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 Miscellaneous Escrow Risk Assessment provides a framework upon which the risk related to the revised §1024.17(k) rules for escrows on federally related mortgage loans is evaluated.
