Third-party review firm Allonhill has responded to a letter from the Office of the Comptroller of the Currency (OCC) telling the firm that it will no longer be able to continue its file review in the Independent Foreclosure Review.
Allonhill served as the primary independent consultant for Aurora Bank. The firm had also reviewed Wells Fargo loan files serving as a subcontractor for Promontory Financial Group.
The OCC reportedly made the determination after the review firm disclosed that it had worked for third parties such as reviewing loan files comprising the same pool of loans that Allonhill was looking at as part of the foreclosure review.
The due diligence company thinks that the OCC’s action is wholly without merit.
“At Allonhill, we have always been committed to the highest levels of integrity and transparency," Founder and CEO Sue Allon said. "While we have the utmost regard for the objectives of the Independent Foreclosure Review process and its positive impact on the mortgage industry, we are profoundly disappointed by the OCC’s decision. We look forward to continuing to provide the highest quality of services to our clients and helping this country recover from the mortgage crisis.”
Allonhill is a woman-owned, independent third-party review firm focusing on mortgage due diligence and credit risk management.
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