Introduction to Becoming an MMC EIC

RESTRICTED

No Concurrent Examinations State agencies adhering to this Protocol should seek to avoid scheduling single state examinations concurrent to an OCOE. The goal is to have no other examinations overlap with an OCOE starting from the onsite start date (as set forth in the OCOE schedule) to at least six months after the onsite start date. In instances where a state agency has a statutorily required deadline to examine the OMC in a given year, the MMC will coordinate with all such state agencies to ensure each agency has the opportunity to comply with the applicable state-specific examination frequency requirements. See Lead State Agency and Participating Agency Selection above for more information. State agencies are encouraged to utilize the Exam Scheduling functionality in SES 14 , which allows agencies to share examination schedules creating immediate opportunities for agencies to schedule joint exams, accept exams, or leverage the results of another exam in lieu of conducting an independent exam. Use of the Exam Scheduling functionality also allows the MMC to proactivity identify potential scheduling conflicts when creating the OCOE schedule. Examination Moratorium The 12-month Examination Moratorium begins on the onsite start date. The Moratorium only applies to the business activities and AFRs examined during the OCOE. The purpose of the Moratorium is to provide regulatory relief to the OMC without overly constraining an agency’s ability to supervise the entity in review areas not covered during the OCOE. The application and length of the Moratorium is contingent upon the exam ratings and factors that may require immediate regulatory supervision or action. Any OCOE with an overall rating of “4” or “5” 15 shall not qualify for the Moratorium as defined by this Protocol. Other factors that can nullify the Moratorium include, but are not limited to, financial condition risks, consumer complaints, and state or federal enforcement actions. Any decision to adjust or nullify the Moratorium will be determined by the MMC and communicated to all agencies and the OMC. Leveraging state agencies, along with non-participating and non-accepting state agencies are requested to observe the 12-month Moratorium by not scheduling or conducting an examination that overlaps (and therefore conflicts) with the scope of the OCOE. The MMC will not conduct another OCOE of the OMC during the Moratorium unless the Moratorium is nullified for an exam rating or other factor listed above. This Protocol does not prevent a state agency from investigating complaints outside of an examination.

14 SES Portal: Using Exam Scheduling 15 All “4” or “5” rated examinations are immediately elevated to the NDSC for further consideration.

One Company, One Exam Mortgage / Protocol Page 10 of 12