News Column

Iowa Division of Banking, Finance Bureau Receives Mortgage Supervision Reaccreditation

August 7, 2014

WASHINGTON, Aug. 7 -- The Conference of State Bank Supervisors issued the following news release:

The Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) announced today that the Iowa Division of Banking, Finance Bureau (The Division) has received reaccreditation certifying that the Division maintains the highest standards and practices in state mortgage supervision as set forth by the AARMR/CSBS Mortgage Accreditation Program. This is the Bureau's second mortgage accreditation, with the first accreditation occurring in January 2010. The Division is led by Superintendent Jim Schipper.

"Congratulations to Superintendent Schipper and his staff for achieving reaccreditation in mortgage supervision," said CSBS President and CEO John W. Ryan. "The Division was the third state agency to originally receive this mortgage accreditation and is now among 15 others that are leaders in mortgage supervision."

"It is wonderful to see Iowa yet again prove their role as a standard-bearer for mortgage examination and supervision" said Cindy Begin, AARMR President. "Kudos to Superintendent Schipper and his talented team for their hard work and dedication to the people of Iowa."

Prior to being named Superintendent, Schipper served as an Iowa community banker for more than 40 years. He served a two-year term on the Board of CSBS and as co-chair of the CSBS Bankers Advisory Board. Superintendent Schipper was appointed to lead the Division in January 2011 and was reappointed for a four-year term in April 2013. The Division regulates all Iowa state-chartered banks and supervises consumer lenders, mortgage businesses, and payday lenders.

About AARMR:

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.

[Category: Banking]

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Source: Targeted News Service

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