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
