EMERGING ISSUES TRACK: Coming Changes to Servicing Rules and Credit Reporting
The industry awaits the highly anticipated proposed amendments from the Bureau to ‘simplify and streamline’ the loss mitigation provisions of the Mortgage Servicing rules. As forecasted, the Bureau endeavors to modernize Regulation X to recognize evolving loss mitigation waterfalls, preserve the use of ‘streamline’ loss mitigation solutions implemented during the pandemic, and maintain CARES Act like credit reporting standards. This panel discusses the risks, challenges, and benefits of modernization to the marketplace. Sponsored by Cooley.
Speakers
Moderator
Speakers
Krista Cooley is a partner in Mayer Brown’s Washington DC office and a member of the Consumer Financial Services group. She concentrates her practice on federal regulatory enforcement and compliance issues. She represents companies in the mortgage lending, mortgage servicing, title insurance and real estate industries in connection with administrative and regulatory compliance matters. Krista defends clients subject to government audits, investigations and enforcement proceedings before, among others, HUD, the VA, USDA, DOJ, CFPB and state banking departments in cases involving the False Claims Act, the Program Fraud Civil Remedies Act, Mortgagee Review Board proceedings and RESPA enforcement matters.
Jonathan Kolodziej is a partner at Bradley in the firm’s Banking and Financial Services practice group and is a co-leader of the firm’s CFPB team. He represents mortgage servicers in regulatory compliance, examination and enforcement matters and centers his practice around helping clients ensure that their operations are in compliance with applicable federal and state consumer financial laws, and then demonstrating compliance to regulators. In this role, Jonathan frequently helps clients assess the impact of new rules and regulations and adapt to changes in the regulatory environment. Jonathan is also an adjunct professor at the University of Alabama School of Law, where he teaches an upper level course on the laws and regulations that apply throughout the lifecycle of a mortgage loan.
Mark McArdle heads up regulatory affairs and public policy for Newrez. In this role he works with regulators, trade groups, consumer groups and other stakeholders on mortgage policy. Mark McArdle was the Assistant Director of Mortgage Markets at the CFPB from 2017 to 2025, where he led a team that worked closely with industry and other stakeholders to help inform the Bureau and the public on current and future trends in the mortgage origination and servicing markets. At the Bureau, he led efforts to modernize HMDA reporting, update the Ability to Repay/Qualified Mortgage rules and spearheaded the Bureau’s mortgage response to COVID-19. Before CFPB, McArdle was the Deputy Assistant Secretary for Financial Stability and other roles at Treasury, where he led TARP housing efforts.
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