Statement from Comptroller of the Currency Thomas J. Curry on the IFR Settlement

Office of the Comptroller of the Currency

Statement from Comptroller of the Currency Thomas J. Curry on the IFR Settlement

WASHINGTON —  The OCC released the following statement by Comptroller of the Currency Thomas J. Curry regarding the settlement with 10 mortgage servicers subject to enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing.

When we began the Independent Foreclosure Review, the OCC pledged to fix what was broken, identify who was harmed, and compensate them for that injury.  While today’s announcement represents a significant change in direction, it meets those original objectives by ensuring that consumers are the ones who will benefit, and that they will benefit more quickly and in a more direct manner.

We have learned a great deal from the reviews that have been conducted to date.  However, it has become clear that carrying the process through to its conclusion would divert money away from the impacted homeowners and also needlessly delay the dispensation of compensation to affected borrowers.  Our new course of action will get more money to more people more quickly, and it will speed recovery in the nation’s housing markets.

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SOURCE: http://www.occ.gov

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Comments
6 Responses to “Statement from Comptroller of the Currency Thomas J. Curry on the IFR Settlement”
  1. robin says:

    I want to know who and how this gang of goons got into the positions of making such grand choices in our so called government for the banks by the banks,and all these Ceo’s of said banks with there unimpressive educations and thugster looks,10k suits,etc?Dont they see that there choices have no sustainability for anyone including them?Blows my mind,must have been bullied in school or something.

  2. Willy says:

    Oh yes, and carrying this thru to “its'” “conclusion” is helping us. I am so thankful !!! kinda like we must pass it so we can see what’s in it. It scares me to death to think that there are so many stupid people, that “they” can get away with saying B.S. like this.

  3. Mr. Bill says:

    let’s all play billions for trillions! Love that game!

  4. Peter J. Pike says:

    It will also continue the cover-up of all of the wrong doings by the banks and help them avoid jail time.

  5. kate says:

    R…I…G…H…T. I have a bridge in Brooklyn for sale. I only accept cash. Once I receive your cash payment, you will be sent a true original (photoshopped) note proving your ownership of the BB.

    • Chris says:

      What a crock of B.S. If they don’t do the reviews on a case by case basis, then how the heck are they going to know how much someone was harmed in dollars. So they are just going to send out money and hope each victim accepts what was sent as there compensation.

      As an Accountant/Auditor for a State Agency I had to audit each invoice prior to payment. I also had to make sure each invoice was in agreement with the tems and conditions of the contract that the State had with the Vendor. I could not just randomly pay a Vendor nor could I just pay them what I felt they were due. That being said any one who has been victimized by these foreclosure issues deserve the same treatment.

      I don’t want a hand out, but I do want what is due me and I feel like most victims feel the same way.

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