Less Than 4 Percent of Lenders 'Acceptable' According To New Risk Assessment Tool

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Posted To: MND NewsWire

Risk profiling of mortgage license holders was one of the focuses of 2012 activity by the Multi-State Mortgage Committee (MMC) of the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators. The committee issued a report on Friday detailing its 2012 activities which also included participation in work leading up to the $25 billion National Mortgage Servicing Settlement. Committee Chairman Charlie Fields, Director of Non-Depository Entities at the North Carolina Office of the Commissioner of Banks said the MMC's Risk Profiling Group (RPG) has been working on a risk profiling tool designed to assess an institution's risk against its peer group based on an analysis of Mortgage Call Report (MCR) data. A risk analysis of 281 companies holding licenses...(read more)

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Source: http://www.mortgagenewsdaily.com/03112013_mortgage_licensing.asp

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