Mortgage Cos. Must Fix Foreclosure Policies By Early 2012

Law360, New York (November 22, 2011, 9:37 PM EST) -- Major mortgage servicers that settled with banking regulators in April over unsafe and unsound foreclosure practices should finish correcting their policies during the first part of 2012, a U.S. Department of the Treasury bureau said in a report released Tuesday.

The Office of the Comptroller of the Currency provided an update on the actions that 12 national banks and federal savings associations have taken since reaching a settlement with the OCC, the Federal Reserve and OCC predecessor, the Office of Thrift Supervision, in April.

The regulators...
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