs closer to possible deal with banks in foreclosure mess
Most Popular Articles
Latest Articles
Major homebuilder objects to proposed NAR settlement
PulteGroup, one of the largest U.S. homebuilders, says it requires more information before deciding to remain in the class.
-
How AI will transform the mortgage and appraisal industries
-
First Federal Bank to acquire Watson Mortgage Corp.
-
Elevated mortgage rates, home prices harm affordability: Redfin
-
FHFA annual report highlights GSE actions on affordable housing
-
G-Rate sued for gender discrimination, sexual harassment, unpaid comp