Regulatory Alerts2021-05-13
Guidelines for Mortgage Underwriting Practices and Procedures
The Financial Services Commission of Mauritius has issued these guidelines to establish five fundamental principles for prudent mortgage underwriting and loan asset acquisition by insurers. Insurers must implement board-approved policies defining risk appetite, debt-to-income and loan-to-value limits, borrower credit assessments, and property valuation standards. The framework mandates robust internal controls, periodic supervisory reporting, and annual executive declarations to ensure ongoing compliance and effective risk management.
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