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Lenders Compliance Group, Inc.

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Alan J. Cicchetti Appointed to Director Position

Alan J. Cicchetti, former Deputy Commissioner, Connecticut Banking Department, has been appointed as Director of Agency Relations of Lenders Compliance Group and Executive Director of Brokers Compliance Group.

Long Beach, NY, January 03, 2013 --( Lenders Compliance Group, Inc., the nationwide mortgage risk management firm, has appointed Alan J. Cicchetti, former Deputy Commissioner of the Connecticut Banking Department, to be its Director of Agency Relations of Lenders Compliance Group, as well as the Executive Director of Brokers Compliance Group, its new mortgage compliance firm that provides compliance support to mortgage brokers.

As Director of Agency Relations, Mr. Cicchetti will focus on assisting clients that need guidance with respect to the expectations of government agencies. In addition to his responsibilities as Director of Agency Relations, Mr. Cicchetti will also be involved in engagements that require, among other things, his expertise in SAFE and NMLS requirements.

Jonathan Foxx, President and Managing Director of Lenders Compliance Group, observed that “because of Alan’s involvement in regulatory agency work and interactions, he brings a unique ability to offer support to clients in need of a firm and reliable resource to facilitate policies, procedures, and current compliance practices.”

“Jonathan Foxx has built a dynamic, full service mortgage risk management firm based on his vision of providing outstanding client service at an affordable cost,” said Mr. Cicchetti. “With the recent launch of Brokers Compliance Group,” he continued, “Jonathan has taken his vision to the next level by providing a full suite of compliance services to residential mortgage brokers that are comprehensive, specific to their needs and very cost effective.”

In his role as Executive Director of Brokers Compliance Group, Mr. Cicchetti will manage the growth of this new risk management firm devoted exclusively to mortgage brokers. In an industry announcement, Mr. Foxx said that “in Alan Cicchetti, Brokers Compliance Group has a competent, innovative, and highly experienced professional at its helm, an individual who understands the unique compliance needs of mortgage brokers.”

Mr. Cicchetti stated “I am confident that my prior experience as a regulator and mortgage banker will prove helpful to both brokers and lenders at a time when compliance is playing an ever-increasing role within our industry. It is an honor for me to be part of the Lenders Compliance Group family.”

About: Alan J. Cicchetti

From 1999 until 2011, Mr. Cicchetti was the Deputy Commissioner of the Connecticut Department of Banking. During that time, he also served as Acting Director of the Consumer Credit Division. In that role, his responsibilities included regulation, examination, licensing and enforcement activities relating to non-depository licensees, including mortgage brokers, lenders, originators, check cashers, money transmitters, debt adjusters and negotiators, consumer collection agencies and others. He created and introduced proposed legislative changes for approval by the Commissioner and submission to the legislature for passage and enactment. He was the Co-Chair of the Regulations and Policy Committee of Connecticut’s Subprime Lending Taskforce, established by Governor M. Jody Rell.

Mr. Cicchetti’s background in the industry is hands-on and practical. He has held administrative positions in large bank and non-bank companies. He was also an Executive Assistant in the Office of the Treasurer, where, among his numerous responsibilities, he represented the Treasurer on the Board of Directors of the Connecticut Housing Finance Authority and served as Chairman of the Mortgage Committee.

Mr. Cicchetti is active in important mortgage industry associations, and he has been a faculty member at the University of Hartford, Barney School of Business. He holds a BS from Bryant University and an MBA from the University of Connecticut.

About: Lenders Compliance Group

Lenders Compliance Group, Inc. is the first full-service, mortgage risk management firm in the country that specializes exclusively in outsourced mortgage compliance. It supports its clients in managing regulatory compliance risk. Bringing knowledge, experience, research, and expertise to its mortgage banking clients, the firm offers a cost-effective way to implement mortgage risk management. Nationally known to be a pioneer in outsourcing and auditing solutions for residential mortgage compliance, the firm consists of Directors, Group Administrators, Attorneys, Compliance Consultants and Specialists, Credentialed Auditors, and Subject Matter Experts in all areas of mortgage risk management.

The firm offers a full suite of regulatory compliance services in mortgage banking, including the following: Mortgage Compliance • Legal and Regulatory Compliance • Forensic Mortgage Audits • HUD Exam Readiness Licensing Compliance • HMDA/CRA • Information Technology & Security • Portfolio Risk Management • Quality Control Audits • Prefunding Audits • Retail, Wholesale, and Correspondent Lending • Investor and Servicer Compliance • Loss Mitigation Strategies • Sarbanes-Oxley Compliance • Due Diligence • Credit Risk Management • Loan Analytics Audits • Compliance Audits • Banking Exam Readiness • GSE Applications • Ginnie Mae Applications • Training & Education • CFPB Exam Readiness • Anti-Money Laundering Exam Readiness.
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Lenders Compliance Group, Inc.
Carmen del Toro, Public Relations

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