EMERGING ISSUES TRACK: Fraud Frontlines – Legal Risk, Enforcement Trends, and Defensible Controls
Mortgage fraud is becoming more sophisticated, increasing legal, regulatory, and reputational risk for lenders and servicers. This session explores emerging fraud trends, enforcement priorities, and the legal implications most relevant to in-house counsel and their outside advisors. Panelists discuss identifying red flags, managing investigations, preserving privilege, and strengthening controls to mitigate liability and prepare for regulatory scrutiny.
Speakers
Moderator
Creighton Oswald, CMB, is a Managing Director at FTI Consulting and a financial services professional with 30 years of experience spanning mortgage and consumer lending, capital markets, risk, and regulatory compliance. He partners with boards, C-suite executives, and senior business leaders to support strategic growth and transformation initiatives, address complex operational and risk management challenges, and drive efficiency and profitability. Prior to joining FTI Consulting, he held senior roles at Merrill Lynch, Daimler-Benz, JPMorgan Chase, BBVA Compass (now PNC), and Texas Capital Bank. Most recently, he served as Chief Lending Officer for consumer portfolios at First United Bank, where he led origination growth strategies, expanded the capital markets investor base, and oversaw risk management for the firm’s mortgage servicing assets. Over his career, he has helped launch multiple de novo corporate lending and servicing platforms within U.S. federally regulated financial institutions and has led major business transition and restructuring initiatives both domestically and internationally. He also built and oversaw a $25 billion distressed asset lending and servicing operation in Mexico. Additionally, he has coordinated commercial and residential due diligence, acquisition, and audit activities for U.S. institutional investors and in-country counterparties, supporting strategic transactions and mitigating financial risk across Latin America.
Speakers
Lawrence Cameron is an experienced trial attorney at Troutman Pepper Locke who represents corporate and individual clients in a range of government enforcement actions, internal investigations, and litigation. He has advised clients across major industry sectors, including health care, energy, financial services, and professional services, facing inquiries by the DOJ, SEC, and various state regulators. Cameron is a sought-after trial attorney with significant experience trying cases to verdict in federal and state courts. His experience serving in leadership roles in both federal law enforcement and private practice is a benefit to clients seeking practical advice and efficient resolutions. Cameron most recently served as acting U.S. attorney and first assistant U.S. attorney for the Western District of North Carolina, where he led an office of approximately 100 federal prosecutors and staff, overseeing nearly all federal criminal and civil cases filed in the district. In these leadership roles, Cameron oversaw a broad range of criminal and civil investigations and prosecutions involving securities fraud, financial reporting fraud, bribery, violations of the Bank Secrecy Act and Anti-Money Laundering laws, and False Claims Act matters. He also managed an active criminal and civil caseload, including matters involving public corruption, fraud, and violations of the False Claims Act related to health care and government contracting.
LeAllen Frost is the Executive Vice President and Deputy General Counsel - Head of Litigation at Pennymac, where he is primarily responsible for overseeing the company's litigation docket. He has managed residential mortgage litigation for over 20 years, including at GMAC Mortgage, Saxon Mortgage, and Mr. Cooper. He also served as General Counsel for RoundPoint Mortgage Servicing and Head of Legal Operations at Mr. Cooper. LeAllen has extensive experience managing consumer finance class actions and regulatory investigations, as well as leading the legal response to data breaches. He is also a regular speaker at industry conferences on consumer finance litigation and regulatory trends.
Vaishali Rao is a partner at Hinshaw & Culbertson LLP, focusing her practice in two primary areas: first, defending companies in regulatory investigations and litigation brought by governmental bodies; second, compliance counseling related to statutes intended to protect consumers. She has advised a range of financial institutions—small and large banks, online lenders, and fintech businesses—on these issues and also maintains strong relationships with Illinois banking regulators.
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