NATIONAL CITY MORTAGAGE CORPORATE GOVERNANCE

2007-03-08 10:33:40

( Financial )



National City Mortagage is one of the largest mortgage originators in the United States of America. Fixed rate mortgages, adjustable rate mortgages, endowment mortgages, jumbo mortgages and interest only adjustable mortgages are the main types of mortgage it offer to its clients.

The board of directors of National City Mortgage abides by the highest standard of sound corporate governance to guide its operations towards the better service to its clients. The following are the standards being followed by its officers and board of directors.

Functions

The board of directors of National City Mortagage is tasked to review corporate performance of the company as well as its strategic plans to enhance benefits of its stock holders. They oversee the implementation of internal control measures to ensure that employees and company systems adhere to ethical performance of their functions.

The board of directors functions as the company’s bearer of good image towards its employees, competitors and investors ensuring sound financial performance and ethical governance. As overseers of the performance of the company, they are expected to ensure that the company’s staff is continuously trained and perform to optimum level of ethical and technical standards.

Qualifications

Members of the board of directors must have the experience of either a Chief Executive Officer, member of senior management or director of a significant business organization. They must serve at least four publicly held corporations as board of directors as well as own at least twelve thousand shares of National City Mortagage prior to their appointment as its board of directors. They must have the overall skills to enhance the operation of the company and complement the general skills of the other board of directors.

All members of the board of directors are expected to participate in the regular board of directors meetings as well as committee meetings to properly oversee the operations of National City Mortagage.


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