HuffPO-

The government-appointed monitor overseeing mortgage practices as part of last year’s robo-signing settlement between five big U.S. banks and dozens of government agencies found few violations after grading the banks’ compliance with ambitious new standards, according to court documents filed Tuesday.

The finding of just three audited failures by Joseph Smith, the government-appointed watchdog heading the Office of Mortgage Settlement Oversight, may prompt criticism by borrower advocates, consumer attorneys, and members of Congress after numerous reports by state attorneys general and housing advocates of pervasive noncompliance with the new mortgage servicing rules the banks agreed to implement as part of the 2012 settlement.

Smith plans to point out five additional unaudited violations that were self-reported by the banks, according to people who have reviewed a report he plans to release on Wednesday. His office has yet to double-check the findings.

[HUFFINGTON POST]

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