AFSA members are among those participating in meetings of a Residential Mortgage Regulatory Task Force created by The Conference of State Banking Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) to reduce the complexity of the state-regulated mortgage lending industry and to improve the supervisory tools available to state mortgage regulators.

The CSBS/AARMR effort involves two components: a Uniform Mortgage Licensing Application component and a National Mortgage Licensing Database component.

In a letter to CSBS dated January 9, 2006, AFSA urged caution to avoid unintended consequences and additional costs for the heavily regulated mortgage lending industry. One concern is that the database may lead to the licensing of individual loan originators. Members of the AFSA State Government Affairs Mortgage Lending Subcommittee will continue working closely with CSBS as these projects move forward. View AFSA's letter.