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SOURCE Clayton Holdings LLC; Weiner Brodsky Kider
- Clayton Holdings Selected as Consultant to Provide Loan Review Expertise -
WASHINGTON, Feb. 18, 2014 /PRNewswire/ -- Weiner Brodsky Kider PC (WBK), a Washington, D.C.-based firm law firm focused on compliance, regulatory, transactional and litigation legal services for financial services companies, announced today it has selected Clayton Holdings LLC to assist in its program to help mortgage originators and servicers prepare for Consumer Financial Protection Bureau (CFPB) examinations. Clayton is a leading provider of loan due diligence and consulting services to the mortgage industry.
The program is designed to:
As part of the program, WBK will conduct pre-visit data reviews and analyses with the assistance of Compliance Ease, and Clayton will assist in examining the company's business model, loan files, organizational structure, key documents, and internal policies and procedures. Past regulatory enforcement actions and consumer complaints will also be reviewed. This will be followed by onsite reviews and interviews with staff members, departmental managers and corporate executives. Program deliverables will include a report drafted by WBK that includes implementation strategies to address process shortcomings and strategies to address possible concerns that may be raised by CFPB examiners.
"CFPB is on record saying that it intends to step up its examinations and enforcement in 2014," said Mitch Kider, chairman and managing partner at WBK. "Our program will help mortgage companies identify and correct issues in advance of CFPB audits. This program builds on the respective strengths of our two firms: operations and consulting, which is what Clayton is known for; and WBK's expertise in compliance and regulatory matters."
Bruce Legan, head of Clayton's consulting practice, added, "In today's zero-tolerance environment, many companies are anxious about the audit process and are focused on building systems and organizations that will withstand future scrutiny. This new program addresses both of these concerns."
About Weiner Brodsky Kider
Weiner Brodsky Kider PC is a Washington, D.C.-based firm with a national practice focused on compliance, regulatory, transactional and litigation matters related to financial services concerns. WBK represents a broad client base, from start-up businesses to Fortune 500 companies, throughout the United States.
For more information, go to www.thewbkfirm.com
About Clayton Holdings LLC
Clayton Holdings, headquartered in Shelton, Connecticut, provides information and services that financial institutions, investors and government entities use to evaluate, acquire, securitize, service and monitor loans and asset-backed securities. Clayton offerings include risk-based analytics, residential and commercial loan due diligence, consulting, surveillance and staffing solutions. The company provides customized REO management, BPOs, short sales and Single Family Rental services through its Green River Capital subsidiary. A global reach in the financial services industry is provided by the company's European subsidiary, Clayton EuroRisk.
Additional information is available at Clayton.com.
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