Introduction to Becoming an MMC EIC

RESTRICTED Accepting and Leveraging Agencies Accepting Agencies

Accepting state agencies may accept the results of an OCOE once it is completed and closed in SES. An accepting state agency agrees to accept the results of an OCOE without the need to conduct a targeted examination or request additional documentation from the OMC. Upon completion of the OCOE, all accepting state agencies will be notified of the examination reaching the closed status. An accepting state agency is not a participating agency on the OCOE. For more information regarding the acceptance process, refer to the “Accepting a Supervisory Activity” resource in the SES Portal. 16 To meet mortgage accreditation standards, each agency should have a demonstrated ability to accept another state or multi-state examination in lieu of conducting its own examination and have a procedure for how it accepts examinations from other state agencies, the CFPB or multi-state examinations, including OCOEs. Agencies who can accept other examinations free up resources for other supervisory work. Leveraging Agencies Leveraging state agencies may leverage the results of an OCOE once the 12-month Moratorium ends. All leveraging agencies will be notified of the Moratorium ending for the OCOE. A leveraging state agency is not a participating agency on the OCOE. For more information regarding the leveraging process, refer to the “Leveraging Another Agency's Closed Supervisory Activity” resource in the SES Portal. 17 Leveraging agencies are encouraged to limit their review to state-specific information not included in the OCOE. This allows agencies to target their review and save time and resources by accepting the examination work conducted by the participating agencies in the completed OCOE. To meet mortgage accreditation standards, each agency should have a demonstrated ability to leverage another state or multi-state examination in lieu of conducting its own examination and have a procedure for how it leverages examinations from other state agencies, the CFPB or multi-state examinations, including OCOEs. Non-OCOE Examinations All state agencies are encouraged to adopt the procedures and practices in this Protocol when supervising a MME. The networked behaviors that align with this Protocol include: • Review all scheduled, in progress (“in-flight” in SES), and recently closed mortgage examinations in SES before scheduling a single state examination to avoid scheduling concurrent or duplicative state agency examinations. • Encourage companies to report examination scheduling conflicts and supervision overlap among state agencies. • Utilize SES fully and consistently for all examinations, investigations, and consumer complaints.

16 SES Portal: Accepting a Supervisory Activity 17 SES Portal: Leveraging Another Agency's Closed Supervisory Activity

One Company, One Exam Mortgage / Protocol Page 11 of 12