Having been in the mortgage industry for almost 15 years now, I can tell you that there is no secret about what makes this industry tick. It’s the people. It’s an industry filled with good people. So, if you’re worried about compliance, my suggestion would be to make sure that you have good technology coupled with good people. For example, Wipro-owned Opus Capital Markets Consultants, LLC (Opus CMC), a provider of mortgage due diligence appointed John Levonick as Chief Compliance Counsel. Here’s why this is significant:
Opus CMC is a wholly owned subsidiary of Wipro Ltd., a global information technology, consulting, and business process services company. John Levonick brings to Opus a rich experience of advising mortgage industry participants on compliance, risk management and related legal matters. His expertise spans a wide array of consumer financial services regulatory compliance requirements and asset classes, including infrastructure related concerns, such as privacy, including TILA (Regulation Z), RESPA (Regulation X), FDCPA, UDAAP, FCRA/FACTA, ECOA (Regulation B), HMDA (Regulation C) and GLBA.
“Regulatory compliance and risk management are the most important priorities for the mortgage finance industry today. John’s wealth of experience in this area will add to our best-in-class compliance offerings, and add significant value for our clients as they look to mitigate risk and stay ahead of regulatory changes,” said Jennifer LaBud, Chief Operating Officer, Opus CMC.
With John’s background as Chief Legal Officer, Chief Compliance Officer, and Regulatory Counsel, and his knowledge of compliance and risk management as it applies to Originators, Servicers, Issuers and Capital Market Investors, he brings a unique perspective to Opus CMC clients. Prior to joining Opus CMC, he served as the Director of Legal Services – Consumer Financial Services at Accenture LLP, and was the Chief Legal and Compliance Officer at Mortgage Cadence LLC.
“John has vast knowledge and insights on the compliance and regulatory landscape and is very well known in the industry for his thought leadership. He has a strong understanding of our client’s needs and core objectives behind industry regulation in consumer lending, and we expect this to be a big value add to all our clients,” said Joseph Andrea, Chief Sales Officer, Opus CMC.
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at firstname.lastname@example.org.