Items Tagged with 'OTS'


  • Regulators Place Enforcement Actions on Ten Firms

    The Federal Reserve (Fed), in an interagency action with the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS), has announced enforcement actions taken against 10 banking organizations, including eight national banks and two servicing entities.  The actions are a culmination of an investigation, and subsequent report,  into the residential mortgage loan servicing and foreclosure processing practices that identified deficiencies from a pattern of misconduct and negligence.   "These comprehensive enforcement actions, coordinated among the federal banking regulators, require major reforms in mortgage servicing operations," said acting Comptroller of the Currency John Walsh.
    Read More
  • OCC, OTS to Study 'Sustainability' of Modifications

    The March edition of the Mortgage Metrics Report, published jointly by the Office of the Comptroller of Currency and the Office of Thrift Supervision, will include new information that looks into the "affordability and sustainability" of loan modifications, the agencies announced Friday.
    Read More
  • OTS Chairman Steps Down

    John Reich, Director of the Office of Thrift Supervision, on Thursday announced his resignation from the agency. Reich and Obama administration officials may have been at odds over whether the government should take part in mortgage workouts to help troubled homeowners, according to a Market Watch report.
    Read More
  • Frank and OTS Urge Foreclosure Moratoriums

    A key member of Congress and one federal regulator Wednesday urged financial institutions to enact foreclosure moratoriums, until lawmakers hash out the details of a "comprehensive" plan to address the housing crisis, which is currently in the works. "I would ask all of you now to please make sure that we have a moratorium in effect," Frank said at a hearing before the Senate Budget Committee Wednesday, where the CEOs of eight major banks were drilled as to their usage of government aid.
    Read More
  • Thrifts See Origination Volume Plummet in Q1

    Total mortgage origination activity among the nation's thrifts fell by 20 percent during the first quarter while troubled assets continued their rapid ascent, the Office of Thrift Supervision said Tuesday afternoon. Mortgage originations, including multifamily and nonresidential mortgages, were $133.7 billion in the first quarter, down 21 percent from $169.2 billion in the first quarter a year ago and down 20 percent from $166.6 billion in the prior quarter.
    Read More