The publisher of a magazine for mortgage professionals has founded a new association to represent the industry.

Mortgage Compliance Professionals Association of America promises to provide members a forum to enhance their skills and exchange ideas as well as host monthly and annual meetings, according to its website. The new group plans to work with the Mortgage Bankers Association to advocate for legislative and regulatory changes, but it is not affiliated with the larger association.

MCPAOA was founded by Ben Slayton, publisher of Mortgage Compliance Magazine. Burton Embry, executive vice president and chief compliance officer at Primary Residential Mortgage in Las Vegas, has been named the association's first president.

The association offers free membership for compliance professionals while mortgage industry companies can sign up for an undisclosed fee.

MCPAOA is based in Austin, Texas. So far the group's lists no staff and does not say whether it is for-profit or nonprofit. www.mcpaoa.org

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