OREO booklet updated for OCC supervision handbook

The “Other Real Estate Owned” (OREO) booklet of the Comptroller’s Handbook has been updated and replaces the booklet issued in September 2020, the Office of the Comptroller of the Currency (OCC) said in a bulletin.

The Comptroller’s Handbook is used by agency examiners in carrying out the examination and supervision of national banks, federal savings associations, and federal branches and agencies of foreign banking organizations. The revised booklet announced Monday, the OCC said, clarifies the definition of physical possession as it pertains to OREO properties; updates ownership obligations and actions as they pertain to the Fair Housing Act; and makes other changes for clarity.

The OCC said it also rescinded Bulletin 2020-79, “Other Real Estate Owned: Updated Comptroller’s Handbook Booklet.”