"After three months, nearly 36 percent of the borrowers had re-defaulted by being more than 30 days past due," Comptroller John Dugan said in a statement. "After six months, the rate was nearly 53.
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OCC’s Dugan Says Reverse-Mortgage Borrowers Need More Protections . Read preview.. need to get out in front on this issue before problems develop. Dugan said reverse mortgages have "some of the same characteristics as the riskiest types of subprime mortgages–and that should set off alarm.
OCC’s Dugan Needs to Listen More, Dictate Less.. I have a suggestion for how Dugan might improve. spend more time and effort hearing what the banks and bankers it regulates have to say, and.
“The real problem, to me. you see the data and you see the total amount of redefaults going up each month by whatever measure we use, it’s clear that something is not working right,” said John.
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NEW YORK (CNNMoney.com) — It may seem obvious: Increasing how much troubled borrowers pay on their mortgage leads to redefaults. But that didn’t stop America’s banks. Until the end of last year.
Home OCC’s Dugan Calls for Withdrawal of Appraisal Pact.. Redefaults a Problem, OCC’s Dugan Says. Paul Jackson is the former publisher and CEO at HousingWire. Recent Articles by Paul Jackson.
Proposals for a new loan-loss accounting standard, published on November 5 by the International Accounting Standards Board (IASB), are "potentially too restrictive", says US comptroller of the.
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OCC’s Dugan Warns of Reverse Mortgage Compliance Crisis. and regulators should get proactive on this issue before real problems develop. John Dugan warned bankers that reverse mortgages pose.