Mission
FORM 990, PART I, LINE 1 AND PART III, LINES 1 AND 4A: JOSEPH A. SMITH, JR. FORMED THE OFFICE OF MORTGAGE SETTLEMENT OVERSIGHT (OMSO), A NON-FOR-PROFIT CORPORATION, TO HELP HIM CARRY OUT HIS DUTIES AS MONITOR (THE MONITOR) OF THE NATIONAL MORTGAGE SETTLEMENT. THE MONITOR'S PRIMARY TASKS ARE TO DETERMINE WHETHER THE SERVICERS ARE IN COMPLIANCE WITH THE MORTGAGE SERVICING STANDARDS AND CONSUMER RELIEF REQUIREMENTS AS SET FORTH IN THE CONSENT JUDGMENTS THAT COMPRISE THE SETTLEMENT. OMSO ASSISTS THE MONITOR WITH FUNCTIONS RELATED TO THE BUSINESS OF BEING THE MONITOR, INCLUDING MANAGING THE OMSO BUDGET, CONTRACTING WITH CONSULTANTS AND PROFESSIONAL FIRMS, HIRING EMPLOYEES AND MAINTAINING BOOKS AND RECORDS. REFERENCE CAN BE FOUND AT UNC LAW SCHOOL NATIONAL MORTGAGE SETTLEMENTS DIGITAL ARCHIVE AT: HTTPS://SCHOLARSHIP.LAW.UNC.EDU/MORTGAGE-SETTLEMENTS.