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MMBBA Members can now take advantage of a money-saving ‘Pre-Exam Loan File Review Program’ that will help them prevent issues when audited by the Office of the Commissioner of Financial Regulation. In an agreement with Steve Lovejoy’s law firm of Shumaker Williams, MMBBA members may participate in a mortgage document file review program for a significantly discounted cost of only $100 per file (normally $150).

Former Assistant Commissioner from the Maryland Office of Financial Regulation, George Kinsel, with his vast knowledge and 33 years’ experience in auditing mortgage files, will conduct the review of loan files for compliance for both Maryland and Federal law. His reviews will not be in the nature of legal advice. However, Steve Lovejoy has offered to “back up” any issues which George identifies. If legal issues arise necessitating creating or amending loan document forms or researching a novel issue of law, Shumaker Williams lawyers will be involved in resolving those matters, but at a reduced MMBBA Member rate. This new MMBBA member-benefit program does not include having Mr. Kinsel’s physical attendance at an exam, but he will be available to do so for only $100 per hour (portal to portal) which is a 50% discount to MMBBA members. Only MMBBA members may avail themselves of this offer.

To take advantage of the program, a broker/owner/manager must first contact MMBBA so that membership status can be confirmed. MMBBA will then advise Shumaker Williams that the member will be contacting him for the loan file review program at the MMBBA Member discount rate.