Leadership Corner: Cindy Berman, EVP, Chief Compliance Officer & Regulatory Counsel
Cindy Berman has been in the mortgage industry for 39 years, with over 10 of those years at Freedom Mortgage. She grew up in rural Montgomery County, PA and currently resides in Bucks County, PA, in a small town nestled between Philadelphia and New York. She received her B.A. from the University of Pennsylvania, and a J.D. from Villanova University. Not only is she involved with industry-related committees like the Mortgage Bankers Association, American Bar Association and the Philadelphia Bar Association, but she is also involved with charities such as Shir Ami Food Bank in Bucks County, PA, Dress for Success of Greater Philadelphia, Children’s Hospital of Philadelphia and St. Jude Children’s Research Hospital.
Cindy has been responsible for developing and managing Freedom Mortgage’s enterprise Regulatory Compliance function that includes regulatory counsel, regulatory change management, regulatory risk-based testing, root cause analysis, and remediation. The residential mortgage industry is highly regulated and, according to Cindy: “Many of these laws are intended to protect consumers in one of the biggest financial transactions of their lives. At each stage of the mortgage lifecycle – from the first time our Loan Advisor speaks with a mortgage applicant, throughout the loan closing and funding, and continuing during the years we service the mortgage – every interaction we have with our customers is governed by laws. Those of us who work in Regulatory Compliance ensure that Freedom Mortgage treats all consumers equally, fairly and in compliance with all applicable laws.”
In order to succeed in the mortgage industry, Cindy gives great advice: embrace change, resolve to be better every single day you show up to work, and never give up! “When I started at Freedom Mortgage, we had a handful of people on our team,” Cindy told us. “Now we have over 50! It is a privilege to work with the outstanding team of talented professionals we’ve assembled to provide top-tier compliance support to Freedom Mortgage.”
Fun Fact: Cindy’s favorite sport is downhill skiing! Her goal is to try a new mountain every season, with her next two destinations being Stowe, VT and Jackson Hole, WY. “It’s so exhilarating and a great way to recharge! I approach my job the same way I do skiing: I set a course, move forward to implement it, and work around obstacles. If I fall, I get up and keep going, gaining momentum along the way!”