Lenders Compliance Group (LCG) has announced that Michael G. Barone Esq. has been appointed to the position of executive director of the firm. Barone will also remain as a director of Legal & Regulatory Compliance for LCG. LCG provides a suite of services to banks and non-banks, residential mortgage lenders, servicers, investors, closing and title agents, and other vendors in all areas of mortgage banking. It is the first mortgage risk management firm in the United States and provides a hands-on approach to providing guidance, while also offering loan audit analytics, research, loan origination channel development, due diligence reviews, and mortgage quality control.
“Mike is a uniquely experienced legal professional within the mortgage industry, having distinguished himself as both inside and outside counsel, and as a stalwart representative of clients facing government scrutiny," said Jonathan Foxx, president and managing director of LCG. "Most importantly, Mike’s leadership provides an exceptional perspective on how to establish and maintain an effective compliance management program.”
Barone has 20-plus years of diverse legal experience in representing clients in all aspects of financing and mortgage compliance. He served as in-house counsel for a national mortgage banker for many years, overseeing all aspects of the legal department, including mortgage compliance. Barone advises numerous mortgage bankers and mortgage brokers on state and federal regulatory and compliance matters, and he is also a frequent panelist at mortgage banking conferences and conventions. He received a Bachelor of Arts Degree from the University of Michigan at Ann Arbor and received a Juris Doctor Degree from Hofstra University after serving as an Editor of Hofstra’s Labor and Employment Journal.
"With all the changes that have occurred in the mortgage industry recently, I am excited to work with our clients on their regulatory compliance needs,” said Barone. “At Lenders Compliance Group, the position of executive director provides a broad-based means by which to assist in the firm’s growth, as well as our clients’ unique risk management requirements. I will work closely with Jonathan Foxx to ensure that LCG offers compliance solutions for those who seek value and a stable resource for their compliance programs.”
Foxx said, “The position of executive director involves significant responsibility with respect to the oversight of all client engagements, expansion of services, and strategic and operational business planning. For many years, Mike has demonstrated proactive leadership. In my view, his management style continues and reinforces the ongoing responsiveness that our clients have come to expect.”