Mortgage Banking Systems Hires New Compliance Officer; Fresh Face Strengthens Compliance Program Keeping Lenders In-Step with State and Federal Mortgage Regulations

Business Wire, Oct 19, 2004

MCLEAN, Va. -- Mortgage Banking Systems, Inc., a leading provider of mortgage closing document services and technology, announced the selection of a new compliance officer. As Compliance Officer, Maria Greco oversees the company's compliance staff, monitoring all state and federal laws and regulations for Mortgage Banking Systems' more than 1,000 mortgage closing documents.

Greco's territories include all fifty United States and the U.S. Virgin Islands. In her role, Greco updates lenders practicing in these territories of any changes or additions to mortgage lending policies with respect to the preparation of closing documents and ensures compliance of the related forms.

"Mortgage Banking Systems strives to continually add quality people that will support our overall goal of delivering the best possible service and industry expertise to our clients," said Christine Kirby, president, Mortgage Banking Systems. "Maria brings a new perspective along with a keen eye for mortgage compliance. Her commitment to the community and respect for financial law further strengthens Mortgage Banking Systems' already seasoned team."

Prior to joining the company in July, Greco assisted the legal compliance department of Tampa, Fla.-based Market Street Mortgage. During her time with Market Street, Greco sharpened her mortgage lending and legal knowledge, with regular review of the Mortgage Electronic Registration System's (MERS) standards, home equity loans and security instruments. Greco's previous experience also reinforced her understanding of the complexities involved in mortgage closings and compliance.

"Mortgage Banking Systems delivers personal touch service, which also aligns with my personal and professional philosophies," said Greco. "The challenge before me is immense, but I am committed to helping Mortgage Banking Systems successfully achieve performance perfection on lender document analysis."

Greco holds a Bachelor's degree in Finance from Florida State University, as well as a Master's in Business Administration and Juris Doctor degree from Stetson University, where she graduated cum laude. Greco is a member of the Florida Bar and currently awaits admission to both the Washington D.C. and Virginia Bars. She resides in the Washington D.C. area.

About Mortgage Banking Systems

Headquartered in McLean, Va. Mortgage Banking Systems specializes in mortgage lending software for small to mid-sized mortgage companies and community banks nationwide. Its signature product, ProClose(R), gives lenders control over their own closing documents and provides an extensive library of lender and industry-specific forms and customized reporting capabilities, creating accurate, compliant closing documents with secure electronic delivery. A staff of mortgage and technical professionals support lenders nationwide with strict regulatory standards, ensuring that all documents in its vast library meet all legal compliance guidelines. Customized reports and strong investor relationships help Mortgage Banking Systems meet the unique needs of its lenders and deliver on its commitment to 100 percent customer satisfaction. For more information, visit www.ProClose.com.