With the onslaught of new rules and regulations, the best vendors are stepping up to protect their clients. For example, MRG Document Technologies, the mortgage compliance practice team within the Middleberg Riddle Group (MRG), a provider of mortgage document preparation software and legal compliance, today announced that Jonathan M. Herman will additionally serve as Chief Litigation Counsel.
“Mr. Herman has been a partner in The Middleberg Riddle Group since 2004 and is a seasoned trial lawyer, adept before a jury and skillful in negotiations with adverse parties. He will well serve this firm’s banking clients in managing risk based decisions in this challenging regulatory climate,” said Michael L. Riddle, the firm’s Managing Partner. In addition, Mr. Herman adds a depth of experience that supports MRG Document Technologies’ reps and warrants, further enabling it to defend its document solutions “from the computer room to the courtroom.”
In commenting on his additional role, Mr. Herman observed, “Mortgage banking is evolving from a pure regulatory practice into a more balanced one implicating both regulatory work and litigation. The potential for large monetary fines, whether arising from a past audit or under the penalty provisions of the Integrated Disclosures, has caused relationships with the regulatory authorities to become adversarial. Likewise, the threat of mortgage repurchases and shifting of liability under the new vendor management rules has made relationships with investors and other business parties become less congenial and more defensive. While litigation is always the last option, careful preparation of your legal defenses goes a long way toward negotiating with your adversary.”
MRG Document Technologies has differentiated itself in the marketplace, becoming a trusted legal advisor and document provider to some of the nation’s preeminent mortgage bankers, precisely because it is a practice group within a law firm. Its mortgage loan documents are its work product, which contain the knowledge and experience of its talented lawyers.
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