Introduction to Becoming an MMC EIC

RESTRICTED State agencies that have a statutory requirement to examine an OMC in the year in which the MMC scheduled an OCOE for the OMC must have the opportunity to join the examination before all others, with the exception of the Home State Agency. In instances where more than 10 state agencies have a statutorily required deadline to examine the OMC in a given year, the MMC must coordinate with all such state agencies to ensure each can exercise its supervisory authority over the company. Additional factors may also be used to determine the participating agencies, including EIC experience, agency examination frequency obligations, and other supervisory considerations. The MMC must ensure that all state agencies who express interest in participating in one or more OCOEs during each examination cycle have the ability to participate. While limiting the number of participants, the MMC may simultaneously remind and encourage state agencies to accept or leverage the results of an OCOE to reduce the regulatory burden of the company being examined and free up examination resources. Examiner-in-Charge For each OCOE, the MMC is responsible for selecting the lead state agency who assigns the Examiner-in-Charge (EIC). The lead agency must be a participating agency on the OCOE. The EIC is responsible for managing the OCOE from start to finish, including communicating and coordinating with the company on behalf of the participating agencies and ensuring the OCOE remains on schedule. Specifically, the EIC, supported by a Single Point of Contact (SPOC) 12 and the MMC Liaison 13 should: • Serve as the main contact for the OMC on behalf of the examination team. • Maintain regular communications with the multi-state examination team, OMC, SPOC, MMC Liaison, and CSBS support staff. This includes holding regular examination team meetings, coordinating onsite and offsite activities, and providing progress reports. • Disseminate information provided by the OMC to the participating examiners. • Assign examination work to the participating examiners and review their work. • Track all responses, assignments, due dates, and other action items to ensure the OCOE remains on track and meets all scheduled milestone dates. • Identify and escalate issues when needed. • Manage the drafting and preparation of the ROE and recommend an examination rating. • Conduct the exit meeting and oversee the completion of the OCOE. The EIC has the most significant role in an OCOE. The EIC must be a skilled mortgage examiner with multiple years of experience leading examinations of MMEs. The EIC must also have an active SES user account and experience conducting mortgage examinations in SES. Each state agency should commit to EIC or SPOC one OCOE at least every third year and the MMC will track agency involvement to ensure state agencies are active participants.

12 MMC Mortgage Examination Manual: The SPOC serves as a mentor/adviser to and between the EIC and examiners from the participating state agencies and serves as a liaison to help strengthen communication between the EIC and MMC and EIC and participating agencies. The SPOC acts as a resource to help address complex or sensitive issues and participates with the EIC in meetings conducted with the examination team and OMC. 13 MMC Liaison is a committee member of the MMC assigned to oversee the examination on behalf of the committee.

One Company, One Exam Mortgage / Protocol Page 8 of 12