Browse articles from all of our Newsletters related to OCC.
April 10, 2017 - Inside the CFPB
Thanks in part to the recent consent order Wells Fargo reached with the CFPB, the Office of the Comptroller of the Currency recently gave the top mortgage lender in the U.S. a rare needs to improve rating under the Community Reinvestment Act this despite citing Wells overall outstanding performance on the lenders performance examination components, the lender noted. The rating is based on the most recent CRA performance evaluation, which covers the years 2009-2012. The agency referenced the lenders recent $100 million consent order with the CFPB, and a related action brought by the city and county of Los Angeles that resulted in a $50 million fine, and numerous other enforcement actions. The OCC said the banks overall CRA performance ...
March 17, 2017 - Inside MBS & ABS
Ginnie Maes outdated organizational structure and staff levels have made it difficult for the agency to properly monitor and mitigate the risk posed by the increasing number of nonbanks participating in its MBS programs, according to the Department of Housing and Urban Developments inspector general. In a recent briefing paper, HUD Inspector General David Montoya highlighted challenges Ginnie faces in monitoring nonbanks, adding that HUD is currently being audited by the IG to gauge its capacity to track and supervise nonbanks, said Montoya. Ginnie acknowledged...
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