CliftonLarsonAllen has acquired Bankers Advisory Inc., a Belmont, Mass.-based consulting firm that works with mortgage institutions on regulatory compliance and quality control.
Bankers Advisory has 35 professionals, including president Anna DeSimone, who founded the firm in 1986. Bankers Advisory currently serves more than 100 banks and mortgage lenders nationally, including depository institutions with assets over $200 billion.
“I founded Bankers Advisory to provide clear guidance for mortgage lenders in an ever-changing compliance universe,” DeSimone said in a statement. “CLA’s depth of national resources, talent and expertise will only enhance the services we provide. We look forward to growing our capabilities with CLA.”
“Bankers Advisory group has garnered a strong reputation serving hundreds of mortgage institutions,” said Jerry Felicelli, managing principal of CLA's financial institutions practice. “The firm has earned an unprecedented reputation for providing premium federal and state compliance and fair lending consulting services.”
Felicelli added, “We believe the financial services industry will feel the impact of regulation even more going forward as the industry responds to the Consumer Financial Protection Bureau rules on mortgage loans. We also believe there will be more regulatory enforcement pressure in 2014, prompting banks and credit unions to reassess their risk and compliance efforts. Our acquisition of Bankers Advisory will greatly expand our ability to serve the ongoing complex needs of financial institutions.”