An agreement has been reached between a risk management firm and a law firm that allows both firms to bring together their services regarding all aspects of residential mortgage banking.
Abrams Garfinkel Margolis Bergson LLP and Lenders Compliance Group have formed an alliance that will benefit both the mortgage banking and mortgage brokering industries to remain in compliance with industry regulations.
LCG has outsourcing solutions for several subject matters within residential mortgage compliance including mortgage defaults, loss mitigation, mortgage fraud audits and quality control reviews. It also offers a suite of compliance services, compliance solutions and regulatory guidance for the mortgage industry.
Jonathan Foxx, president and managing director of LCG, said his firm made the alliance with AGMB because it is a top provider in legal and regulatory counsel in real estate transactions, including lease negotiations, acquisitions, sales, refinances and end-loan financing.
“The mortgage banking and brokerage industries have needed appropriate, affordable resources to implement compliance solutions that reflect reliable and accurate 'best practices,'” Foxx said. “This kind of alliance is somewhat unique to mortgage banking and mortgage brokerage because it offers top legal talent at AGMB who are experienced in mortgage banking combined with top risk management professionals at LCG who are experienced in all areas of regulatory and mortgage banking compliance. Our suite of auditing and due diligence services further supports these cost-effective efforts.”
AGMB said it is excited to bring together their resources with LCG to give the mortgage industry “best practices” solutions that strengthen their clients' needs.
“The procedures and requirements for originating residential mortgage loans are experiencing enormous changes and will continue to do so for many years to come,” said Neil Garfinkel, a partner of AGMB, which has offices in New York and Los Angeles.
“LCG provides a wealth of information and unprecedented access to mortgage risk management support within the mortgage banking and mortgage brokerage industries. This alliance ensures that AGMB and its clients are well versed and represented with respect to all regulatory compliance issues affecting their business.”
