Mortgage Daily Logo

Compliance Services Strictly for Servicers

Mortgage News

A new company is being touted as the only service provider dedicated solely to helping residential loan servicers comply with a host of important rules, regulations and requirements.

Lenders Compliance Group already claimed that it was the first full-service, mortgage risk management firm in the country that specializes exclusively in outsourced mortgage compliance while offering a range of services in residential lending for banks and non-banks.

Now, the Long Beach, N.Y., firm has opened a new subsidiary that, it says, is the first U.S. full-service risk management firm specializing exclusively in outsourced servicing compliance and offering a full suite of support services to servicers and sub-servicers.

The new subsidiary, Servicers Compliance Group Inc., “builds on existing tools, processes, subject matter experts, risk assessments, and resources to provide a “best practices” approach to residential mortgage servicing compliance,” an announcement Thursday said.

The company says it provides cost effective compliance guidance with an emphasis on Consumer Financial Protection Bureau servicing standards, servicer quality assurance and all aspects of servicing compliance.

The statement said that the new entity’s fees are considered to be an economical alternative to most compliance support, audit, due diligence and review firms that provide high-level compliance guidance.

In addition, servicers are no longer limited only to sources like news publications, trade associations or attorneys for compliance requirements or help.

“For the first time, servicers and sub-servicers have cost-effective access to subject matter experts, compliance attorneys, professional consultants, and a wide array of supportive compliance services,” Servicers Compliance President and Managing Director Jonathan Foxx said in the news release.

Servicers Compliance is online at www.ServicersComplianceGroup.com..

Related Posts

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Third-Quarter 2012 Mortgage Litigation Index

Lawsuits involving excessive fees, servicing fees and loan fees beyond state maximums. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Fannie Mae and Freddie Mac Orangeburg County, Richland County, South...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Whistleblower Lawsuits

Litigation related to loan servicing, including escrow issues, transfer of servicing and servicing borrowers in bankruptcy and foreclosure.   Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Bank of...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Net Branch Lawsuits

Litigation involving net branch operations. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story PHH Mortgage Corp. Mathews Supreme Court of Virginia na Court held that the term "branch office" includes not only...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming paperwork has been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and furniture need to...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand-new mortgage loan can be a difficult task, especially for first-time homeowners.   After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first...

Newsletter

Don’t worry, we don’t spam