Description
Examiners expect all financial institutions to conduct and document a comprehensive, ongoing, institution-wide risk assessment. The Risk Assessment evaluates and rates inherent risk, the quality of controls and residual risk. Benchmarks are provided for each rating for each factor. The Flood Insurance Update Risk Assessment provides a framework upon which the risk related to the laws and regulations related to obtaining and maintaining flood insurance on mortgage loans measured.
Reviewed 09.01.2020
