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 Z Ability-to-Repay and Qualified Mortgage Risk Assessment provides a framework upon which the risk related to determining ability to repay, on consumer credit transactions secured by a dwelling, is evaluated.
