Intro to Becoming an MMC EIC eBook

Internal Use Only

Multistate Mortgage Committee (MMC) What is the OCOE? • One Company, One Exam Protocol (Regulator-only website) • Encourages agencies to participate in (limit 10), leverage, or accept • Purpose is to implement a standardized mortgage exam process and to reduce regulatory burden • Overseen by NDSC and MMC • Sets forth roles and responsibilities of all participants including EIC • Defines the 12-month exam moratorium that begins on the onsite start date and requests that agencies avoid scheduling concurrent exams. • MMC is responsible for identifying and scheduling

Internal Use Only

Multistate Mortgage Committee (MMC) What does the MMC do? • Schedules and administers multistate mortgage exams and has conducted 49 multistate exams since 2018, including 3 OCOEs (counting the 2021 OCOE Pilot) • Works closely with the Risk Profiling Group (RPG) to determine the multistate mortgage entities (MMEs) to examine each year • Beginning in 2025, all MMC exams will be designated as OCOEs • Works closely with Consumer Financial Protection Bureau (CFPB) to conduct 2-3 coordinated exams annually • Conducts a minimum of 10 OCOEs annually