Texas Department of Savings and Mortgage Lending Receives Mortgage Reaccreditation
Washington, D.C. – (RealEstateRama) — The Conference of State Bank Supervisors (CSBS), and the American Association of Residential Mortgage Regulators (AARMR) announced today that the Texas Department of Savings and Mortgage Lending (the Department or SML) has received a certificate of accreditation for mortgage supervision. This reaccreditation certifies that the Department maintains the standards and practices in state supervision set by the CSBS/AARMR Mortgage Accreditation Program. Caroline C. Jones serves as the Commissioner of the Department
“Congratulations to Commissioner Jones and her staff for achieving this reaccreditation,” said CSBS President and CEO John W. Ryan. “This serves as affirmation that the Texas Department of Savings and Mortgage Lending maintains the highest standards in supervision.”
“By achieving AARMR/CSBS Accreditation, Commissioner Jones and her staff demonstrate that their value to Texas’ consumers through the operation of a capable, professional regulatory program,” said AARMR President Rod Carnes.
To achieve mortgage accreditation, state agencies must undergo a voluntary comprehensive review by the CSBS and AARMR accreditation team. The accreditation process begins with the completion of an extensive self-evaluation questionnaire on all department operations, including administration and finance, personnel, training, examination, supervision, and legislative powers. Next, an external review team comprised of veteran regulators performs an on-site review and presents its findings to the Performance Standards Committee (PSC). The PSC then votes on the reports of the review team.
# # #
Media Contacts:
Matthew Longacre, Manager of Communications, mlongacre (at) csbs (dot) org or 202.803.8091
About CSBS
The Conference of State Bank Supervisors (CSBS) is the nationwide organization of banking regulators from all 50 states, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands. State banking regulators supervise approximately 4,850 state‐chartered financial institutions. Further, most state banking departments also regulate a variety of non-bank financial services providers, including mortgage lenders. For more than a century, CSBS has given state supervisors a national forum to coordinate supervision of their regulated entities and to develop regulatory policy. CSBS also provides training to state banking and financial regulators and represents its members before Congress and the federal financial regulatory agencies.
About AARMR
The American Association of Residential Mortgage Regulators (AARMR) is the national organization representing state residential mortgage regulators. AARMR’s mission is to promote the exchange of information and education concerning the licensing, supervision and regulation of the residential mortgage industry, to ensure the ability of state mortgage regulators to provide effective mortgage supervision for a safe and sound industry meeting the needs of the local financial markets and to protect the rights of consumers.
