Bonnie Hancock, executive director in the NC State Poole College of Management’s Enterprise Risk Management Initiative and lecturer in the college’s Department of Accounting, was appointed to the Office of Mortgage Settlement Oversight (OMSO) Board of Directors. The appointment was announced this week by Joseph A. Smith, Jr., monitor of the national mortgage servicing settlement.
Smith established the Office of Mortgage Settlement Oversight in April 2012 to support his duties as outlined in the settlement agreement. As a non-profit, Smith’s office recruited five board members to manage business operations of the organization. In addition to Hancock, the following were also appointed to the board:
- John S. Allison, former banking commissioner of the State of Mississippi
- James E. Holshouser, a Pinehurst lawyer and former Governor of the State of North Carolina
- Donald A. Pape, counsel to the law firm of Phillips Murrah P.C.; and
- D. Keith Pigues, Dean of the School of Business at North Carolina Central University.
“I am proud that the Office of Mortgage Settlement Oversight will itself be overseen by this illustrious group of board members,” said Smith. “The OMSO Board combines diverse perspectives of experienced professionals who will continue to provide the counsel and oversight needed to conduct the company’s business successfully.”
The role of the Office of Mortgage Settlement Oversight Board of Directors is to oversee business operations of OMSO. The Board of Directors will not have any role in overseeing the national mortgage settlement. All responsibilities charged to Smith as monitor will remain solely with him.