The OCC/Bailout/Mortgage Loans/Foreclosures
National banks are chartered, regulated and supervised by the Office of the Comptroller of the Currency; headquartered in Washington, D.C. National banks have "National" or "N.A." in their name.
The Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC) charters, regulates, and supervises all national banks. It also supervises the federal branches and agencies of foreign banks. Headquartered in Washington, D.C., the OCC has four district offices plus an office in London to supervise the international activities of national banks.
The OCC was established in 1863 as a bureau of the U.S. Department of the Treasury. The OCC is headed by the Comptroller , who is appointed by the President, with the advice and consent of the Senate, for a five-year term. The Comptroller also serves as a director of the Federal Deposit Insurance Corporation (FDIC) and a director of the Neighborhood Reinvestment Corporation.
The OCC's nationwide staff of examiners conducts on-site reviews of national banks and provides sustained supervision of bank operations. The agency issues rules, legal interpretations, and corporate decisions concerning banking, bank investments, bank community development activities, and other aspects of bank operations.
Now I had a conversation yesterday, and the question came up, which became a debate, and the questions was is national bank owned / operated by the government. Well no technically it is a corporation however, are chartered, regulated and supervised by the Office of the Comptroller of the Currency; headquartered in Washington, D.C. Their words.
I have included a link with a list of national banks.
http://www.helpwithmybank.gov/national_banks/bank_list.html
There is a list of National Banks Operating as a subsidiary of a National Bank
I will name a few:
National Bank Operating Subsidiary List "#"
Name of Operating SubsidiaryDoing Business As (DBA), abbreviated, or trade nameName of Parent National Bank (legal name)Operating Subsidiary City/State
* indicates more than one DBA name for an OS.
1st Capital Mortgage, LLCN/AWells Fargo Bank, NACaryNC
National Bank Operating Subsidiary List "A"
Name of Operating SubsidiaryDoing Business As (DBA), abbreviated, or trade nameName of Parent National Bank (legal name)Operating Subsidiary City/State
* indicates more than one DBA name for an OS.
A.G.Edwards Mortgage, LLCN/AWells Fargo Bank, NAMinneapolisMN
AB Community Investments Inc.N/AAustin Bank, Texas National AssociationLongviewTX
Access Mortgage CorporationAccess Mortgage Corporation
American Mortgage Network, Inc.*AmNet Mortgage Inc.Wachovia Bank, National AssociationSan DiegoCA
American Mortgage Network, Inc.*American Mortgage Network Inc. of DelawareWachovia Bank, National AssociationSan DiegoCA
American Mortgage Network, Inc.*American Mortgage Network of OregonWachovia Bank, National AssociationSan DiegoCA
Standard & Poor's
Ratings Services Only bank in the U.S. to be rated AAA (Wells Fargo Bank N.A.)
Contact: Bryan Hubbard
(202) 874-5770 FOR IMMEDIATE RELEASE
May 16, 2008
OCC Offers Consumer Tips to Avoid Foreclosure Rescue Scams
WASHINGTON — The Office of the Comptroller of the Currency issued an advisory today that provides advice to help prevent borrowers from becoming victims of foreclosure rescue scams.
Foreclosure rescue con artists take advantage of vulnerable people who have fallen behind on their mortgages and may be facing foreclosure, said Comptroller of the Currency John Dugan. People facing difficulties with their mortgages should contact their lender or a legitimate financial counselor sooner rather than later. Lenders are often in the best position to help by identifying options or modifying the loan, especially if the borrower is current on the loan or not seriously late on payments.
The OCC Consumer Advisory outlines what people should watch out for to avoid foreclosure rescue scams and provides a list of resources people can use to find qualified sources for help.
Most foreclosure rescue scams fall within three categories. In lease-back or repurchase scams, the con artist convinces borrowers to sign over their deeds in return for a promise to lease back or eventually repurchase the property. Refinance fraud involves a situation where the borrower believes the transaction is a refinance, but in fact the fraud involves transfer of property ownership to the con artist. Bankruptcy schemes involve repeat bankruptcy filings to get a temporary stay order to delay foreclosure, but can result in damaging the consumers credit without saving their homes.
Congress is working as we speak, on an act to mortgage holders with a plan to help.
I know I don't say it with conviction at the end..however, TIME IS MONEY AND MONEY MATTERS!
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Becoming an OCC National Bank Examinerby OCCChannel3,108 views
@ Bordone...It looks bootlegged because of the "setting" on the webcam.."eye view, zooming and fade out are set...it was meant to be in a "V" for Vendetta kinda style...
AlexandriaCD 4 months ago
Umm....all you did was read the information from the OCC website, this is a poor video that says nothing, sorry.
fantasyshark1 2 years ago
Oh well you are welcome to your opinion...I am sure you look up this type of information and it is relevant to your everyday life..therefore my commentary gives you no insight...oh well...it really doesn't matter or does it?
AlexandriaCD 2 years ago
Your baby sounds adorable
1900whogivesa 2 years ago
Well thank you she is adorable..however that was my great nephew Jayden
AlexandriaCD 2 years ago
Thank you....I am glad someone thinks so.
AlexandriaCD 3 years ago