Mortgage Lending Compliance

In our practice, we focus on mortgage loan origination, servicing, and document preparation. We advise clients on drafting loan documentation, policies, and procedures, conduct transactional due diligence, and provide guidance on compliance with federal and state mortgage lending laws, including loan originator compensation requirements. We also counsel mortgage technology vendors, third party loan processors, and underwriting companies, including offshore providers, on regulatory compliance. Our team regularly represents clients before federal agencies and government sponsored enterprises, helping them navigate complex regulatory frameworks and mitigate the risk of noncompliance. 

We provide daily licensing and compliance counsel to numerous mortgage lenders/servicers regarding nationwide licensing and compliance matters, and in a number of cases, we’ve done so since the inception of the company’s operations. We conduct regular monitoring to ensure licenses remain in good standing and are updated to reflect changes in the organizational structure and to facilitate the introduction of new products and services. We assist compliance counsel with legal and regulatory compliance matters to ensure familiarity with company operations in advance of changes and interface with regulatory agencies to anticipate and preclude regulatory questions on examination or investigation. Our team also interfaces with regulatory agencies to obtain the necessary approvals for changes of control, mergers, acquisitions, and asset purchases involving licensed entities. 

Our group includes legal pioneers in this niche area of consumer financial services, representing manufacturers, retailers, lenders, and community operators. We continuously assist lenders and financing sources in rolling out new lending programs and expanding their lending footprints. Our lawyers also advise regularly on title issues in several states and have represented the industry in developing updates to titling laws. 

Our attorneys draft and review policies and procedures and assist clients in developing and implementing effective compliance management systems. In addition, we counsel clients on examinations and audits and help them respond to enforcement actions. Our team advises clients every step of the way, from issues with onboarding to day-to-day servicing matters, servicing transfers, escrow requirements, flood insurance, force-placed insurance, credit reporting, Servicemembers Civil Relief Act (SCRA) and corresponding state laws, third-party service providers, or anything in between. And if loans get into trouble, the team offers guidance on federal and state laws and regulations governing default servicing, including collection, loss mitigation, foreclosure, real estate owned (REO) properties, and property preservation. We also track new legislation and regulations and provide guidance on adapting to and implementing them.

Our attorneys have designed, developed, and implemented many of the private reverse mortgage programs available today. We advise originators, lenders, servicers, investors, and startup equity access companies relating to the FHA’s Home Equity Conversion Mortgage (HECM) program, the Department of Housing and Urban Development (HUD)’s rulemaking, and the Consumer Financial Protection Bureau (CFPB), state, and civil examinations and enforcement actions. Our counsel covers issues ranging from mortgagee letters and handbook considerations to state disclosure, fee, and licensing requirements, regulatory approvals, capital raises, and acquisition of lenders or servicing rights. We also work with home equity access companies on home equity and appreciation-sharing products, ground leases, and sale-leaseback programs, advising on program design, regulatory approvals, and capital-raising activities.