Compliance

Richard Triplett, Chief Compliance Officer, has more than 24 years of management experience in the mortgage lending industry. Prior to joining the Firm, Mr. Triplett served as Vice President and Chief Compliance Officer for Secured Funding Corporation in Costa Mesa, California, managing all compliance, licensing, and quality assurance for that company. Mr. Triplett’s broad experience with other mortgage lenders includes all aspects of production, operations, and secondary marketing in retail, wholesale, and correspondent channels.

Mr. Triplett has earned a Certified Mortgage Banker designation with the Mortgage Bankers Association (MBA), he has received a faculty Fellow award from the MBA, and he is currently the lead instructor for the MBA’s Regulatory Compliance Institute. Mr. Triplett conducts oral examinations for CMB candidates and serves as a member of the State Legislative and Regulatory Committees for the MBA and the Texas Mortgage Bankers Association. Mr. Triplett’s Compliance Department is responsible for overseeing all of the applicable laws, regulations, guidelines, and rulings that affect the Firm’s operations and the Firm’s clients.

Developing policies, meeting and maintaining compliance requirements, testing and monitoring, and implementing compliance responsibilities in today's mortgage industry is a daunting task for any mortgage lender, bank, savings institution, credit union, or thrift. Listed below are some of the ways that we can assist you in today's patchwork of acts, laws, regulations, rules, ordinances and case law.

The duties of our Compliance department consist of, but are not limited to:

• Monitoring federal and state laws for more than 50 jurisdictions to ensure that loan documents satisfy applicable legal requirements.
• Working with the Legal department on specific issues that arise from changes in laws, client requirements, or investor requirements.
• Notifying clients of relevant changes to law that affect their loan programs.
• Researching additional issues pertaining to clients' specific loan programs.
• Tracking all enacted and potential state regulatory changes for all jurisdictions for any changes affecting the mortgage industry.
• Monitoring the guidelines of major secondary market investors and insurers, including Fannie Mae, Freddie Mac, Ginnie Mae, FHA, and VA, for any document changes.
• Creating disclosures and documents for use by clients to meet regulatory requirements, internal policies or for "best practices".
• Providing training seminars for clients, as requeted, on federal or state regulations.
• Performing research on mortgage related subjects as requested.
• Tracking and implementation of federal compliance requirements, including compliance with rules and regulations of OTC, OCC, OTS, FDIC, Federal Reserve, NCUA, HUD, VA, or other regulatory bodies..
• Assistance with development of specific written policies to meet federal and state regulatory guidelines.
• Quality Control Services to meet agency and regulatory requirements.
• Assistance with development of compliance auditing programs and checklists.

The Compliance Department also monitors guidelines and underwriting requirements for:

• Conventional loans delivered to the secondary market, including GSE's (Government Sponsored Enterprises).
• Government loans, such as those originated under FHA and VA guidelines.
• Loans originated pursuant to city or county bond programs (upon client request).

For private investors, our clients provide the Compliance department with product manuals and other information that may be needed to ensure continuing compliance with investor loan programs.