Top five op risk losses: Mortgage fines continue to plague banks

Megan van Ooyen from SAS rounds up the top five operational risk losses for February 2017

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Precarious mortgage practices have hurt lenders

A flurry of hefty regulatory penalties – driven by multi-billion dollar settlements between banks and US regulators over crisis-era mortgage mis-selling claims – dominated January’s top five op risk losses. By comparison, February’s top loss events look a lot smaller – but the activities involved are familiar, and highlight the myriad risks banks in the mortgage lending business are exposed to. 

In the top loss, mortgage services provider Ocwen Financial settled a contentious legal battle in

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