WASHINGTON, D.C. – The Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) announced that the Louisiana Office of Financial Institutions, Mortgage Section has received a certificate of accreditation for mortgage supervision, certifying that the Office maintains the standards and practices in state mortgage supervision set by the CSBS/AARMR Accreditation Program.  The Louisiana Office of Financial Institutions is the seventh state to receive accreditation for mortgage supervision.

The Office of Financial Institutions is responsible for the licensing and supervision of various institutions and entities that provide financial services to the citizens of the State of Louisiana, in order to protect and serve the public interest and enhance confidence in the financial services industry.

John P. Ducrest was first appointed Commissioner of the Office of Financial Institutions in June 2004 and was reappointed in January 2008.  A native and resident of Broussard, Louisiana, Ducrest has been with the Office for over 25 years. He spent many years as a financial examiner conducting safety and soundness examinations, before being named Deputy Chief Examiner in 1994.  Ducrest received his B.S. from the University of Louisiana at Lafayette and completed graduate work at the Graduate School of Banking at Louisiana State University.

Commissioner Ducrest commented, "Our agency has dedicated significant time and effort to become more proactive in the regulation of Louisiana mortgage providers. The agency's accreditation recognizes this and the diligent work and achievements of its dedicated staff."

“Commissioner Ducrest and the Louisiana Office of Financial Institutions have demonstrated their commitment to the highest standards of mortgage supervision and regulation,” said Neil Milner, President and CEO of CSBS. “This esteemed accreditation reaffirms their dedication to both the citizens and financial service providers of Louisiana.”

AARMR President Darin Domingue stated, "Congratulations to Commissioner Ducrest and his staff for meeting the high standards required to achieve accreditation."

CSBS/AARMR accreditation seeks to strengthen state banking departments and mortgage agencies and to demonstrate the high quality of state regulatory agencies to the general public, the federal banking agencies, Congress, and other state regulatory agencies.
The accreditation process begins with completion of an extensive self-evaluation questionnaire on all department operations: administration and finance, personnel, training, examination, supervision, and legislative powers. Next, an external review team comprised of veteran state and federal regulators performs an on-site review and presents its findings to an audit team and to the Performance Standards Committee, the members of which vote on the reports of the review team and the audit team.