The initial progress report released last week on the national mortgage settlement drew attention to the early loss mitigation completed by the five banks participating in the settlement. However, Joseph Smith, the monitor of the $25.0 billion settlement, has also stressed that he is looking for noncompliance with the settlement’s 304 servicing standards. The Office of Mortgage Settlement Oversight allows borrowers and professionals assisting homeowners to detail experiences with servicers participating in the settlement. “It’s important for people in the marketplace to let me know if they see conduct that they think violates the settlement agreement,” Smith said. Smith said he has received...