Mortgage Banking Solutions in Compliance, Transactions, and Defense Attorney Advertising
The mortgage banking industry is changing rapidly. We offer broad regulatory experience, formidable skill in litigation, and depth in enforcement matters and transactions.
Piecing together the alphabet soup of statutes and regulations governing the mortgage banking industry is our business and the stakes have never been higher. Our mortgage banking attorneys help residential and commercial mortgage banking clients develop strategies for success. COMPLIANCE We advise on issues such as loan originator compensation and steering restrictions, risk retention, repayment requirements, lending and servicing standards and restrictions, and disclosure requirements. We also counsel clients on state laws related to licensing, permissible fees, unfair practices, disclosures, and advertising, among others. We assist with the ever-expanding range of federal laws: the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Truth in Lending Act (TILA), the Real Estate Settlement Procedures Act (RESPA), the Fair Credit Reporting Act (FCRA), the Fair and Accurate Credit Transactions Act (FACTA), the Equal Credit Opportunity Act (ECOA), the Fair Debt Collection Practices Act (FDCPA), the Fair Housing Act (FairHA), the Home Mortgage Disclosure Act (HMDA), and the Gramm-Leach-Bliley Act (GLBA). STATE AND FEDERAL LICENSING We help clients acquire and maintain the state licenses needed to finance, broker, and service mortgages or engage in consumer credit finance activities. We also advise on SAFE Act requirements; assist with branch, loan officer, trade name, and renewal or recertification requirements; and identify and obtain licenses and approvals related to stock and asset acquisitions. In addition, we help clients secure approvals from federal agencies, including Ginnie Mae, FHA, and VA, and the GSEs. TRANSACTIONS, DUE DILIGENCE, AND AUDITS We assist with mergers and acquisitions, liquidations of distressed assets, purchases and sales of mortgage loans, servicing rights and other assets, formation of joint ventures and strategic alliances, and the establishment of warehousing and other credit facilities. We conduct due diligence and compliance audits, and develop procedures when corrective action is necessary. LITIGATION/ENFORCEMENT DEFENSE Ballard Spahr is home to a pre-eminent financial services litigation practice. We defend clients nationwide in class actions, single-plaintiff claims, regulatory proceedings, and other complex mortgage litigation. We also defend clients in administrative enforcement proceedings and investigations, including CFPB examinations and enforcement actions, state and federal audits, fair housing and fair lending complaints and investigations, RESPA enforcement actions, inspector general investigations, and Mortgagee Review Board actions. We help clients respond quickly and efficiently to state attorney general inquiries to avoid litigation and, when necessary, defend clients before state attorneys general and agencies charged with enforcing consumer finance laws. OUR CLIENTS Financial institutions Mortgage lenders, brokers, and servicers Secondary-market investors Insurance companies Investment bankers Settlement service providers Home builders Technology vendors Collection agencies Document preparation companies Real estate companies Telemarketers Loan fulfillment companies Trade associations
In addition to experience and skill, we bring strong industry relationships, a current and educated viewpoint, and a national framework to support a vast range of needs. Our lawyers devise forward-thinking solutions to get the best results. We respect and meet our clients service needs, anticipate the impact of national events and legal developments on clients interests, and take action to keep clients agile and informed. MORTGAGE SERVICING REFORM We track the regulatory and legislative efforts to impose national mortgage servicing standards, including those connected to the CFPB s servicing rules and the national mortgage settlement, and advise clients on any necessary changes to policies, procedures, and operations. Our attorneys are experienced in reviewing servicing and foreclosure practices, and we counsel clients that are likely subjects of future regulatory investigations and compliance orders. Our Collection Documentation Task Force focuses on the rapid spread of document-related scrutiny, including issues related to the mortgage foreclosure process. FAIR LENDING To help providers of consumer credit prevent, manage, and defend against fair lending violation claims, we assembled a team of attorneys with skill and experience handling a wide variety of fair lending issues. This task force brings together regulatory attorneys who deal with fair lending law compliance, litigators who defend against claims of fair lending violations, and labor attorneys who understand the statistical analyses that underlie fair lending assessments and discrimination claims. OUR TEAM Our comprehensive platform is supported by attorneys dedicated to: Consumer financial services Banking regulation and supervision Mergers and acquisitions/ private equity Intellectual property Labor and employment Privacy and data security White collar/investigations E-Discovery and data management INDUSTRY RELATIONSHIPS Our Mortgage Banking Group has strong industry relationships in both the private and public sectors, and its presence in Washington, D.C., benefits clients that require experienced representation before federal agencies, such as the CFPB, the U.S. Department of Housing and Urban Development, the Federal Trade Commission, the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Justice Department. AN EDUCATED PERSPECTIVE Our practice leaders put their knowledge to work for clients by authoring industry resource books and compliance guides for leading organizations such as the Mortgage Bankers Association. They also are frequent speakers at industry conferences on topics such as the CFPB s ability-to-repay, loan originator compensation, and loan servicing rules. In addition, the Group publishes a biweekly Mortgage Banking Update, which provides timely, useful analysis of the latest industry developments. Our blog, CFPB Monitor, delivers news, guidance, and insightful perspectives to companies affected by the Consumer Financial Protection Bureau. It was named one of the 100 best law blogs in the nation by the American Bar Association. Visit us at www.cfpbmonitor.com.
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