The Compliance Group Inc. (TCG), has announced the addition of 17-year mortgage compliance veteran Russ Tolleson as senior compliance officer to support the firm’s expanding client roster comprised of mortgage bankers, mortgage servicers, independent mortgage lenders, community banks and credit unions. Tolleson’s compliance acumen spans the diverse federal regulatory landscape such as RESPA, TILA, ECOA, HMDA and most recently the Bank Secrecy Act as it applies to non-depository lenders. Practical application of SAFE Act/National Mortgage Licensing System (NMLS) management and administration, National Reverse Mortgage Lending Association (NRMLA) guidelines and Mortgage Acts and Practices’ (MAPS) marketing/advertising requirements round out his background. In addition to contributing expertise in these areas, Tolleson’s role will also encompass tracking and monitoring general compliance changes, assisting TCG clients in developing enterprise-specific policies and procedures, and supervising TCG client licensing support activities.
“An ideal mortgage compliance officer has demonstrated commitment and longevity in that facet of mortgage lending,” said The Compliance Group Founder and President Annemaria Allen. “Russ Tolleson’s nearly two decades in the mortgage industry have instilled in him the ability to look beyond the haze of the ‘subprime heyday’ and ‘compliance backlash’ to provide TCG clients a longer-term perspective on the regulatory trajectory and engaging best practices to manage those changes.”
Tolleson began his mortgage career in 1995, working as a licensed loan officer in California and consulting mortgage bankers in the areas of auditing, licensing and compliance. Later, Tolleson served as a compliance manager for several regional and national lending entities, including World Wide Credit Corporation, Commerce National Bank, American Security Bank, ComUnity Lending and EquiPoint Financial Network.
“Managing compliance in the best of times can still be an exercise in endurance, which is why what we’re doing at The Compliance Group is so critical to the recovery of the mortgage market,“ said Tolleson. “If I’m doing my job right, my clients are going to have the energy needed to tackle the countless other issues that keep them up at night knowing compliance is covered.”
