OCC and OTS Expand Data Reporting for Loan Mod Efforts
February 19, 2009
The Office of the Comptroller of the Currency and the Office of Thrift Supervision will take a closer look at how servicers modify loans as controversy continues to swirl over the effectiveness of the industry’s loss-mitigation practices. The OCC sparked a debate among federal banking regulators when it reported that 58 percent of modified loans fell delinquent again within eight months...