Industry Compliance Vendors Unite to Form Compliance Collaborative

Jonathan Foxx, president and managing director of Lenders Compliance Group Inc. (LCG), has announced the formation of a new consultancy firm, Compliance Collaborative Inc. (CCI). The firm is the first of its kind, combining top mortgage industry compliance vendors, professionals and compliance support providers across the U.S. With the combined expertise and reach of member organizations, the firm will provide cost-effective compliance services to any enterprise involved in residential mortgage loan origination and servicing and will offer its services on a retained basis or as part of packaged services plans. “CCI was formed because of a need in the mortgage industry to provide all firms in the lending and servicing space with affordable, yet independent, compliance services that avoid the appearance of a lack of arm’s length separation between oversight and operations functions that is all too common in the industry currently,” said Foxx, founder of CCI. “Through its strategic alliances, CCI will deliver comprehensive counsel and guidance that will meet the exacting expectations of regulators.” CCI will operate from its offices in Long Beach, N.Y.