WASHINGTON — Comptroller Thomas Curry argued Wednesday that regulators had no choice but to halt the independent foreclosure review process in favor of faster payouts to affected borrowers.

In a speech before the Women in Housing and Finance, Curry said the independent review process, in which consultants were hired to review the largest servicers loan-by-loan, was too cumbersome and was taking too much time.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.