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News for Real Estate Investors and Landlords — occ

OCC Takes Enforcement Action Against 8 Servicers

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The Office of the Comptroller of the Currency (OCC) regulates national banks and related entities.  After conducting its investigation of foreclosure, servicing, loan modification and short sale abuses, the OCC took enforcement action against 8 servicers and 2 service providers. The eight servicers are Bank of America, Citibank, HSBC, JPMorgan Chase, MetLife Bank, PNC, U.S. Bank, and Wells Fargo. The two service providers are Lender Processing Services (LPS) and its subsidiaries DocX, LLC, and LPD Default Solutions, Inc.; and MERSCORP and its wholly owned subsidiary, Mortgage Electronic Registration Systems, Inc. (MERS) In a nutshell, each of these companies will to...

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