United States v. Bank of America, et. al. - Represented Ally Financial, Inc., Residential Capital, LLC and GMAC Mortgage in the largest national joint state/federal government settlement in history. The case revolved around client’s mortgage servicing practices and involved 49 state attorney generals, 48 state banking departments, the Department of Justice, the Department of Treasury, the Department of Housing and Urban Development, the Consumer Financial Protect Bureau, and the Federal Trade Commission.
United States v. SunTrust Mortgage, Inc. - Represented national bank in a large-scale settlement of liability related to mortgage servicing and origination of loans leading up to and during the financial crisis, including releases of False Claims Act and FIRREA liability.
United States v. HSBC North America Holdings, Inc. et. al. - Represented national bank and mortgage servicing company in large-scale settlement of liability related to servicing and origination of loans leading up to and during the financial crisis, including releases of False Claims Act and FIRREA liability.
Consumer Financial Protection Bureau, et. al. v. Ocwen Financial Corporation and Ocwen Loan Servicing, LLC. - Represented one of the nation’s largest mortgage servicing companies in significant settlement related to its mortgage servicing practices.
Represented client in investigation by the Minnesota Department of Commerce. The department ultimately dropped the investigation after client responded to discovery requests and communicated with the department.
In re Ditech Financial - Represented mortgage servicing and banking client and its affiliated companies in an investigation and eventual settlement of claims that client's mortgage modification practices violated a Massachusetts foreclosure law. Responded to investigatory subpoenas from the Massachusetts attorney general and negotiated favorable settlement terms, resulting in the entry of an Assurance of Discontinuance.
Represented financial services company in investigation initiated by multiple regulators, including attorneys general and state financial regulators. Notable tasks include compiling documentation necessary to respond to civil investigative demands, providing strategic advice to client, and negotiating with regulators in order to achieve a favorable outcome.
Assisted multiple mortgage servicers during their CFPB Mortgage Servicing Examinations. Notable tasks included conducting a full risk assessment and early remediation of identified issues, compiling the documentation necessary to respond to the CFPB’s initial request for information, responding to requests for additional information, developing remediation strategy for issues identified during the course of the examination, and responding to PARR and supervisory letters.
Internal Compliance Investigations and Reviews
Conducted a comprehensive risk assessment of a debt collection agency for compliance with the CFPB Debt Collection Examination Procedures.
Assisted numerous mortgage servicing clients on structuring and implementing significant regulatory changes, including the 2013 Mortgage Servicing Final Rules in Regulations X and Z and the National Mortgage Settlement’s Servicing Standards.
Represented financial services company in internal review of its document execution practices. Identified potential weaknesses in those practices and worked with client to improve its processes and controls.
Consent Order Compliance
Advised financial services company regarding its ongoing obligations pursuant to a CFPB Consent Order and assisted company with internal review designed to verify the company’s ongoing compliance with its Consent Order obligations.
Advised multiple financial services companies regarding their ongoing compliance obligations pursuant to Consent Judgments with various regulators, including 49 attorneys general, 48 state regulators, and various federal regulators. Assisted those companies in building compliant processes, creating monitoring and testing structures to assess compliance, reporting of testing results, and ongoing interactions with a third-party monitor.