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
Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

Oct 02, 2026
Price Cuts Hit Four-Year High As Mortgage Rates Top 7%

More than one in five listings took a price cut in September, but pending sales still posted their sharpest annual decline since March 2025

Oct 01, 2026
Serious Mortgage Delinquencies Rise 19% After Five Months Of Improvement

ICE data shows 574,000 mortgages were at least 90 days past due in August, while early-stage delinquencies remained below year-ago levels

Sep 29, 2026
Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Sep 25, 2026
Mortgage Rates Break 7% Just As Builders Find A Way To Move Buyers

New-home sales rose 6.4% in August as builders cut prices, offered incentives, and sold more lower-priced homes. Now mortgage rates are moving against buyers again

Sep 25, 2026
Borrowers Want Digital Closings, But Some Originators Remain Hesitant

ServiceLink finds 45% of surveyed LOs cite borrower reluctance as a barrier, even though most recent buyers say digital options would influence their choice of mortgage provider

Sep 23, 2026