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Compensation 990 is an independent service that uses public IRS Form 990 filings as its source data. We clean and standardize this information, but the original filings may contain errors or omissions. Years on this site refer to the organization’s fiscal year end date on the filing.

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Organizations Public & Societal Benefit Office of Mortgage Settlement Oversight

Office of Mortgage Settlement Oversight

Fiscal year ending 2018. Filed on January 21, 2019.

301 Fayetteville Street Suite 1900
Raleigh, North Carolina 27601

Office of Mortgage Settlement Oversight (EIN: 45-4458511) has filed an IRS Form 990 from fiscal year 2016–2019. In its fiscal year 2018 IRS Form 990 filing, Office of Mortgage Settlement Oversight, a 501(c)(4) civic league or social welfare organization, reported compensation for 3 out of 3 total employees. Among the employees shown here, the average compensation is $364,250. The highest compensated employee at Office of Mortgage Settlement Oversight is Joseph A Smith Jr with fiscal year 2018 compensation of $650,000.

Revenue, expenses, and employee compensation

Revenue

$8,429,024

Expenses

$10,661,657

Employee compensation

$733,360
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Joseph A Smith Jr
PRES and BOAR
$650,000
$650,000 No related compNo other comp
John Allison
Treasurer and Secretary
$78,500
$78,500 No related compNo other comp
Christine Hood
Assistant Secretary
$0

Benchmark Employee Compensation

Non-Employee Board Members

Keith Pigues
Director
$27,000
$27,000 No related compNo other comp
Donald Pape
Director
$27,000
$27,000 No related compNo other comp
Bonnie Hancock
Director
$27,000
$27,000 No related compNo other comp

Contractors

Crowe Chizek LLP
Comp Monitoring
$6,057,292
Bdo USA LLP
Comp Monitoring
$3,715,208
Rsm US LLP
Comp Monitoring
$1,913,066
Poyner Spruill LLP
Comp Monitoring
$1,262,044
Baker Tilly Virchow Krause LLP
Comp Monitoring
$602,495

Mission Statement

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.

Revisions to this organization profile

December 12, 2019:
2019 Office of Mortgage Settlement Oversight 990 filed
January 21, 2019:
2018 Office of Mortgage Settlement Oversight 990 filed
February 7, 2018:
2017 Office of Mortgage Settlement Oversight 990 filed

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