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Home » Store » Inside The GSEs » Servicers Complying With Consent Orders, But System Overhauls to Last Through 2012

Servicers Complying With Consent Orders, But System Overhauls to Last Through 2012

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The Office of the Comptroller of the Currency last week reported that 12 bank and thrift mortgage servicers are pressing ahead to comply with the foreclosure practices consent orders issued in April, but it will take all of next year to complete the necessary steps. “Work is well under way on the actions necessary to comply with the consent orders,” the OCC said in a report. “Efforts to correct deficiencies in foreclosure processes, management oversight and internal audit are furthest advanced.” To forward the process of identifying and providing remediation to...
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