New mortgage industry trade association for compliance professionals forms committees

Jonathan Foxx, president of the Association Residential Mortgage Compliance Professionals (ARMCP), has announced the formation of the following new ARMCP Committees: Advocacy, Best Practices & Standards, Ethics, Events, Legislation, Industry Liaison, Job Opportunities, Media and Press, Newsletter, Professional Development, Regulatory Updates, Research, Social Media, Steering, and Web site and Weblog. Other committees are planned. Virtually every facet of residential mortgage compliance will have a committee to support all the members, with the goal of creating a coherent, professional approach that is recognized by its members. “We launched our new organization on June 1, 2010, and the membership response has been very encouraging. Now we will begin the process of laying down a secure foundation for our future. With this in mind, we are forming committees to address important aspects of our work in many areas of residential mortgage compliance,” said Foxx. “Each committee will meet at LinkedIn, as a Subgroup, and work together to formulate policy, procedures, and services for our membership. And we will soon be convening a Steering Committee to set forth guidelines for electing officers, finalizing by-laws for members’ approval, and helping to arrange information and documentation for all ARMCP members to consider and vote on.” ARMCP is now expanding its new Web site to include special new features for its members’ use. Additionally, it is building access to “cloud” computing, which will allow the group’s participants to work together jointly and simultaneously on the organization’s projects. The updated version of the Web site should be available by June 30, 2010. In a statement today to the membership, Foxx said “it is important to take advantage of technology to help build the ARMCP and especially to explore compliance issues, news, guidelines, and banking laws in real-time.” Eventually, the organization will use LinkedIn as a legacy setting and move its overall Web space experience to its own Web site, with built-in interactive and dynamic features. ARMCP is the first and only national organization in the United States formed to offer discussion panels, educational forums, lectures, regulatory FAQs, advocacy, and other venues exclusively for residential mortgage compliance professionals. Regular Members must be industry participants who have an actual practice or institutional responsibilities involving residential mortgage compliance. Membership is free at this time. Membership information about the ARMCP is available at LinkedIn,  or the association’s new Web site at www.armcp.org.