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 Regulation B Appraisal Rules Risk Assessment provides a framework upon which the risk related to the revised 12 CFR 1002.14 appraisal and valuation requirements for credit secured by a first lien on a dwelling are evaluated.
01.21.2021