Major servicers are in various stages of setting up their systems and training personnel to provide struggling homeowners with a “single point of contact” (SPOC) that they can rely on as they go through the loan modification process, according to a new report by the Office of the Comptroller of the Currency (OCC).In April 2011, OCC directed 12 major mortgage servicers to clean up their shops after receiving numerous complaints from borrowers and congressmen about slow processing times, lost paper work and the difficulty of reaching anyone at the servicing company who could answer their questions.

So far, OCC officials seem to be satisfied with the progress the servicers are making.

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