2018-02-07T14:50:09-06:00 2017-06-30 560574444 CHERRY BEKAERT LLP 1111 Metropolitan Ave Ste 1000 Charlotte NC 28204 990 2016-07-01 454458511 Office of Mortgage Settlement Oversight OFFI 9198254748 301 Fayetteville Street No 1801 Raleigh NC 27601 JOSEPH A SMITH JR PRESIDENT & DIRECTOR 9198254748 2018-02-05 1 Amanda Adams P00748038 7043771678 38.142.98.34 2018-02-05 14:04:04 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 18694F53AD11E15FFCEA276DE93F63B2E746D691 2016 2021-01-29 14:40:06Z JOSEPH A SMITH JR 301 Fayetteville Street No 1801 Raleigh NC 27601 20352390 0 X https://www.mortgageoversight.com/ X 2012 NC see schedule o. 5 3 3 0 0 0 0 0 64161207 20346308 5408 6082 0 0 64166615 20352390 0 50000 0 0 964689 874252 0 0 0 56844178 23425719 57808867 24349971 6357748 -3997581 19017753 11269674 5729457 1978959 13288296 9290715 X See description noted on Schedule O. 0 0 22983783 50000 20346308 See description noted on Schedule O. 22983783 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 17 0 1 3 1 0 0 0 0 0 0 X 5 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X John Allison 9198254734 301 Fayetteville St Suite 1801 RALEIGH NC 27601 Joseph A Smith Jr President and Board Chair 40.00 X X 650000 0 0 John Allison Treasurer, Secretary and CFO 15.00 X X 73150 0 0 Bonnie Hancock Director 2.50 X 27750 0 0 Donald Pape Director 4.00 X 27750 0 0 Keith Pigues Director 2.50 X 27750 0 0 Christine Hood Assistant Secretary 40.00 X 0 0 0 806400 0 0 1 0 1 0 BDO USA LLP PO BOX 642743 PITTSBURGH PA 152642743 COMPLIANCE MONITORING 15234785 Baker Tilly Virchow Krause LLP 8219 Leesburg Pike 800 Tysons VA 22182 COMPLIANCE MONITORING 10827033 CROWE CHIZEK LLP PO BOX 145415 CINCINNATI OH 45250 COMPLIANCE MONITORING 9456264 RSM US LLP 331 WEST 3RD ST SUITE 200 DAVENPORT IA 52801 COMPLIANCE MONITORING 4053172 Poyner Spruill 301 Fayetteville Street Suite 2900 Charlotte NC 27601 COMPLIANCE MONITORING 2030784 10 SETTLEMENT INCOME 900099 20346308 20346308 20346308 6082 6082 20352390 20346308 0 6082 X 50000 50000 784000 784000 65580 65580 24672 24672 94563 94563 36000 36000 22803220 22803220 155968 155968 38522 38522 141487 141487 35199 35199 120760 120760 24349971 22983783 1366188 0 18457105 10827057 560648 442617 19017753 11269674 5729457 1978959 5729457 1978959 X 13288296 9290715 13288296 9290715 19017753 11269674 -3997581 0 X X 0 1 X 1 0 0 X Part X, Line 2: OMSO received Internal Revenue Service ("IRS") approval as a tax exempt organization on December 12, 2013 under Section 501(c)(4) of the Internal Revenue Code, and accordingly, is not subject to federal income tax. Management has evaluated the effect of the guidance provided by U.S. Generally Accepted Accounting Principles on Accounting for Uncertainty in Income Taxes. Management believes that OMSO continues to satisfy the requirements of a tax-exempt organization at June 30, 2017. Management has evaluated all other tax positions that could have a significant effect on the consolidated financial statements and determined OMSO had no uncertain income tax positions at June 30, 2017. OMSO's federal Exempt Organization Business Income Tax Returns (Form 990) are subject to examination by the IRS, generally for three years after they are filed. 1 UNC LAW FOUNDATION INC 160 RIDGE ROAD CB 3380 CHAPEL HILL NC 275993380 560934173 170(C)(1) 50000 NMS DIGITAL COLLECTION FUND 1 Part I, Line 2: OMSO has entered into an agreement with the UNC Law Foundation, Inc. establishing the National Mortgage Settlements Digital Collection Fund. The use of the funds granted by OMSO are subject to various conditions and restrictions. The purpose of the grant was for University of North Carolina School of Law and its Law Library to hold preserve, and ensure the accessibility of certain OMSO records for future use and reference. X X X 0 0 0 0 0 0 0 0 1 1 Joseph A Smith Jr President and Board Chair 650000 0 0 0 0 0 0 0 0 0 650000 0 0 0 Part I, Line 8 The selection of the Monitor was made by agreement of all of the parties to the five consent judgements that comprise the Settlement. The OMSO Board of Directors does not have the right to terminate or replace the Monitor. The compensation of the Monitor is approved through the adoption process of the OMSO budget, where the Monitor expressly submits to the servicers that are subject to the Settlement and to a Monitoring Committee representing the government parties an annual budget that expressly discloses the Monitor's compensation, which budget is implemented absent an objection. Thus, the Monitor's compensation is subject to the initial contract exception under Treasury Regulation Section 53.4958-4(a)(3). Nevertheless, the compensation of the Monitor is reviewed by the OMSO Board of Directors in a process that follows the rebuttable presumption procedure described in Treasury Regulation Section 53.4958-6(c). 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 NOT-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. FOR FURTHER INFORMATION SEE THE 2016 OMSO ANNUAL REPORT AT: WWW.MORTGAGEOVERSIGHT.COM. Form 990, Part VI, Section B, line 11b THE FORM 990 HAS BEEN REVIEWED BY THE AUDIT COMMITTEE AND THEN THE ENTIRE BOARD OF DIRECTORS PRIOR TO ITS FILING. Form 990, Part VI, Section B, line 12c Each director and officer is required on at least an annual basis to disclose any known conflicts. The OMSO management regularly and consistently monitors and enforces the policy. In the event of a potential conflict, the director or officer will recuse himself/herself from deliberation and voting on the issue. Form 990, Part VI, Section B, line 15 As part of the corporate governance for the Office of Mortgage Settlement Oversight ("OMSO"), the Board of Directors of OMSO consults with its general counsel, Brooks, Pierce, McLendon, Humphrey & Leonard, L.L.P. and Pearl, Meyer and Associates, an independent executive compensation firm, to advise them on the reasonableness of proposed compensation for all officers and members of the board of directors. In addition, the Monitor's compensation is approved as part of a budget approved by a committee created under the Settlement. Form 990, Part VI, Section C, line 19 The organization's governing documents, conflict of interest policies, financial statements and annual reports are available to the public upon request. Form 990, Part IX, line 11g PROFESSIONAL FEES monitoring compliance: Program service expenses 22,614,008. Management and general expenses 0. Fundraising expenses 0. Total expenses 22,614,008. communications: Program service expenses 189,212. Management and general expenses 0. Fundraising expenses 0. Total expenses 189,212. FORM 990, PART IX, LINE 11G: OTHER EXPENSES: THIS SCHEDULE OF EXPENSES IDENTIFIES THE DIRECT COSTS FOR THE MONITOR TO CARRY OUT HIS DUTIES UNDER THE SETTLEMENT AND ARE NOT SPECIFIC TO THE OPERATION OF THE OMSO CORPORATE OFFICE. Form 990, Part XII, Line 2c: THE AUDIT COMMITTEE OF THE OMSO BOARD OF DIRECTORS. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. OMSO OCWEN LLC 301 FAYETTEVILLE STREET SUITE 1801 RALEIGH NC 27601 MONITORING NC 11489033 1001059 Office of Mortgage Settlement Oversight OMSO ST LLC 301 FAYETTEVILLE STREET SUITE 1801 RALEIGH NC 27601 MONITORING NC 10913182 4176719 OFFice of Mortgage Settlement Oversight OMSO HSBC LLC 301 FAYETTEVILLE STREET SUITE 1801 rALEIGH NC 27601 Monitoring NC 9455701 4854011 OFFice of Mortgage Settlement Oversight