By the Division of Banks



 

Mortgage Lenders Tentatively Scheduled for a Mortgage Lender Community Investment (MLCI) Examination by the Division of Banks During the Third Quarter, 20161
InstitutionLocation
American Neighborhood Mortgage Acceptance Company LLCMount Laurel, NJ
Quicken Loans Inc.Detroit, MI
Top Flite Financial, Inc.Williamston, MI

1 The schedule of institutions to be examined between July 1, 2016 and September 30, 2016 is based upon the best information now available.  Examination schedules may change; unanticipated complex issues could arise, for example, that may require more time and resources than originally allotted, thus delaying completion of an examination and delaying other scheduled examinations. 

The Division established alternative examination procedures for the CRA at certain mortgage lenders under Regulatory Bulletin 1.3-105. The alternative examination procedures are applicable to CRA eligible mortgage lenders who received a rating "High Satisfactory" or "Outstanding" at their most recent CRA examination conducted by the Division. This procedure is designed to reduce cost to the institution, decrease regulatory burden, and provide incentive for superior CRA performance. Best efforts will be employed by the Division to grant scheduling accommodations requested by the institution should conflicts arise.

The Division will extend the examination cycle for all "Outstanding" and "High Satisfactory" rated mortgage lenders, conducting the CRA examination no sooner than 60 months following the prior Division CRA examination. The Division will continue to examine all other institutions at least once every 48 months.

The Division reserves the right to examine an institution on a shorter interval if interim data received from an institution indicates a deviation from the previous CRA rating or to accommodate a request from the institution to coordinate with an examination being conducted by another supervisory agency.

The quarterly publication of the planned examination schedule will also apply, and the Division encourages written comments regarding the institution's CRA performance as detailed in 209 CMR 54.21.

Exceptions

The Division reserves the right to examine any institution at any time due to written complaints, regulatory concerns, or any other issues which would require on-site examination or follow-up.

If you have any questions regarding the Division’s examination schedule, please call (617) 956-1546.

 


 

Mortgage Lenders Tentatively Scheduled for a Mortgage Lender Community Investment (MLCI) Examination by the Division of Banks During the Second Quarter, 20162
Academy Mortgage CorporationSandy, UT
Amerisave Mortgage CorporationAtlanta, GA
Embrace Home Loans, Inc.Newport, RI
Fairway IndependentMadison, WI
Franklin American Mortgage CompanyFranklin, TN
Regency MortgageHooksett, NH

2 The schedule of institutions to be examined between April 1, 2016 and June 30, 2016 is based upon the best information now available.  Examination schedules may change; unanticipated complex issues could arise, for example, that may require more time and resources than originally allotted, thus delaying completion of an examination and delaying other scheduled examinations. 

The Division established alternative examination procedures for the CRA at certain mortgage lenders under Regulatory Bulletin 1.3-105. The alternative examination procedures are applicable to CRA eligible mortgage lenders who received a rating "High Satisfactory" or "Outstanding" at their most recent CRA examination conducted by the Division. This procedure is designed to reduce cost to the institution, decrease regulatory burden, and provide incentive for superior CRA performance. Best efforts will be employed by the Division to grant scheduling accommodations requested by the institution should conflicts arise.

The Division will extend the examination cycle for all "Outstanding" and "High Satisfactory" rated mortgage lenders, conducting the CRA examination no sooner than 60 months following the prior Division CRA examination. The Division will continue to examine all other institutions at least once every 48 months.

The Division reserves the right to examine an institution on a shorter interval if interim data received from an institution indicates a deviation from the previous CRA rating or to accommodate a request from the institution to coordinate with an examination being conducted by another supervisory agency.

The quarterly publication of the planned examination schedule will also apply, and the Division encourages written comments regarding the institution's CRA performance as detailed in 209 CMR 54.21.

Exceptions

The Division reserves the right to examine any institution at any time due to written complaints, regulatory concerns, or any other issues which would require on-site examination or follow-up.

If you have any questions regarding the Division’s examination schedule, please call (617) 956-1546.