New Trade Group Focuses on Mortgage Compliance

The industry may not have been asking for a new trade association, but it has one: The Mortgage Compliance Professionals Association of America (MCPAOA). 

The new association is seeking membership from regulatory compliance experts among originators and servicers, along with risk management professionals and in-house legal counsels for mortgage companies. MCPAOA pledged to work with the Mortgage Banking Association (MBA) in its outreach to federal legislators and regulators.

Ben Slayton, publisher of Mortgage Compliance magazine, is the president of MCPAOA, which he co-founded with Burton Embry, executive vice president and chief compliance officer at Salt Lake City-based Primary Residential Mortgage Inc. (PRMI). They are offering free membership to qualified mortgage professionals.