Dateline: Carlsbad, California (CARLSBAD, Calif.) | Tue, 30 Jul 2013
freeNewsArticles Story Summary: “California-based mortgage compliance services provider The Compliance Group, Inc., has relocated from its original San Marcos, Calif.-location into a larger office space, located at 1901 Camino Vida Roble, Ste. 115 in Carlsbad. According to Annemaria Allen, president of The Compliance Group, increased activity in the regulatory sector was a driving factor in the decision to move.”
ARTICLE:
California-based mortgage compliance services provider The Compliance Group, Inc., has relocated from its original San Marcos, Calif.-location into a larger office space, located at 1901 Camino Vida Roble, Ste. 115 in Carlsbad. According to Annemaria Allen, president of The Compliance Group, increased activity in the regulatory sector was a driving factor in the decision to move.
“As the Consumer Financial Protection Bureau has started to flex its muscles over the last two years, compliance services like ours have been in high demand,” Allen said. “After more than 12 years, it was time for us to expand into a slightly larger space to accommodate the increase we’ve seen in our business.”
Much of the business The Compliance Group has seen over the past two years has been related to audit preparedness, as the CFPB and many other entities (Federal Housing Administration, Fannie Mae, Federal Deposit Insurance Corporation, etc.) have stepped up their oversight of financial intuitions.
“The CFPB’s Compliance Management System requirement seems to be a challenge for some lenders to implement, and we’ve also seen the FDIC cite similar issues in its audit reports,” Allen added. “Lenders are really being held accountable in a way that they haven’t previously been, and our job is to make the seemingly insurmountable task of maintaining compliance in the current regulatory environment much more manageable, even for smaller institutions.”
In addition, questionable marketing messaging/tactics, errors in Home Mortgage Disclosure Act (HMDA) data, Fair Lending violations and frequent customer service complaints, among other things, are also triggering audits, Allen observed.
About The Compliance Group:
The Compliance Group (TCG) is a leading nationwide financial services risk management organization focused solely on its clients’ compliance success ( http://www.TheComplianceGroup.net/ ). TCG has helped hundreds of financial institutions mitigate risk and losses with its proprietary, patent-pending technology and its core business solutions of Compliance, Quality Control and Licensing. Founded by Annemaria Allen in 2000, TCG has built upon her deeply experienced understanding of compliance and risk management to bring peace of mind to the financial services industry.
TCG’s LicenseTracker(R) ( http://www.LicenseTracker.net/ ), is a patent pending, web-based application, to help mortgage businesses, branches, and loan originators maintain and track required state and federal agency licensing deadlines and continuing education requirements.
TCG technology is complemented by its experts’ keen attention to delivering results the right way – with integrity, quality, transparency, reliability and customer care. Its appreciation for relationship building allows TCG to assist its clients in understanding the complexity of compliance, developing their strengths in areas of risk while turning compliance and quality control into a profitability strategy.
For more information, contact Annemaria[at]TheComplianceGroup.net.
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Copyright © 2013 by The Compliance Group, Inc. and Send2Press® Newswire, a service of Neotrope® – all rights reserved. Information believed accurate but not guaranteed. Sourced on: freeNewsArticles.com.
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• Story Title: The Compliance Group Relocates California Offices, Citing Increased Demand for Mortgage Compliance Services
• REFERENCE KEYWORDS/TERMS: Annemaria Allen, Carlsbad, California, mortgage compliance services, Banking and Finance, Business, Computing, CARLSBAD, Calif..
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NEWS SOURCE: The Compliance Group, Inc. :: This press release was issued on behalf of the news source (who is solely responsible for its accuracy) by Send2Press® Newswire, a service of Neotrope®. Original syndication source of this news item: http://www.send2press.com/newswire/The-Compliance-Group-Relocates-California-Offices-Citing-Increased-Demand-for-Mortgage-Compliance-Services_2013-07-0730-003.shtml.