OCC Extends Foreclosure-Review Request Deadline

Posted by Orb Staff on June 22, 2012 No Comments
Categories : Mortgage Servicing

11849_foreclosedhouse3 OCC Extends Foreclosure-Review Request Deadline The Office of the Comptroller of the Currency (OCC) has extended the deadline for eligible borrowers to request a free review of their mortgage foreclosures under the Independent Foreclosure Review to Sept. 30. Separately, the OCC says that nearly 194,000 borrowers have already requested a free review and that more than 144,000 files were selected by consultants from servicers' portfolios.

According to the OCC, servicers reported completing 93% of the corrective actions required by the consent orders as of May 24.

‘While the work completed to date represents a significant amount of progress, much work remains to be done to complete the implementation of the remaining items, validate and test these actions, and ensure sustainability of the corrective actions,’ says the OCC.

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