Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

The U.S. regulatory agency for national banks is cracking down on unlawful and unfair lending practices. Earlier this month, the Office of the Comptroller of the Currency, which charters, regulates and supervises national banks, issued "OCC Guidelines Establishing Standards for National Banks' Residential Mortgage Lending Practices." The guidelines, which the OCC introduced "as a further step to protect against national bank involvement in predatory, abusive, unfair or deceptive residential mortgage practices," will become effective in April. These guidelines will become part of the OCC's regulations. "These standards further the OCC's goal of ensuring that national banks and their operating subsidiaries are not involved directly or indirectly through loans that they purchase or make ...