MERRICK, N.Y. - s4story -- Lenders Compliance Group®, the first full-service mortgage compliance firm in the United States, announces the issuance of the Artificial Intelligence Policy Program for Mortgage Banking.

While there are myriad standards and Best Practices to help organizations mitigate the risks of traditional software or information-based systems, the risks posed by AI systems are in many ways unique.

Without proper controls, AI systems can amplify, perpetuate, or exacerbate inequitable or undesirable outcomes for individuals and communities. With appropriate controls, AI systems can mitigate and manage inequitable outcomes.

Jonathan Foxx, the Chairman of Lenders Compliance Group, told mortgage industry media that LCG had researched and drafted these AI policies and procedures over the past 6 months.

In his written statement to the press, Mr. Foxx stated: "We are the very first regulatory compliance firm to provide a cost-effective, broad program devoted to the implementation of artificial intelligence by mortgage banking entities. Our policies are continually updated and maintained in response to rapidly changing AI technologies and their impact on originating and servicing residential mortgage loans."

More on S For Story

• Kateryna Dronova Release New Children's Picture Book - Azuzu Saves the Day
• Aristata Press Announces the Release of Feeding the Enemy: Soviet Women in Nazi Labor Camps in Norway by Liv Mjelde
• Crunchbase Ranks Phinge Founder & CEO Robert DeMaio #1 Globally. Meet him in Las Vegas-Week of CES to Learn About Netverse, Patented App-less Platform
• Renowned Nutritionist and Alternative Medicine Specialist Dr. Sebi and His Method of Treating Disease Are the Focus of New Book
• IODefi Introduces New Web3 Infrastructure Framework as XRP Ledger Development Gains Global Attention

The Artificial Intelligence Policy Program for Mortgage Banking consists of the following core documents:

1.       ARTIFICIAL INTELLIGENCE POLICY PROGRAM – OVERVIEW

2.       ARTIFICIAL INTELLIGENCE POLICY – FOUNDATIONAL GUIDELINES

3.       ARTIFICIAL INTELLIGENCE WORKPLACE POLICY

4.       ARTIFICIAL INTELLIGENCE CREDIT UNDERWRITING POLICY

5.       ARTIFICIAL INTELLIGENCE – DO & DO NOT POLICY

6.       ARTIFICIAL INTELLIGENCE – ETHICS POLICY

A demonstration conducted by Vivienne Ross, CRCM, Projects Coordinator and Client Relations Manager, discussed the unique features of the Policy Program, designed to work with mortgage banking institutions. Ms. Ross said, "Our Compliance Managers review the policies with clients as stand-alone documents. However, a consolidated version is available. What is really important is that we aim to align the text with our clients' compliance and operational needs. Plus, we maintain the Policy Program for 12 months at no additional fee."

More on S For Story

• Terizza Forms Strategic Collaboration with UC San Diego to Pioneer Next-Generation Distributed AI Infrastructure
• EnergyStrat Launches Global LNG Risk Outlook 2025–2030
• Strong Revenue Gains, Accelerating Growth, Strategic Hospital Expansion & Uplisting Advancements: Cardiff Lexington Corporation (Stock Symbol: CDIX)
• Holiday Decorations Most Likely to Cause Injuries
• UK Financial Ltd Confirms Official Corporate Structure of the Maya Preferred Project and Its Dual-Class Token System

Regulatory Compliance

The Artificial Intelligence Policy Program for Mortgage Banking meets regulatory scrutiny, as follows:

• Second Line of Defense
• Purpose: Compliance Functions, Self-Evaluation, Risk Assessment
• Process: Policy, Procedures, Internal Controls, Risk Monitoring, Governance

Lenders Compliance Group® provides a dedicated request form for presentation material HERE.

For more information, please visit our Compliance Solutions webpage HERE.

LENDERS COMPLIANCE GROUP® is the first and only full-service, mortgage risk management firm in the United States, specializing exclusively in regulatory compliance for banks and nonbanks, and offering the largest suite of compliance support services in residential mortgage banking.