CSBS and AARMR Statement on FHFA and Ginnie Mae Requirements Alignment
State regulators represented by the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) commend FHFA and Ginnie Mae’s significant strides toward aligning their capital and liquidity requirements for nonbank mortgage companies.
As the primary supervisors of nonbank mortgage companies, state financial regulators strongly support greater coordination across all mortgage supervisors and are encouraged by this development. CSBS’s 2021 Model State Regulatory Prudential Standards for Nonbank Mortgage Servicers already significantly aligned its financial condition requirements with FHFA’s capital and liquidity requirements. Today’s announcement brings state and federal areas of supervision closer together.
In the coming weeks, CSBS will review its model prudential standards to identify further opportunities for alignment with FHFA and Ginnie Mae. As states move forward with implementing the model prudential standards, better information sharing between FHFA, Ginnie Mae and the states will be critical for determining company adherence to aligned standards.
Media Contact: Laura Fisher, 202-812-9813, [email protected]
The Conference of State Bank Supervisors (CSBS) is the national organization of bank regulators from all 50 states, American Samoa, District of Columbia, Guam, Puerto Rico and U.S. Virgin Islands. State regulators supervise 79% of all U.S. banks and a variety of non-depository financial services. CSBS, on behalf of state regulators, also operates the Nationwide Multistate Licensing System to license and register non-depository financial service providers in the mortgage, money services businesses, consumer finance and debt industries.
Aug 17, 2022
Mar 4, 2021
Mar 3, 2021
Subscribe to CSBS
Stay up to date with the CSBS newsletter