The Arizona Department of Financial Institutions achieved accreditation by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators for its mortgage regulatory program.
The rigorous process involved three highly experienced former regulators and a CSBS staff member interviewing key personnel and a cross-section of examiners, a thorough review of the Self-Evaluation Questionnaire, and a review of the work product of supervision (examination reports, correspondence, and related information).
The Arizona Department of Financial Institutions mortgage regulatory program supervises 1,030 state-licensed mortgage companies, including mortgage bankers, mortgage brokers, commercial mortgage bankers, and commercial mortgage brokers.
CSBS accreditation involves an in-depth review of an agency’s policies, procedures, and operations to determine if it meets national standards. As part of Vision 2020
for nonbank regulation, state regulators are committed to pursuing high standards and learning from other states. CSBS offers education programs, analytics and national standards to helping state regulators meet those goals.