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Financial Services Law Insights and Observations

OCC Supports Independent Foreclosure Review Program with Public Service Adds



On January 4, the OCC announced that it placed print and radio public service advertisements to inform mortgage borrowers of the Independent Foreclosure Review program launched by the OCC in November 2011. The print feature explains that borrowers foreclosed upon between January 1, 2009 and December 31, 2010 are eligible to have their foreclosures independently reviewed to determine if the borrowers suffered financial injury as a result of any errors by certain large, federally regulated mortgage servicers. The ads will run in Spanish and English in 7,000 small newspapers and on 6,500 small radio stations.