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Lenders Compliance Group Forms Partnership With MortgageFlex
Sep 04, 2014

Lenders Compliance Group Inc. has announced that it has formed a partnership with MortgageFlex Systems Inc., a provider of loan origination and servicing technology. LCG is a national, full-service, mortgage risk management firm specializing in residential mortgage compliance, with an emphasis focused on operational assessment and improvement, benchmarking methodologies, best practices, regulatory compliance, while offering a suite of services in residential mortgage banking. “As a leader in loan origination systems, MortgageFlex has shown a deep commitment to offering its clients outstanding products and services, fully supported by an effective commitment to reliable compliance," said Jonathan Foxx, president and managing director of Lenders Compliance Group. "Through our partnership with MortgageFlex, we plan to enhance its mission of providing hands-on access to timely and competent regulatory compliance guidance, while also ensuring that the LoanQuest LOS fully meets the CFPB standards." MortgageFlex utilizes a three-pronged compliance approach to risk management. The LoanQuest loan origination system has continual compliance calculations backed up with seamless integrations to third-party document providers, in addition to a partnership with the Lenders Compliance Group. “Compliance is our customer’s key focus and it is our responsibility to deliver a secure system that is federally compliant,” said Craig Bechtle, chief operating officer of MortgageFlex. ”While the upcoming RESPA changes are being touted as beastly by some vendors, there’s no reason for panic if your technology vendor is acting proactively and taking their customers’ needs into consideration.” MortgageFlex has long collaborated with industry experts to guarantee system compliance with federal mortgage lending regulations. The company was a key player in the development of MISMO standards and the LoanQuest loan origination system is completely mapped to those standards. Upgrades to MISMO 3.3 are already being developed. As an additional service, the Lenders Compliance Group will interact with customers during MortgageFlex’s monthly compliance conference calls, answering or clarifying concerns. “We feel strongly that having an independent resource and compliance partner will provide a superior lending experience for our customers and we’re excited to offer this extra measure of security,” said John McCrea, senior vice president, business development for MortgageFlex.
Sep 04, 2014
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