Wednesday, July 02, 2008

Guardian: New compliance exec

It's getting more difficult to keep track of all of the politicians getting into the housing recovery business. While everyone is concerned with the crisis and no one likes the prospect of millions of American homeowners suddenly becoming renters again, few if any industry players are happy with the idea of the government (any government) stepping in to "fix" things.

Unfortunately, it is what it is. We now have a handful of states that have effectively taken away the power of mortgage loan servicers to perform effective loss mitigation by freezing their ability to move deals into foreclosure. That won't end well. I'll be writing more on that in the first print edition of HousingWire.

While plenty are sure to wail and rail, technology vendors and service providers are doing what's necessary, which generally means stepping up their compliance efforts and providing additional services to lenders who just can't keep up with all the new rules.

One such vendor is Denver-based Guardian Mortgage Documents (GMD). The company announced today that Janice L. Butler would be the firm's new vice president of compliance.

GMD, a provider of document preparation and fully customized outsourced solutions to the national financial services industry, will put the 28-year veteran in a position to oversee the day-to-day operations of GMD’s compliance division, where she will be responsible for managing compliance monitoring and new client implementation across all lines of business for federal, state, investor level requirements as well as on-going client services.

Before joining GMD, Butler was director of regulatory compliance at Aurora Loan Services (A Lehman Brothers Company). She previously had positions in compliance with JPMorgan Chase, N.A., HomeSide Lending, Inc. and PNC Mortgage.

“Mrs. Butler is a proven and well respected professional in our industry and has tremendous experience in all dimensions of lending compliance and operations within leading financial institutions,” said Tim Anschutz, vice president of marketing for GMD. “Her extensive knowledge and leadership will further benefit our clients in the professional services and documents preparation services we provide.”

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