OCC Updates Guidance on Residential Real Estate

The OCC today updated its Comptroller’s Handbook guidance on residential mortgages, replacing previous guidance and exam procedures issued in 1990, 1998 and 2011. The new booklet consolidates national bank and thrift guidance; provides examiner guidance on assessing residential real estate risk management; includes changes to production, servicing, collections and foreclosures; and incorporates the CFPB’s mortgage rules.