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Wednesday, May 27, 2020

  • 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)

    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).

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