PR Log - Lenders Compliance Group Announces Forensic Mortgages by skm10786


									PR Log - Global Press Release Distribution

                  Lenders Compliance Group Announces "Forensic Mortgages Services"

       By Lenders Compliance Group
       Dated: Aug 11, 2009

       Lenders Compliance Group announced today the formation of Forensic Mortgage Services, its newest
       practice group. This new specialty service can prevent mortgage fraud by providing forensic reviews of
       residential mortgage loans in loan level audits.

       Lenders Compliance Group (, the national mortgage compliance and
       risk management firm, announced today the formation of Forensic Mortgage Services, its newest practice
       group. The specialty service prevents mortgage fraud by providing a forensic review of residential
       mortgage loans at all levels of the loan origination process. The Forensic Mortgage Services group protects
       lenders from applicant errors, intentional misrepresentations, and regulatory violations of all the parties to
       the HUD-1 Real Estate Settlement Statement.

        Michael S. Richardson has been named the Director of Forensic Mortgage Services practice. Mr.
       Richardson is a seasoned professional, with over 25 years in the mortgage and real estate industry. He has
       managed all areas of mortgage banking and established e-commerce system solutions for private label
       backroom and outsourced services for mortgage lenders. Positions Mr. Richardson has held include CEO,
       President, and Managing Director for retail and wholesale mortgagees. He is the original investor and
       founder of the well-respected Lender Live organization as well as

        The Forensic Mortgage Services group will provide national, regional, and branch training, teaching the
       skills to build success while minimizing risk at each level needed to originate and fund quality loans. It also
       performs pre-funding fraud reviews, mortgage fraud auditing, logistical planning, and forensic loan audits.
       Its Clear to Close® review provides a lender with a hands-on, pre-funding Loan File Analysis of all fraud
       detection data fields. A comprehensive review, called the Forensic Loan File Review, is performed to
       identify potential illegalities. The Mortgage Fraud Opinion Report is a prepared detailed report, designed
       for use by management and attorneys, and developed to assist in the decision making process to determine
       the bases for judicial review, whether civil and/or criminal.
        Mr. Richardson has pioneered the Onsite Forensic Visit, in which loan files are randomly chosen from
       originators, processors, and underwriters at the actual originator’s office. Training includes "Focus on
       Fraud" Awareness & Prevention, conducted in classroom and on-line workshops. In fact, Mr. Richardson’s
       next “Focus on Fraud” webinar will be held on August 26th.

        Jonathan Foxx, President of Lenders Compliance Group, noted that “the additional of Forensic Mortgage
       Services will add yet another dimension to the complete list of mortgage compliance services we offer.” He
       added, “Mike is the foremost authority on preventing mortgage fraud and will prepare lenders to be ready
       when the so-called “HUD SWAT Team” shows up unannounced.”

        Mr. Richardson is the author of An American Epidemic: Mortgage Fraud – A Serious Business (available
       for download at: as well as author and creator of
       private label education training courses for mortgage bankers and on-line education. These courses respond
       to Best Practice protocol, and include “Mortgage Fraud Awareness and Prevention Certification,” and
       provide extensive fraud prevention training with a thorough review of RESPA and TILA guidelines and
       detailed auditing of the HUD-1, Good Faith Estimate, TILA, and various federal and state disclosures.

        Forensic Mortgage Services:

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PR Log - Global Press Release Distribution

Lenders Compliance Group:
Michael S. Richardson: 516-442-3456 x 102:


Lenders Compliance Group, Inc. is a full service, mortgage risk management firm, providing professional
guidance to financial institutions in all areas of mortgage and lending compliance. We provide complete
outsourcing of risk management with respect to the regulatory compliance function and its requirements.
Typically, our clients are federally regulated banks and their mortgage company subsidiaries, Mortgage
REITs, Mortgage Bankers, Mortgage Brokers, Warehouse Banks, Correspondent Lenders, Wholesale
Lenders, HUD/DE Mortgagees and FHA Loan Correspondents. LCG serves as an objective and
independent evaluator of current and proposed mortgage and lending compliance procedures, to spot
potential problems, and, when necessary, we will suggest alternatives.

Category           Mortgage, Banking, Real estate
Tags               mortgage compliance, lending, mortgages, Real Estate, banking
Email              Click to email author
Phone              516-442-3456
Fax                516-706-7070
Address            167 West Hudson Street - Suite 200
                   Long Beach, NY
City/Town          Long Beach
State/Province     New York
Zip                11561
Country            United States

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