Washington, D.C. – May 5, 2015 – (RealEstateRama) — The Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) is pleased to announce that the Hawaii Division of Financial Institutions (the Division) has received a certificate of accreditation for mortgage supervision. This accreditation confirms that the Division maintains the highest standards and practices in mortgage supervision set by the AARMR/CSBS Mortgage Accreditation Program.
This is the Division’s first mortgage supervision accreditation. The Division is led by Commissioner Iris Ikeda.
“Congratulations to Commissioner Ikeda and her entire staff,” said CSBS President and CEO John W. Ryan. “By receiving this accreditation, the Division and its staff have demonstrated their commitment to the highest standards of residential mortgage supervision in Hawaii.”
“The Mortgage Accreditation program strengthens and promotes excellence in state mortgage supervision while increasing supervisory efficiency,” said Rod Carnes, AARMR President and Deputy Commissioner for Non-Depository Financial Institutions of the Georgia Department of Banking and Finance. “Earning mortgage supervision accreditation proves that the Hawaii Division of Financial Institutions maintains industry-leading standards in mortgage regulation and supervision.”
On January 18, 2011, Hawaii Governor Neil Abercrombie appointed attorney Ikeda as the State Commissioner of Financial Institutions. Ikeda has been in the banking area since 2003, focusing on regulatory compliance (operations and loans), Bank Secrecy Act compliance, operations, and as an associate counsel. Ikeda worked at a state-chartered depository financial services loan company, a state-chartered de novo bank, and a non-state chartered savings bank. Ikeda is a 2007 graduate of Pacific Coast Banking School.
To achieve mortgage supervision accreditation, state agencies must undergo a voluntary comprehensive review of the CSBS and AARMR accreditation team. The accreditation process begins with the completion of an extensive self-evaluation questionnaire on all department operations, including administration and finance, personnel, training, examination, supervision, and legislative powers. An external review team comprised of veteran state regulators then performs an on-site review and presents its findings to an audit team and to the Performance Standards Committee. The members then vote on the reports of the review team and the audit team.
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Catherine Woody, Vice President of Media and Industry Relations, cwoody (at) csbs (dot) org or 202.728.5733
Rockhelle Johnson, Senior Manager of Communications, rjohnson (at) csbs (dot) org or 202.407.7156
Matthew Longacre, Manager of Communications, mlongacre (at) csbs (dot) org or 202.803.8091
The Conference of State Bank Supervisors (CSBS) is the nationwide organization of banking regulators from all 50 states, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands. State banking regulators supervise over 5,000 state‐chartered financial institutions. Further, most state banking departments also regulate a variety of non-bank financial services providers, including mortgage lenders. For more than a century, CSBS has given state supervisors a national forum to coordinate supervision of their regulated entities and to develop regulatory policy. CSBS also provides training to state banking and financial regulators and represents its members before Congress and the federal financial regulatory agencies.
The American Association of Residential Mortgage Regulators (AARMR) is the national organization representing state residential mortgage regulators. AARMR’s mission is to promote the exchange of information and education concerning the licensing, supervision and regulation of the residential mortgage industry, to ensure the ability of state mortgage regulators to provide effective mortgage supervision for a safe and sound industry meeting the needs of the local financial markets and to protect the rights of consumers.