Mortgage servicers making progress on fixing bad foreclosures

Mortgage servicers making progress on fixing bad foreclosures

Banks and mortgage servicers are making progress in improving their processes and contacting homeowners hurt by invalid or flawed foreclosures, the Office of the U.S. Comptroller of the Currency (OCC) reported.

The regulator released an interim report Tuesday on actions taken by 12 banks and servicers to comply with April consent orders that require them to correct deficient and unsound foreclosure practices.

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