Skip Navigation Links
2013 Press Releases
Register Now for the 2013 NMLS Annual Conference and Training
New SAFE MLO Test with Uniform State Component to Start April 1
Statement on CFPB Mortgage Servicing Transfer Bulletin
State Regulators Support CFPB’s Small Creditor Proposal under Ability to Repay
Missouri Division of Finance Receives Re-Accreditation
Multi-State Mortgage Committee Issues 2012 Annual Report to State Regulators
Three Appointed to FFIEC State Liaison Committee
New SAFE MLO Test with Uniform State Content Now Available
CSBS Proposes CFPB Adopt a Rural Designation Petition Process
State Bank Regulators Support Bill Restricting Online Payday Lending
Chairman of FFIEC State Liaison Committee Announced
Federal Reserve, CSBS To Host Community Banking Research Conference
Federal Reserve’s Foreign Bank Proposal Should Further Contemplate Existing State Supervision
Lawson Appointed to FFIEC State Liaison Committee
CSBS Releases 2012 Annual Report
James M. Cooper Named CSBS Senior Vice President
CSBS Announces 2013-2014 Board & Officers
CSBS and CFPB Sign Supervisory Framework
CSBS Immediate Past Chairman Calls for Balanced Financial Supervision
New CSBS Chairman Outlines Priorities
CSBS Warns Against Costly and Burdensome Accounting Standards
FFIEC Forms Cybersecurity and Critical Infrastructure Working Group
State Regulator Testifies on the Perils of One-Size-Fits-All Supervision
Ten More States to Use Uniform Mortgage Test; 30 States Now Using the Test
Approach to Basel III Respects Industry Diversity
NMLS 2013 State, Federal Mortgage Industry Reports Released
Michael J. Belak Named CSBS Vice President
North Dakota Banking Department Maintains Highest Standards in Bank Supervision
Iowa Division of Banking Receives Bank Re-accreditation
CSBS Supports Appointment of Steve Antonakes as CFPB Deputy Director
Oct. 2-3 Fed/CSBS Community Banking Research Conference To Be Broadcast Live from St. Louis
H. Catherine Woody Promoted to Vice President, Media & Industry Relations
Five More States to Use Uniform Mortgage Test; 35 States Now Using the Test
Federal Reserve and CSBS Release 2013 Community Banking Report
Georgia Department of Banking and Finance Receives Re-accreditation
CSBS Highlights Fed Board’s Evolving Composition, Supervisory Role
Texas Department of Banking Receives Re-Accreditation
CSBS Announces Promotions in its Technology, SRR Divisions
President Should Consider Supervisory Experience When Filling Fed Board
States Look to Coordination and Existing Regulatory Framework to Oversee Virtual Currencies
State Regulators to Discuss 2014 Outlook in On-the-Record Session with Media
Michigan Department of Insurance and Financial Services Office of Banking Receives Re-Accreditation
CSBS White Paper Encourages Federal Policymakers to Right-Size Regulations
Nebraska Department of Banking and Finance Maintains Highest Standards of Bank Supervision
Print-Friendly   |   Email-A-Friend 


Media Release

Conference of State Bank Supervisors
1129 20th Street, NW, 9th Floor, Washington, DC, 20036

American Association of Residential Mortgage Regulators
1025 Thomas Jefferson Street, NW, Suite 500 East, Washington, DC, 20007

 Multi-State Mortgage Committee Issues 2012 Annual Report to State Regulators   

Washington, D.C. – The Multi-State Mortgage Committee (MMC, or the Committee) released today its 2012 annual report highlighting accomplishments of the Committee in 2012.

The MMC spent a considerable amount of time in the mortgage servicing area during 2012.  Those efforts helped contribute to the successful culmination of the historic $25 billion National Mortgage Settlement with the five largest mortgage servicers.  Through a partnership with state attorneys general, the settlement will help many homeowners remain in their homes and avoid foreclosure through loan modifications. 

Other initiatives achieved by the MMC in 2012 include:

• Creation of a collaborative website for examinations;
• Refining the Limited Scope Electronic Examination platform;
• Development of an anti-money laundering examination module;
• Completion of SAFE Examination Guidelines;
• Establishing MMC operating procedures; and
• Formalizing the MMC Information Sharing Protocol with the CFPB.

“The efforts of the MMC over the past year have greatly enhanced and refined our coordinated supervisory efforts over large, multi-state mortgage lenders and servicers,” said Cynthia Begin, President of the American Association of Residential Mortgage Regulators and Chief Risk Officer at the Massachusetts Division of Banks.  “Through the increased use of technology and the successful development and testing of a risk-profiling model, state mortgage regulators are now able to effectively risk scope examinations and prioritize our coordinated resources.  With such measurable achievements, the MMC has and will continue to enhance the overall system of state mortgage supervision.”

“In 2013 technology will continue to be paramount in coordinating and enabling state mortgage regulators to efficiently and effectively do their work,” said Charlie Fields, Chairman of the MMC and Director of Non-Depository Entities at the North Carolina Office of the Commissioner of Banks.  “The MMC will continue to stress the use of technology in the examination process to create a more comprehensive, less burdensome assessment of the mortgage industry.”

The MMC was created in 2008 by state financial regulators through the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators. The MMC is charged with coordinating the examination and supervision of those mortgage lenders and brokers operating in more than one state.  The MMC is comprised of 10 members who are elected by the boards of CSBS and AARMR.

The MMC 2012 Annual Report is available here.

#  #  #
©2017 CSBS   Terms of Use \ Privacy Policy \ Site Map
1129 20th Street, N.W., 9th Floor  \  Washington, DC  \  20036  \  Tel. 202.296.2840  \  Fax. 202.296.1928