On 12/20/21, the OCC issued an updated "Other Real Estate Owned" booklet of the Comptroller’s Handbook, which is prepared for use by OCC examiners in connection with the examination and supervision of national banks, federal savings associations, and federal branches and agencies of foreign banking organizations (collectively, banks).
Updates on the booklet included:
Clarification on the definition of physical possession as it pertains to OREO properties;
Ownership obligations and actions as they pertain to the Fair Housing Act; and
Other changes for clarity.
The revised booklet rescinds the booklet of the same title issued in September 2020 and the OCC Bulletin 2020-79, “Other Real Estate Owned: Updated Comptroller’s Handbook Booklet.”
See the full bulletin here.
Access the updated booklet here.