MBA Live: LIRC

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Tuesday, May 26, 2020

  • Opening Remarks: The State of the Industry


    Speaker(s)

    Robert (Bob) Broeksmit, CMB, President and Chief Executive Officer, Mortgage Bankers Association

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    MBA’s President and CEO, Bob Broeksmit, provides an update on the regulatory initiatives MBA is taking on behalf of its members. 

    Speaker(s)

    Robert (Bob) Broeksmit, CMB, President and Chief Executive Officer, Mortgage Bankers Association

    Robert (Bob) Broeksmit, CMB is a senior finance executive and corporate officer with a 33-year career in the mortgage sector. He has directed all aspects of lending activities, including marketing, sales, operations,  secondary marketing, loan servicing, and default management. He has also served as a mortgage underwriting expert testifying on many large, high-profile cases. Prior to joining MBA, Broeksmit served as President and Chief Operating Officer with Treliant, heading the firm’s mortgage litigation support practice. Before Treliant, Broeksmit held senior leadership positions in the mortgage business, including 14 years with Chevy Chase Bank (including after its purchase by Capital One). He also was Vice President at Prudential Home Mortgage for seven years. He has overseen annual originations of $9 billion, a balance sheet of $10 billion in residential mortgage and a servicing portfolio of $20 billion. He is past Chairman of MBA’s Residential Board of Governors and a member of its Board of Directors.

  • Regulatory Insight


    Speaker(s)

    Robert (Bob) Broeksmit, CMB, President and Chief Executive Officer, Mortgage Bankers Association

    Brian Johnson, Former Deputy Director, CFPB and Partner, Alston & Bird, LLP

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    In this insightful interview, hear the former Deputy Director of the CFPB talk about his perspective on the current and future regulatory landscape. 

    Speaker(s)

    Robert (Bob) Broeksmit, CMB, President and Chief Executive Officer, Mortgage Bankers Association

    Robert (Bob) Broeksmit, CMB is a senior finance executive and corporate officer with a 33-year career in the mortgage sector. He has directed all aspects of lending activities, including marketing, sales, operations,  secondary marketing, loan servicing, and default management. He has also served as a mortgage underwriting expert testifying on many large, high-profile cases. Prior to joining MBA, Broeksmit served as President and Chief Operating Officer with Treliant, heading the firm’s mortgage litigation support practice. Before Treliant, Broeksmit held senior leadership positions in the mortgage business, including 14 years with Chevy Chase Bank (including after its purchase by Capital One). He also was Vice President at Prudential Home Mortgage for seven years. He has overseen annual originations of $9 billion, a balance sheet of $10 billion in residential mortgage and a servicing portfolio of $20 billion. He is past Chairman of MBA’s Residential Board of Governors and a member of its Board of Directors.

    Brian Johnson, Former Deputy Director, CFPB and Partner, Alston & Bird, LLP

    Before joining the firm, Brian served as deputy director of the Consumer Financial Protection Bureau (CFPB), where he was responsible for policy development, strategic planning, and execution of the CFPB’s statutory supervision, examination, enforcement, rulemaking, and research activities. He conceived and led the creation of high-profile agency initiatives, including the Office of Innovation, Taskforce on Federal Consumer Financial Law, call for evidence RFI series, policy symposia series, and Start Small, Save Up emergency savings program.  Brian held various positions on Capitol Hill, including policy director and chief financial institutions counsel on the House Committee on Financial Services, where his portfolio covered consumer protection and credit, mortgage origination, credit reporting, banking, and data security. His efforts on the committee involved drafting legislation to provide regulatory relief to bank, credit union, and non-depository financial institutions, as well as conducting oversight of the activities of the CFPB, Financial Stability Oversight Council, Federal Deposit Insurance Corporation, Office of Financial Research, Office of the Comptroller of the Currency, Federal Reserve System, and National Credit Union Administration.

  • Meet the GSE's New General Counsels


    Speaker(s)

    Stergios "Terry" Theologides, Executive Vice President, General Counsel, and Corporate Secretary, Fannie Mae

    Amy Bishop, General Counsel, Quicken Loans, Inc.

    Ricardo Anzaldua, Executive Vice President, General Counsel and Corporate Secretary, Freddie Mac

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    Both Fannie Mae and Freddie Mac have relatively new General Counsels. They join us for an exclusive interview and answer your questions during a live chat at the end of the session. 

    Speaker(s)

    Stergios "Terry" Theologides, Executive Vice President, General Counsel, and Corporate Secretary, Fannie Mae

    Stergios "Terry" Theologides oversees Fannie Mae’s Legal Department, Government and Industry Relations, and serves as a senior advisor to the CEO and Board of Directors. Terry joined Fannie Mae in 2019, bringing over 20 years of legal and business experience, specifically in financial services and regulatory environments.  He previously served as SVP, GC, and Secretary at CoreLogic, Inc.  Before that, Terry was EVP and GC for Morgan Stanley's U.S. residential mortgage business.  Terry serves on the Strategy Council of the UnitedLex Corporation’s Board of Directors.  From 2007 to 2009, he served as a member of the Federal Reserve Board's Consumer Advisory Council.

    Amy Bishop, General Counsel, Quicken Loans, Inc.

    Amy Bishop is the General Counsel of Quicken Loans, based in Detroit, Michigan.  Amy leads the Quicken Loans’ Legal team. The Legal team is a group of connected sub-teams focusing on traditional legal functions, regulatory mortgage compliance and risk management. Our regulatory compliance program includes company and mortgage loan originator licensing, origination and servicing compliance and examination management. Central to the Company’s regulatory compliance program is the integration of compliance into Quicken Loans’ extensive technology platform that drives the business. Recently, Amy been focused on key business strategies, Rocket Mortgage, the first end-to-end completely online mortgage experience, eclosings and other innovative technology initiatives, the new HMDA rule and overseeing federal and state examinations.  Amy joined Quicken Loans in September 1998 after four years as a staff attorney with a community bank.  Quicken Loans is the nation’s largest online mortgage lender and the second largest retail mortgage lender overall.  The company employs more than 17,000 team members. Quicken Loans offers a 50-state, national, centralized, internet-based platform to deliver mortgages and an ultra-high level of client service. For ten years in a row now, J.D. Power has ranked Quicken Loans highest in the nation in customer satisfaction for Primary Mortgage Origination. And for six consecutive years, Quicken Loans was also ranked highest for Mortgage Servicing.

    Ricardo Anzaldua, Executive Vice President, General Counsel and Corporate Secretary, Freddie Mac

    Ricardo A. Anzaldua is executive vice president, general counsel and corporate secretary of Freddie Mac. In his role as principal legal counsel, Anzaldua oversees all legal and regulatory strategies, services and resources, and manages all corporate governance matters.

    Before joining Freddie Mac, Anzaldua was executive vice president and general counsel of MetLife, Inc., where, from 2012 to 2017, he was responsible for the company’s global legal operations, global compliance and government relations. Anzaldua began his legal career at the law firm of Cleary, Gottlieb, Steen & Hamilton LLP, where he was named partner in 1999.

    He earned his law degree from Harvard Law School and holds a Bachelor of Arts degree from Brown University, where he studied development economics and Latin American history.

    Anzaldua is chairman of the board of trustees for the International Institute of Rural Reconstruction, and he serves on the boards of the Minority Corporate Counsel Association and the New York City Bar. He is a member of the Hispanic National Bar Association and American Bar Association.

     

     

     

  • Washington Update


    Speaker(s)

    Justin Wiseman, Associate Vice President and Managing Regulatory Counsel, Mortgage Bankers Association

    Anthony (Tony) Alexis, Partner, Goodwin

    Jeffrey Naimon, Partner, Buckley LLP

    Shayna Arrington, Chief Compliance Officer, The Money Source Inc. (TMS)

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    Get an overview of the state of play in Washington as panelists discuss possible regulatory changes and policy initiatives with a focus on how MBA is working on behalf of members like you in response to COVID-19.

    Speaker(s)

    Justin Wiseman, Associate Vice President and Managing Regulatory Counsel, Mortgage Bankers Association

    Justin Wiseman is an Associate Vice President and Managing Regulatory Counsel in the Public Policy and Industry Relations department at the Mortgage Bankers Association. Justin manages MBA’s Regulatory Policy team that covers legal issues, trends in litigation, regulatory compliance matters, and servicing as well as provides strategic direction to advance MBA member priorities on regulatory and legal matters. This team also analyzes pending rules and legislation, provides comments on behalf of MBA members on pending rules or regulations and helps develops MBA’s posture towards innovation and innovation policy. Prior to this, he staffed MBA’s Loan Administration committee, providing policy development insights and working with stakeholders to advocate on behalf of the industry. Justin assisted the Department to formulate responses to policy initiatives and helps monitor relevant trends in the servicing market. Justin also worked at MBA as Associate Regulatory Counsel to analyze forthcoming legislation and administrative rule-making. Before joining MBA, Justin clerked for a federal District Court in the Middle District of Tennessee and worked with the Center for Strategic and International Studies on European and Transatlantic security issues.

    Anthony (Tony) Alexis, Partner, Goodwin

    Tony Alexis is a partner in Goodwin’s Financial Industry practice and serves as the head of the firm’s Consumer Financial Services Enforcement practice. His practice focuses primarily on consumer financial services and government and regulatory investigations. Prior to joining Goodwin in 2017, Mr. Alexis served as Assistant Director and Head of the Office of Enforcement at the Consumer Financial Protection Bureau (CFPB), where he developed and managed the CFPB’s enforcement strategy, consumer financial investigations and litigation. He also coordinated strategy, investigations and litigation in areas such as payday/short-term loans, mortgages, credit cards, credit reporting, debt collection, student and automobile lending, and payments systems with leaders of the enforcement and regulation departments at the Department of Justice (DOJ), U.S. Attorneys’ Offices, state attorneys general, U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of Currency (OCC), and the New York State Department of Financial Services (NY-DFS). Mr. Alexis also served as a member of the CFPB’s Executive Committee and its Civil Penalty Fund Governance Board. He joined the CFPB as the Deputy Enforcement Director for Field Litigation, and was responsible for enforcement work conducted by enforcement’s four regional offices.

    Jeffrey Naimon, Partner, Buckley LLP

    Jeff Naimon is a Partner in the Washington, D.C., office of Buckley LLP, with more than 20 years of experience assisting bank and nonbank financial services providers (and investors in same) with regulatory, enforcement, and transactional matters. He defends financial services companies facing complex examination or enforcement matters before the CFPB, FTC, and federal and state banking regulators, with a focus on fair lending, UDAAP, loan servicing, privacy and credit reporting, debt collection, servicemember protections, and other consumer protection issues. He assists banks and nonbanks (including fintech entities) structure, negotiate, and operate a variety of partnerships, outsourcing programs and other third-party arrangements. Mr. Naimon also assists in negotiating acquisition, capital markets, and servicing transactions.   He serves on the Governing Committee of the Conference on Consumer Finance Law and has authored numerous articles on consumer financial services.

    Shayna Arrington, Chief Compliance Officer, The Money Source Inc. (TMS)

    As the Chief Compliance Officer at The Money Source Inc. (TMS), Shayna oversees compliance across all business channels, including Correspondent, Servicing, Subservicing, and formerly the company’s Retail and Wholesale Origination Channels. This includes oversight of company legal and regulatory compliance, change management, vendor management, client management, quality control, compliance testing, licensing and examinations. Before joining TMS, Shayna worked at a mortgage banking focused law firm where she served as outside compliance counsel to a variety of lenders and servicers. She has extensive government and regulatory experience, including time at the Department of Housing and Urban Development and the Department of Justice.

  • Credit Reporting Issues during the Pandemic


    Speaker(s)

    Nanci L. Weissgold, Partner, Alston & Bird, LLP

    Spencer Mosness, SVP and General Counsel, SMS | Shellpoint Mortgage Servicing

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    The pandemic has presented unique challenges, including around the issue of credit reporting. Hear this special update.

    Speaker(s)

    Nanci L. Weissgold, Partner, Alston & Bird, LLP

    Nanci Weissgold is a member of Alston & Bird’s Financial Services & Products Group and a co-leader of the Consumer Finance Regulatory Compliance team. She advises financial institutions and financial service providers on issues relating to mortgage lending and mortgage servicing, valuation, and other consumer lending issues as part of her national regulatory compliance practice. This includes: (i) counseling clients on compliance with state and federal laws that regulate consumer financial products and services, (ii) working with state regulators to obtain approvals, licenses or regulatory guidance, (iii) developing compliance management systems, (iv) performing CFPB readiness exams, defending administrative enforcement actions (including state government audits, single or multi-state examinations, and investigations) and assisting in litigation involving regulatory compliance issues, and (v) representing bank and non-bank lenders and appraisal management companies on valuation issues (including, for example, compliance with appraisal independence requirements under TILA, Interagency Appraisal and Evaluation Guidelines, FIRREA, AIR, ECOA, state AMC, appraisal and real estate broker laws). Nanci is a frequent speaker and presenter at legal and industry conferences and webinars, and has published numerous articles on mortgage banking, valuation and consumer finance related topics. She has been named a Fellow of the American College of Consumer Financial Services Lawyers, and she is peer rated in the Martindale-Hubbell® directory as AV® Preeminent, the highest level of professional excellence. Professional affiliations include Women in Housing and Finance Foundation, primary outside counsel, 2007-2009 and The Conference on Consumer Finance Law, Governing Committee.

    Spencer Mosness, SVP and General Counsel, SMS | Shellpoint Mortgage Servicing

    Spencer Mosness is the General Counsel of NewRez LLC d/b/a Shellpoint Mortgage Servicing, based in Greenville, South Carolina. In his role as General Counsel, Mr. Mosness leads Shellpoint’s Legal and Compliance teams. The Legal and Compliance teams at Shellpoint use innovative and traditional tools to successfully position Shellpoint in the complex regulatory environment of residential mortgage servicing. With the help of a tremendous team at Shellpoint, Shellpoint has become one of the nation’s largest non-bank servicers.

    Prior to joining Shellpoint, Mr. Mosness served as SVP & Deputy General Counsel at Stearns Lending, LLC based in Orange County, California. Earlier in his career Mr. Mosness was the General Counsel of Primary Capital Mortgage, LLC in Atlanta, Georgia and Premier Home Mortgage, Inc. in Rapid City, South Dakota. Mr. Mosness began his legal career at the law firm of Costello, Porter, Hill, Heisterkamp, Bushnell & Carpenter LLP where he was one of the youngest attorneys named partner in its 100+ year history.

  • RESPA Compliance and COVID-19


    Speaker(s)

    Phillip Schulman, Partner, Mayer Brown LLP

    Holly Spencer Bunting, Partner, Mayer Brown LLP

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    Speaker(s)

    Phillip Schulman, Partner, Mayer Brown LLP

    Phillip Schulman is a partner in Mayer Brown's Washington DC office and a member of the Consumer Financial Services group. His practice focuses on a range of matters related to real estate finance, mortgage banking and consumer finance in both the primary and secondary markets. He represents companies in the mortgage lending, title insurance and real estate industries in connection with administrative and regulatory compliance matters, including those involving the Consumer Financial Protection Bureau (CFPB), the US Department of Housing and Urban Development (HUD), the US Department of Veterans Affairs (VA), Ginnie Mae, Fannie Mae and Freddie Mac. He advises clients on matters related to approval, origination and servicing requirements under the US Federal Housing Administration's single-family loan programs. He also defends companies in connection with governmental audits, investigations and enforcement proceedings, before, among others, the CFPB, HUD, the VA, the DOJ and the Federal Trade Commission, with particular focus on defense of False Claims Act, Financial Institutions Reform, Recovery, and Enforcement Act, Mortgage Review Board and Real Estate Settlement Procedures Act enforcement matters. Mr. Schulman served as chief legal counsel for HUD’s Office of Inspector General and Mortgagee Review Board. He is a frequent lecturer on real estate and mortgage banking matters and has co-authored several books on RESPA, including A Practical Guide To The Real Estate Settlement Procedures Act.

    Holly Spencer Bunting, Partner, Mayer Brown LLP

    Holly Spencer Bunting is a partner in Mayer Brown’s Washington DC office and a member of the Consumer Financial Services group. She practices in the areas of residential mortgage banking and consumer finance and concentrates on issues of federal and state regulatory compliance and enforcement. Holly represents companies in the mortgage lending, title insurance and real estate industries on regulatory compliance matters and defends clients subject to government audits, investigations and enforcement proceedings. She also provides counsel on federal and state consumer credit and protection laws and regulations, including the Real Estate Settlement Procedures Act (RESPA), and reviews and analyzes existing and proposed business arrangements for compliance with federal and state requirements.  Holly focuses particular attention on assisting companies in complying with the anti-kickback requirements of RESPA, including counseling clients on the creation and operation of affiliated business arrangements, reviewing proposed and existing business relationships and drafting disclosures under Section 8 of RESPA. She also advises mortgage companies and settlement agents on the TILA-RESPA Integrated Disclosure regulations and predecessor disclosure requirements.

  • Applied Compliance: Supervision and Examinations


    Speaker(s)

    Mitchel H. Kider, Chairman and Managing Partner, Weiner Brodsky Kider PC

    Vernon Tanner, CRCM, Senior Vice President, Operational Compliance Manager, Crescent Mortgage Company

    Fed Kamensky, Member, Weiner Brodsky Kider PC

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    Get actionable advice on addressing the unique challenges the pandemic brings to supervision and exam preparation. 

    Speaker(s)

    Mitchel H. Kider, Chairman and Managing Partner, Weiner Brodsky Kider PC

    Mitchel H. Kider is the Chairman and Managing Partner of Weiner Brodsky Kider PC, a national law firm specializing in the representation of financial institutions, residential homebuilders, and real estate settlement service providers.  Mitch represents banks, mortgage companies, homebuilders, credit card issuers, and other financial service companies in a broad range of litigation and regulatory and compliance matters.  He defends clients in investigations and enforcement actions before the Consumer Financial Protection Bureau, Department of Housing and Urban Development, Department of Justice, Department of Veterans Affairs, Federal Trade Commission, Fannie Mae, Freddie Mac, Ginnie Mae, and various state and local regulatory authorities and Attorneys General offices.  Mitch speaks frequently on regulatory and litigation matters before trade associations and other industry groups.  He is a Fellow of the American College of Consumer Financial Services Lawyers, and a Faculty Fellow of the Mortgage Bankers Association.  Mitch is the author of six books pertaining to residential mortgage finance and also has written numerous law review and real estate journal articles on the subject.  His most recent books are Consumer Protection and Mortgage Regulation Under Dodd-Frank (West/Thomson Reuters 2018) and Real Estate and Mortgage Banking: A New Era of Regulatory Reform (West/Thomson Reuters 2017-2018).

    Vernon Tanner, CRCM, Senior Vice President, Operational Compliance Manager, Crescent Mortgage Company

    Vernon Tanner’s banking career spans more than 25 years starting as a Bank Examiner before entering the private sector as a Loan Officer, Credit Officer, and Chief Compliance Officer. Since 2013, he’s been the Sr. VP and the National Operational Compliance Manager for Crescent Mortgage Company in Atlanta.  He’s been published in the ABA Banking Journal regarding the use of Enterprise Risk Management principals in Compliance Management Systems at Community Banks, and in State Trade Association Journals on the topic of obtaining examination management. He holds the Certified Regulatory Compliance Manager designation.  He’s served in leadership roles in our industry that include guest faculty member and speaker for State Banking Trade Associations on Compliance and Credit topics. He’s an active member of the Compliance Committee for the Mortgage Bankers Association at the State and National level, where his presentations qualify for CLE credits for Attorney’s in our industry. He’s been a panelist for the Atlanta chapter of the Professional Risk Managers International Association, and for CPA firms advising Banks.

    Fed Kamensky, Member, Weiner Brodsky Kider PC

    Fed’s practice focuses on federal and state regulatory compliance matters related to the financial services industry. He represents and advises mortgage lenders, servicers, secondary market investors, and other financial institutions on federal and state mortgage banking and financial services laws, including RESPA, TILA, HMDA, ECOA, FCRA, GLBA, FDCPA, and SCRA, with an emphasis on residential mortgage lending compliance and regulatory issues. Among other things, Fed advises clients on origination and servicing requirements, marketing and advertising practices, quality control plans and compliance management systems, compensation and fee limitations, regulatory approval and licensing, and other business practices.  Fed also advises and assists companies with design and implementation of mortgage lending programs, including FHA-insured reverse mortgages (HECM), proprietary reverse mortgages, adjustable rate loans and home equity lines of credit (HELOCs). In addition, Fed performs regulatory compliance due diligence reviews in connection with the sale and acquisition of forward and reverse mortgage originators.

Wednesday, May 27, 2020

  • Applied Compliance: Ongoing Challenges of TRID Compliance


    Speaker(s)

    Suzanne Garwood, Executive Director and Associate General Counsel, JPMorgan Chase

    Brandy Hood, Counsel, Buckley LLP

    Richard Horn, Managing Member, Garris Horn PLLC

    Jerra Holford Ryan, Senior Vice President, Compliance & QC, SWBC Mortgage

    Read more Read less

    The TILA-RESPA Integrated Disclosure (TRID) rule continues to present many questions and challenges to compliance professionals. Get the latest insight and practical recommendation from a panel of experts. 

    Speaker(s)

    Suzanne Garwood, Executive Director and Associate General Counsel, JPMorgan Chase

    Suzanne Garwood is Executive Director and Associate General Counsel in JPMorgan Chase’s mortgage banking department where she assists with the bank’s compliance related to mortgage production. Prior to joining Chase, Suzanne was outside counsel at two Washington DC-based law firms. While in private practice, Suzanne advised her clients with respect to compliance with consumer protection laws and advocated for her clients before the Consumer Financial Protection Bureau and Congress.

    Brandy Hood, Counsel, Buckley LLP

    Brandy A. Hood is Counsel in the Washington, D.C., office of Buckley LLP, where she advises bank and nonbank mortgage lenders, servicers, and insurers on compliance with federal and state regulatory requirements. Ms. Hood has extensive experience in the Truth in Lending Act-Real Estate Settlement Procedures Act Integrated Disclosure (TRID) rule and the Flood Disaster Protection Act (FDPA), and she speaks on these topics regularly. She also advises on the full range of federal consumer protection laws and regulations, including Section 8 of the Real Estate Settlement Procedures Act (RESPA), the Ability-to-Repay and Qualified Mortgage (ATR/QM) rule, the Loan Originator Compensation rule, and other issues under the Truth in Lending Act (TILA), the Equal Credit Opportunity Act (ECOA), Fair Debt Collection Practices Act (FDCPA), and Fair Credit Reporting Act (FCRA), and the prohibition on unfair, deceptive, or abusive acts or practices (UDAAP).

    Richard Horn, Managing Member, Garris Horn PLLC

    Richard Horn is a former Senior Counsel & Special Advisor in the Consumer Financial Protection Bureau’s Office of Regulations and a former Senior Attorney at the FDIC.  Richard led the CFPB’s design of the TRID disclosures, as well as the qualitative and quantitative consumer testing of the disclosures. As a key architect of the TRID rulemaking, Richard is one of the foremost experts on the rule.  Richard represents companies dealing with the CFPB and other Federal and State regulators in supervisory and enforcement matters. Richard also advises companies regarding compliance with Federal and State consumer financial protection laws, including TRID, RESPA section 8, ATR/QM, Loan Originator Compensation, privacy, and other laws.  Given his experience at two federal regulatory agencies and the private sector, Richard has a unique perspective on dealing with regulatory agencies and policy matters.  Richard represents clients of all sizes, including large depository institutions, title insurance companies, real estate brokerages, and new start-up Fintech companies. 

    Jerra Holford Ryan, Senior Vice President, Compliance & QC, SWBC Mortgage

    Jerra H. Ryan is a mortgage professional with three decades of service in the mortgage and real estate community. Well-versed in all areas of residential loan production, from origination through post-closing, Jerra set the standard for loan quality excellence and led production as a top-ranked originator and producing branch manager before moving into senior leadership as a compliance officer.  As Senior Vice President of Compliance and QC at SWBC Mortgage Corporation, Jerra advocates for what we can do in mortgage compliance. She brings a unique fusion of experience as a sales leader, paralegal, and consumer educator to her roles and drives the alignment between compliance, quality control, and production to support business strategy.  In addition to her responsibilities at SWBC, Jerra also serves in various leadership roles, including the Chair of the MBA Regulatory Compliance Sub-Committee, a Director on the Board of Mortgage Compliance Professionals Association of America, and past President of the Colorado Mortgage Lenders Association (CMLA).

  • Applied Compliance: Implementing Loan Originator Compensation


    Speaker(s)

    Richard Andreano, Jr., Partner, Ballard Spahr LLP

    R. Andrew Arculin, Partner, Venable LLP

    Joseph (Jed) Mayk, Partner, Hudson Cook, LLP/CounselorLibrary

    Sheila Strong, Senior Vice President of Compliance and General Counsel, AmeriFirst Home Mortgage

    Read more Read less

    Loan Originator Compensation (LO Comp) continues to be an important regulatory challenge and area of increasing supervisory focus. Our expert speakers walk through hypothetical compensation plans or scenarios to provide their insight and evaluation of what is allowed under the rules and what is not. 

    Speaker(s)

    Richard Andreano, Jr., Partner, Ballard Spahr LLP

    Richard J. Andreano, Jr., is a Practice Leader of the Mortgage Banking Group at Ballard Spahr, and a member of the Consumer Financial Services Group. He has devoted over 30 years of practice to financial services, mortgage banking, and consumer finance law.  Rich advises the mortgage and settlement service industries on regulatory compliance and related matters, including issues concerning the Dodd-Frank Act, Real Estate Settlement Procedures Act, Truth in Lending Act, Equal Credit Opportunity Act, Fair Housing Act, Fair Credit Reporting Act, Home Mortgage Disclosure Act, and Gramm-Leach-Bliley Act.  He assists clients with government agency examinations and with regulatory issues, including loan originator compensation matters, affiliated business arrangement and other RESPA matters, and TRID, HMDA, ability to repay matters.  Rich is the author of the MBA Compliance Essentials Loan Originator Compensation Rule Resource Guide™ and co-author of the MBA Compliance Essentials TILA/RESPA Integrated Disclosure (TRID) Resource Guide™.

    R. Andrew Arculin, Partner, Venable LLP

    Andy Arculin is a partner in Venable’s Regulatory Group and the firm’s Consumer Finance practice. He has over a decade of experience in consumer financial matters, both in private practice and with the federal government. Mr. Arculin advises a wide range of clients on all aspects of the mortgage business from chartering and licensing, to marketing, to loan origination and servicing, to secondary purchase and diligence. Mr. Arculin’s practice focuses on the “alphabet soup” of consumer credit statutes and regulations, including the Real Estate Settlement Procedures Act (RESPA), the Truth in Lending Act (TILA), the Equal Credit Opportunity Act (ECOA), the Home Mortgage Disclosure Act (HMDA), the Fair Credit Reporting Act (FCRA) as well as other federal and state statutes and regulations. Prior to joining Venable, Mr. Arculin served as senior counsel at the Consumer Financial Protection Bureau's Office of Regulations where he was responsible for the development and implementation of consumer financial services regulations, including the TILA-RESPA Integrated Disclosures and the Dodd-Frank Act mortgage rules. Mr. Arculin also played a key role at CFPB in educating the public and industry leaders about the Dodd-Frank mortgage rules and the TILA-RESPA Integrated Disclosures.

    Joseph (Jed) Mayk, Partner, Hudson Cook, LLP/CounselorLibrary

    Jed is a partner in the Pennsylvania office and chair of the firm's Mortgage Lending and Servicing Practice Group. His practice focuses on state and federal consumer finance regulatory compliance for banks and non-bank consumer credit providers, with a particular emphasis on mortgage lending and servicing. He also advises clients on credit reporting, debt collection, unfair trade practice, privacy and data security, and electronic commerce laws and regulations. Jed is a co-author of the RESPA/TIL Integrated Disclosures chapter of The Law of Truth in Lending and the author of the Mortgage Bankers Association's Compliance Essentials: HELOC Resource Guide.  Previously, Jed was a Shareholder with Stevens & Lee PC's Corporate, Finance and Capital Markets Group and was Of Counsel to Blank Rome, LLP's Consumer Financial Services/Retail Banking Group.  Jed was First Vice President of MBNA America Bank, N.A. and was responsible for advising the bank on all aspects of its mortgage lending operations, including regulatory compliance and the negotiation of mortgage loan sale/purchase agreements, subservicing agreements and outsourcing agreements.  Jed is a Fellow of the American College of Consumer Financial Services Lawyers. He is the Former Chair of the Consumer Law Committee of the Pennsylvania Bar Association and is a member of the Consumer Financial Services Committee of the American Bar Association's Business Law Section. He is also a member of the Legal Issues and Regulatory Compliance Committee of the Mortgage Bankers Association.

    Sheila Strong, Senior Vice President of Compliance and General Counsel, AmeriFirst Home Mortgage

    Sheila M. Strong is the Senior Vice President of Compliance and General Counsel at AmeriFirst Home Mortgage (“AmeriFirst”) in Kalamazoo, Michigan. As a member of the senior management team, Ms. Strong ensures that compliance is at the forefront of AmeriFirst operations and strategic planning through her Compliance Management System. The Compliance Management System implements, monitors, improves, and revises corporate policies and procedures to serve the mortgage needs of consumers in a manner that is consistent with ethical lending and servicing practices. As a former mortgage loan originator, Ms. Strong brings real-world experiences in implementing compliance management strategies. Accordingly, Ms. Strong works proactively and collaboratively with each AmeriFirst department to ensure effective and comprehensive compliance with federal, state, and local rules and regulations. Ms. Strong also serves as the Chair for the MBA Legal and Regulatory Compliance Committee.

  • Applied Compliance: Complying Under Temporary Authority and Licensing Issues


    Speaker(s)

    Haydn Richards, Partner, Bradley

    Stacey Valerio, Of Counsel, Ballard Spahr LLP

    Bill Young, Vice President, NMLS Business Services, Conference of State Bank Supervisors (CSBS)

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    November 2019 saw the introduction of a long sought MBA priority--temporary authority to originate loans for loan officers moving from registered to licensed status.  While welcome, companies need to understand how to operationalize this change.  These panelists will discuss necessary compliance checks and implementation procedures to fully utilize temporary authority. 

    Speaker(s)

    Haydn Richards, Partner, Bradley

    Haydn Richards, a Partner with Bradley, has demonstrated that he is one of the foremost leaders in state financial services law and licensing matters. Haydn counsels clients on the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act, financial services licensing, the Nationwide Multistate Licensing System & Registry (NMLS), and CFPB-related compliance matters. Selected by his peers to serve as the Chair of the Industry Advisory Council of the American Association of Residential Mortgage Regulators (AARMR), Haydn regularly interacts with state regulators on behalf of industry members. Notable recent achievements include being the only lawyer nationwide to assist in securing licensing and regulatory approvals relating to the three most prominent transactions in the mortgage sector during 2018. Also, when state regulators entered approximately 30 cease and desist orders against a mortgage servicer on the same day, Haydn successfully negotiated the resolution of those actions over a period of months.

    Stacey Valerio, Of Counsel, Ballard Spahr LLP

    Stacey L. Valerio focuses her practice on the mortgage banking industry. Stacey has more than 20 years' experience, including nearly a decade at the State of Connecticut Department of Banking's Consumer Credit Division, where she handled licensing and enforcement matters, with primary focus on the mortgage industry. In that role, she counseled the Consumer Credit Division, served as an administrative hearing officer, and drafted legislation, legal opinions, and rulings. The position also involved working with various other state and federal agencies, including the state Office of the Attorney General, the FBI, and the CFPB. Stacey was active with the State Regulatory Registry LLC's Lawyers Committee for many years, serving as its chair from 2014 to 2017, and was actively involved with the American Association of Residential Mortgage Regulators (AARMR), serving as a director and an officer.  Stacey has experience counseling clients on a wide variety of regulatory matters at the federal and state levels. Her experience includes licensing and regulatory compliance, legislative initiatives, contract drafting, and the Nationwide Multistate Licensing System & Registry (NMLS).

    Bill Young, Vice President, NMLS Business Services, Conference of State Bank Supervisors (CSBS)

    Bill Young is currently the Vice President of NMLS Business Services at the Conference of State Bank Supervisors (CSBS). Mr. Young is responsible for a team that works with state and federal regulatory stakeholders, as well as industry licensees and advisory groups, to create policies and practices that direct NMLS operations.  Prior to joining CSBS, Mr. Young spent more than twenty years at Freddie Mac and five years in government contracting at the Federal Deposit Insurance Corporation (FDIC) and the Federal Financing Bank (FFB). Throughout his career he has also worked with federal regulators such as Consumer Financial Protection Bureau (CFPB), Office of Federal Housing Enterprise Oversight (OFHEO), US Department of Housing and Urban Development (HUD), the Federal Housing Administration (FHA), and the Government Accountability Office (GAO).

  • Legal Ethics: Conflicts of Interest, A Practical Roadmap


    Speaker(s)

    Thomas E. Spahn, Partner, McGuireWoods LLP

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    This interactive program uses hypotheticals to explore basic conflicts of interest rules, including:  the general prohibition on adversity to current clients; the definition of "client" for conflicts purposes (including corporations, associations, estates and others); the definition of "adversity" for conflicts purposes (including business adversity, adverse financial impact, discovery of clients and positional adversity); the complex rules governing joint representations; the more subtle standard governing adversity to former clients; determining the status of an attorney‑client relationship; application of the "substantial relationship" standard; “material limitation” conflicts; lawyers’ ability to withdraw from a representation to cure a conflict (including the "hot potato" rule); consents that can cure conflicts (including the revocability of consents and prospective consents); disqualification motions based on conflicts of interest (including standards, process and effects).

    Speaker(s)

    Thomas E. Spahn, Partner, McGuireWoods LLP

    Thomas E. Spahn practices as a commercial litigator with McGuireWoods in Tysons Corner, Virginia.  Tom was selected as the 2013 and the 2020 metro-Washington DC "Lawyer of the Year" for "Bet the Company Litigation" by The Best Lawyers in America (Woodward/White, Inc.).  In 2018, Virginia Lawyers Weekly selected him for inclusion in the inaugural Virginia Lawyers Hall of Fame.  Tom has served on the ABA Standing Committee on Ethics and Professional Responsibility, and is a Member of the American Law Institute and a Fellow of the American Bar Foundation.  He has spoken at over 1,900 CLE programs throughout the U.S. and in several foreign countries.  Through links on his website bio, Tom has made available to the public:  his summaries of over 1,600 Virginia and ABA legal ethics opinions, organized by topic; a 300 page summary of his two-volume 1,500 page book on the attorney-client privilege and work product doctrine; over 950 weekly email alerts about privilege and work product cases; materials for over 40 ethics programs on numerous topics, totaling about 10,000 pages of analysis.  Tom graduated magna cum laude from Yale University and received his J.D. from Yale Law School. 

     

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