Regulator Wants Banks' Detailed Data On Mortgages

Law360, New York (March 3, 2008, 12:00 AM EST) -- As part of an effort to help prevent struggling borrowers from losing their homes, a federal banking regulator has asked nine large national banks that service mortgages to hand over monthly reports filled with detailed loan data.

The U.S. Office of the Comptroller of the Currency sent a letter to nine large national banks Friday, including Citigroup Inc. and Bank of America Corp., asking the financial firms to provide month-end mortgage data for the past five months.

The banks account for the vast majority of national...
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