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 Force-Placed Insurance Risk Assessment provides a framework upon which the risk related to the §1024.37 requirements for force-placing hazard insurance on mortgage loans is evaluated.
Reviewed 10.1.2020
