Regulation X Continuity of Contact Risk Assessment

$50.00

The Regulation X Continuity of Contact Risk Assessment provides a framework upon which the risk related to §1024.40 of Regulation X, which establishes requirements for continuity of contact for borrowers with delinquent mortgage loans, is evaluated.

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 X Continuity of Contact Risk Assessment provides a framework upon which the risk related to §1024.40 of Regulation X, which establishes requirements for continuity of contact for borrowers with delinquent mortgage loans, is evaluated.

 

Reviewed 10.01.2020