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Define Office of Thrift Supervision (OTS) in Real Estate

Office of Thrift Supervision (OTS): 

Office of Thrift Supervision (OTS): The OTS was a part of the U.S. government responsible for making sure savings and loan associations, also known as thrifts, followed the rules and operated responsibly. Their job was to keep an eye on these financial institutions to ensure they were safe and reliable for people to save their money.

Note: The OTS was merged into the Office of the Comptroller of the Currency (OCC) in 2011, and the OCC now oversees the responsibilities previously held by the OTS.

Example: 

Imagine a savings and loan association taking too many risks when lending money to people who might not be able to pay it back. The OTS would step in to investigate and ensure the thrift was following the rules. If the thrift was found to be acting irresponsibly, the OTS could take action to correct the problem and make sure it operated safely.

"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"

In a time not long ago,
The OTS was on the go,
They watched the thrifts, both near and far,
Ensuring savings stayed up to par.

When thrifts took risks or bent the rules,
The OTS brought out their tools,
Investigating, making right,
Ensuring thrifts stayed in the light.

But times have changed, and now you see,
The OCC is where they'd be,
The OTS has merged and gone,
But the OCC keeps watching on.