Lenders Compliance Group Inc. (LCG) and Abrams Garfinkel Margolis Bergson LLP (AGMB) have announced a strategic alliance to offer mortgage risk management guidance to the mortgage industry. Together, LCG and AGMB will build on existing tools, processes, risk assessment analyticals, and resources to provide a "best practices" approach to residential mortgage compliance. Both firms offer regulatory guidance to members of the real estate and banking industries. LCG provides a suite of services for all areas of mortgage banking, such as loan audit analytics, research, regulatory compliance guidance, loan origination channel and product development, mortgage quality control (QC), and due diligence reviews.
“Abrams Garfinkel is a well-respected leader in providing legal and regulatory counsel," said Jonathan Foxx, president and managing director of LCG. "The mortgage banking and mortgage brokerage industries have needed appropriate, affordable resources to implement compliance solutions that reflect reliable and accurate best practices. So this kind of alliance is somewhat unique to mortgage banking and mortgage brokerage. It offers a ‘best practices’ approach for our respective clients: top legal talent at AGMB who are experienced in mortgage banking and mortgage brokerage combined with top risk management professionals at LCG who are experienced in all areas of regulatory and mortgage banking compliance. Our suite of auditing and due diligence services further supports these cost-effective efforts."
Neil Garfinkel, named partner of Abrams Garfinkel Margolis Bergson LLP (AGMB) and the head of its real estate and banking practices, and Michael G. Barone, head of regulatory compliance for AGMB, have accepted positions as directors of Lenders Compliance Group Inc. (LCG).
"After working with Jonathan Foxx on a variety of matters through the years it is clear that Jonathan and LCG provide a wealth of information and unprecedented access to mortgage risk management support within the mortgage banking and mortgage brokerage industries," said Garfinkel. "The procedures and requirements for originating residential mortgage loans are experiencing enormous changes and will continue to do so for many years to come. This alliance ensures that AGMB and its clients are well versed and represented, with respect to all regulatory compliance issues affecting their businesses. We are excited to bring together our resources and provide the mortgage industry with ‘best practices’ solutions that strengthen our clients and the industry."
