National Mortgage Settlement Monitor Announces Its Board of Directors – NMP Skip to main content

National Mortgage Settlement Monitor Announces Its Board of Directors

Aug 27, 2012

Joseph A. Smith Jr., monitor of the national mortgage servicing settlement, has announced the Office of Mortgage Settlement Oversight (OMSO) Board of Directors. Smith established OMSO in April 2012 to support his duties outlined in the agreement. As a non-profit, Smith’s office recruited five Board members to manage business operations of the organization: John S. Allison, former banking commissioner of the State of Mississippi; Bonnie Hancock, executive director of the Enterprise Risk Management Initiative at North Carolina State University Poole College of Management; James E. Holshouser, a Pinehurst lawyer and former Governor of the State of North Carolina; Donald A. Pape, counsel to the law firm of Phillips Murrah P.C.; and D. Keith Pigues, Dean of the School of Business at North Carolina Central University. “I am proud that the Office of Mortgage Settlement Oversight will itself be overseen by this illustrious group of Board members,” said Smith. “The OMSO Board combines diverse perspectives of experienced professionals who will continue to provide the counsel and oversight needed to conduct the company’s business successfully.” The role of the Office of Mortgage Settlement Oversight Board of Directors is to oversee business operations of OMSO. The Board of Directors will not have any role in overseeing the national mortgage settlement. All responsibilities charged to Smith as Monitor will remain solely with him.
About the author
Published
Aug 27, 2012
MISMO Updates Business Glossary To Support AI, eMortgages

New definitions covering eHELOCs, remote online notarization, valuation modernization, and compliance initiatives aim to improve consistency

Underwriters Don’t Slow Down Loans. They Eliminate Uncertainty.

ndustry’s biggest bottleneck is not underwriting itself — it is the uncertainty that reaches underwriting too late in the process. When validation happens upstream, speed follows naturally.

MISMO Launches AI Governance Framework For Mortgage Lenders

New FRAME toolkit gives lenders, servicers, and technology providers a roadmap for managing AI risk while supporting innovation

CFPB Tells Lenders Immigration Status Can Factor Into ATR Analysis

CFPB frames immigration status as a potential ability-to-repay factor when future U.S.-based income is at risk

UAD 3.6 Deadline Nears; First American Earns Verification

First American's ACI Sky Workbench gains verification ahead of the Nov. 2 implementation date for the GSEs' updated appraisal reporting requirements

MISMO Introduces New Loan Boarding Standard

Wrapper Files support standardized data transfers between origination and servicing systems, with potential savings of $60 to $160 per loan