New Hampshire Banking Department Receives Certificate of Mortgage Supervision Accreditation

WASHINGTON, D.C. – February 26, 2014 – (RealEstateRama) — The Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) announced this week that the New Hampshire Banking Department (Department) has received a certificate of accreditation for mortgage supervision. This accreditation certifies that the Department maintains the highest standards and practices in mortgage supervision set by the CSBS and AARMR Mortgage Accreditation Program.

“I am so proud and pleased that our staff has been recognized for their hard work and dedication to protecting New Hampshire consumers, while fostering a healthy marketplace through reasonable supervision,” said Glenn Perlow, Commissioner of the New Hampshire Banking Department. “Consumer access to a broad range of competitive residential mortgage products is critical to the state’s economic recovery.”

“New Hampshire is on the leading-edge of mortgage supervision as it is now the fourteenth state agency to receive a certificate of mortgage accreditation,” said CSBS President and CEO John W. Ryan. “Congratulations to Commissioner Perlow and his team on attaining this accreditation.”

“The Mortgage Accreditation Program aims to strengthen and promote excellence in state mortgage supervision while minimizing regulatory burden,” said Cindy Begin, AARMR President and Chief Risk Officer of the Massachusetts Division of Banks. “The New Hampshire Banking Department voluntarily went through a comprehensive review of the Department’s mortgage division and its personnel. Upon completion, the accreditation team determined the Department satisfies the high standards necessary to receive mortgage accreditation,” Begin said.

To achieve mortgage accreditation, state agencies must undergo a voluntary comprehensive review of the CSBS and AARMR accreditation team. The accreditation process begins with the completion of an extensive self-evaluation questionnaire on all department operations, including administration and finance, personnel, training, examination, supervision, and legislative powers. Next, an external review team comprised of veteran state regulators performs an on-site review and presents its findings to an audit team and to the Performance Standards Committee, the members then vote on the reports of the review team and the audit team.
# # #

Media Contacts:
Catherine Woody, Vice President of Media and Industry Relations, cwoody (at) csbs (dot) org or 202.728.5733
Rockhelle Johnson, Senior Manager, Communications, rjohnson (at) csbs (dot) org or 202.407.7156
Matt Longacre, Manager, Communications, mlongarce (at) csbs (dot) org or 202.803.8091

The Conference of State Bank Supervisors (CSBS) is the nationwide organization of banking regulators from all 50 states, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands. State banking regulators supervise almost 5,200 state‐chartered financial institutions. Further, most state banking departments also regulate a variety of non-bank financial services providers, including mortgage providers. For more than a century, CSBS has given state supervisors a national forum to coordinate supervision of their regulated entities and to develop regulatory policy. CSBS also provides training to state banking and financial regulators and represents its members before Congress and the federal financial regulatory agencies.

The American Association of Residential Mortgage Regulators (AARMR) is the national organization representing state residential mortgage regulators. AARMR’s mission is to promote the exchange of information and education concerning the licensing, supervision and regulation of the residential mortgage industry, to ensure the ability of state mortgage regulators to provide effective mortgage supervision for a safe and sound industry meeting the needs of the local financial markets and to protect the rights of consumers.

SHARE
Previous articleUNH Stormwater Center Awarded Nearly $1M from EPA for Philadelphia Green Infrastructure Project
Next articleAt Environmental Business Council luncheon, Shaheen highlights economic and environmental benefits of bipartisan bill