COMPLIANCE CONVERSATIONS TRACK: RESPA Section 8

Partner, Hudson Cook, LLP

Jed Mayk is a partner in the Pennsylvania office of Hudson Cook and Chair of the firm’s Mortgage Lending and Servicing Practice Group. He concentrates his practice on state and federal regulatory compliance for the mortgage and home equity lending programs of banks and licensed lenders. Jed advises clients on TILA, RESPA and the other core mortgage banking laws. He is the co-Editor in Chief of HouseLaw and a co-author of the RESPA/TIL Integrated Disclosures chapter of The Law of Truth in Lending (2015 & 2018 Supplements). Jed is also the author of the MBA’s Compliance Essentials: Home Equity Line of Credit Resource Guide.

Attorney at Law, McGlinchey Stafford

James “Jim” Milano helps financial institutions – mortgage companies, banking institutions, secondary market investors, consumer finance companies, and settlement service providers – comply with federal and state lending regulations. He guides clients in navigating digital marketing rules under the Real Estate Settlement Procedures Act (RESPA) and advises lenders and servicers in implementing and complying with the Federal Housing Administration’s Home Equity Mortgage Conversion (HECM) program. Jim also assists home equity access startups with home equity and appreciation sharing products and sales leaseback programs: designing programs, obtaining regulatory approvals, and taking them through initial and subsequent capital raises As one of the country’s leading lawyers in reverse mortgage law, Jim regularly reviews and designs proprietary reverse mortgage loan programs. He also works with lenders, servicers, and settlement service providers, including Appraisal Management Companies, to resolve federal and state regulatory investigations, including defending and settling civil disciplinary enforcement actions. In the early 2000s, Jim helped design and structure a patented Sharia-compliant declining balance co-ownership financing arrangement. Clients appreciate his dependability, commitment to their success, and determination to identify and mitigate the risks inherent to mortgage programs while ensuring compliance with an ever-evolving body of federal and state regulations.