Pursuits
OCC’s Curry Defends $9 Billion Foreclosure Deal With Servicers
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As paychecks for consultants hired to review faulty foreclosures threatened to exceed compensation to the homeowners harmed by the flaws, the U.S. Comptroller of the Currency says he decided to end the reviews.
About 19 months after his agency ordered 14 of the largest mortgage servicers to hire consultants to search for foreclosure missteps, those consultants had made almost $2 billion and nobody who’d been cheated on a foreclosure in 2009 or 2010 had been paid, the comptroller, Thomas Curry, said in remarks prepared for an event today.