OMSO assists the Monitor in carrying out his duties to ensure that the banks comply with the servicing standards and consumer relief requirements outlined in the NMS.

The Monitor, Joseph Smith, formed OMSO to help him carry out the duties he was given in the NMS. OMSO supports the Monitor in his efforts to oversee the Settlement.

Specifically, the Monitor receives and reviews periodic reports from the banks and then makes his own determinations and findings as to the banks’ compliance with the Settlement. The Monitor communicates those determinations and findings to the banks and then to the Court and a Monitoring Committee composed of representatives of state attorneys general and federal agencies. The Monitor works with any non-compliant institutions to establish and then oversee corrective action plans, or, when necessary, the Monitor makes recommendations for additional corrective actions. Some of this information may be confidential, but the Monitor is committed to sharing as many of his findings with the public as possible.

If the Monitor determines that an institution is not compliant with the NMS, he will oversee a corrective action plan with that institution. Should it become necessary, the Monitor also may make recommendations for additional corrective action, including the seeking through the Court of penalties and/or injunctive relief.

Joseph Smith takes seriously his role as the Monitor of the NMS and seeks to operate OMSO in an open and transparent way that engenders confidence of the public in his oversight. The Monitor reports on his work over time so the parties and public can make their own assessments.

In his role as Monitor, Joseph Smith seeks to engage with the public through a variety of channels to ensure that the Settlement is implemented in an open and transparent way. His communication channels include this website, press releases, interviews with the media, meetings across the country and public speaking engagements. If you have further questions specific to the Settlement, please visit the National Mortgage Settlement agreement website at http://nationalmortgagesettlement.com/faq.

Several organizations can help you process a complaint about your mortgage servicer. OMSO can assist you by providing contact information about the appropriate organization in your state, depending on your situation. You can find your state-specific information here.

Regardless of which state you live in, the Consumer Financial Protection Bureau may be able to assist you with your complaint. You may seek such assistance by visiting http://www.consumerfinance.gov or calling 855-411-2372.

Please call the Settlement Administrator on its toll-free hotline at 1-866-430-8358. The Monitor has no responsibility over this part of the NMS.