Mortgage Lending Practices Under Fire

Responding to Heightened Federal Enforcement and Mitigating Litigation Risks

Recording of a 90-minute CLE webinar with Q&A


Conducted on Wednesday, December 2, 2009

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE seminar will discuss the compliance, enforcement and litigation risks resulting from the changing regulatory regime in mortgage lending. The panelists will provide strategies to mitigate litigation risks at each juncture during the life of a mortgage loan, from origination through secondary market transactions.

Description

Lawsuits against lenders and servicers over loan modifications, appraisals and foreclosures have skyrocketed following a flood of new state and federal laws regulating mortgage lending, along with constantly evolving government interpretations of lender and servicer responsibilities to borrowers.

New and proposed regulatory changes impact appraisal, fee disclosure and servicing practices and the types of mortgage products available to prospective homebuyers.

Counsel for mortgage lenders and servicers should study the increasing case filings to understand litigation and regulatory trends, identify risks and vulnerabilities for their clients, and establish strategies to mitigate against potential litigation exposure.

Listen as our authoritative panel discusses the compliance, enforcement and litigation risks resulting from the new and changing regulations for mortgage lending. The panelists will examine a mortgage loan from origination, to servicing, to the secondary market and provide strategies to mitigate litigation risks at each juncture during the life of the loan.

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Outline

  1. Current legal trends impacting mortgage lending practices
    1. Regulatory and enforcement activity
      1. Regulation of appraisals
      2. HUD’s new RESPA regulatory amendments and fee disclosures
      3. Financial regulatory proposals impacting mortgage products
      4. FTC’s new mortgage rules for loan modification and mortgage servicing
    2. Increased mortgage litigation
      1. Appraisal lawsuits
      2. Foreclosure lawsuits
      3. Mortgage-backed securities lawsuits
  2. Strategies to proactively mitigate legal risk during life of mortgage loan
    1. Loan origination best practices
    2. Loan servicing best practices
    3. Best practices in secondary market transactions

Benefits

The panel will review these and other key questions:

  • What are the current litigation and enforcement trends affecting the mortgage lending industry?
  • What common mistakes do lenders and servicers make in mortgage origination and servicing that can lead to lawsuits and government investigations?
  • What best practices should lenders and servicers employ to minimize litigation exposure arising from loan modifications, appraisals and foreclosures?

Faculty

Patrick F. McManemin
Patrick F. McManemin

Partner
Patton Boggs

With more than 30 years’ experience, his practice has included major jury trials and commercial arbitrations, as...  |  Read More

Gerald B. Alt
Gerald B. Alt

President and CEO
HEART Financial Services

He founded HEART, a full service loss mitigation outsourcing company, in April 2007. HEART has worked on nearly 1...  |  Read More

Amy Levenson
Amy Levenson
Managing Director and Chairman of Commercial Real Estate Loans and Properties
NewOak Capital

She has a combined 25 years of experience as an institutional bond trader and, separately, as an institutional fixed...  |  Read More

Michael S. Waldron
Michael S. Waldron

Partner, Moderator
Patton Boggs

He helps clients navigate transactional, regulatory and litigation matters facing the financial services and mortgage...  |  Read More

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