Regulatory Compliance and Consumer Credit

We are ready to assist clients, without the needs for “learning time” related to consumer financial services and the unique legal issues arising now. In this regard, our recent work for clients has included:

• Representing lenders and servicers in approval process, compliance and investigations for FHA, VA, Ginnie Mae and other governmental programs.
• Representing sellers/servicers in approval and compliance issues under GSE guidelines (Fannie Mae, Freddie Mac) and government programs (such as HAMP).
• Representing private equity firms as regulatory counsel in the acquisition of mortgage companies and financial assets.
• Representing vendors, service providers and financial institutions in connection with regulatory aspects of capital-raising transactions and other opportunities under the Emergency Economic Stabilization Act of 2008 (a/k/a the TARP) and related government agency initiatives.
• Defense of a mortgage lender in a nationally significant fair lending investigation by a federal government agency.
• Representing global business process outsource firm in due diligence and acquisition of bank-owned mortgage servicing platform and operation of national servicing business.
• Representing mortgage lenders in end-to-end rollout of FHA retail lending operations in accordance with federal and state laws and agency guidelines.
• Buy-side counsel for a major payment processor in several acquisition transactions.
• Representing creditors and others in bankruptcy proceedings of major subprime mortgage lenders.
• Development for bank affiliates of “hybridized” financial services products involving insurance and consumer credit.
• Testimony before state legislatures and the U.S. Congress on the impact of legislation on current credit markets, along with representation of national lending trade groups and industry organization in state legislative and regulatory matters.
• Defense of examination and enforcement actions before state banking and mortgage regulators keyed to current examination priorities such as defaults, entity structures and licensing.
• Design of consumer credit products and process flows to comply with existing and new state, federal and GSE guidelines and laws.
• Representing, as regulatory and procurement counsel, national service providers to the banking and financial services industry, including compliance and BPO solutions providers.
• Defense of insurance services providers in regulatory and contested case proceedings before State Departments of Insurance.
• Advice to major secondary market participants on legal liability arising from state “predatory lending” and similar laws and appropriate steps to mitigate such liability in secondary market transactions.
• Internal investigations into and follow up advice on lending practices, internal controls and risk mitigation programs in consumer lending.
• Representing a major debt buyer in the acquisition and servicing of a “scratch-and-dent” portfolios of residential mortgage loans.
• Handling federal government investigations into marketing, lending and settlement practices.
• Negotiations and disputes involving credit insurance, mortgage insurance and other ancillary credit-related products.