Among the many regulations released recently by the Consumer Financial Protection Bureau are the new rules for mortgage servicing. These rules require training and implementation of new policies and procedures in the loan servicing industry. RESPA News is hosting a 90-minute educational webinar on the components of the final rules and how to comply with their various parts. Two top RESPA trainers will cover:
- Resolving alleged errors;
- Responding to requests for information and any changes to RESPA's qualified written request requirements;
- Force-placed insurance requirements;
- RESPA Section 6 and escrow accounts;
- Information management policies and procedures;
- Early intervention for delinquent borrowers;
- Continuity of contract; and
- Loss mitigation procedures.
Attorneys will provide in-depth training on the final rules and participants will have an opportunity to ask their questions through our live webinar instant chat feature. Participants will also receive relevant handouts, including articles featured in RESPA News and Dodd Frank Update.
Partner, Ballard Spahr LLP
John Socknat is a partner in Ballard Spahr's Business and Finance Department, practice leader of the Mortgage Banking Group and a member of the Consumer Financial Services and Privacy and Data Security Groups. John uses his knowledge and breadth of the business issues affecting the residential and commercial mortgage banking industries and the legal landscape to advise clients on compliance and licensing matters under state and federal law.
John's clients include mortgage and consumer finance companies, financial institutions, servicers, collection agencies, title companies, real estate brokers and secondary-market investors. He focuses his practice in matters concerning regulations such as the Real Estate Settlement Procedures Act, the Truth in Lending Act, the Fair Credit Reporting Act, the Equal Credit Opportunity Act, financial privacy in Title V of the Gramm-Leach-Bliley Act, the Fair Debt Collection Practices Act, state consumer credit and debt collection, and telemarketing-related issues, among others. He also counsels clients on e-commerce issues, including electronic signatures, electronic storage of records and electronic delivery of credit-related disclosures.
John is a member of the Advisory Council to the American Association of Residential Mortgage Regulators, and the American, District of Columbia and Virginia Bar Associations. He is an editor of Mortgage Finance Regulation Answer Book 2011-2012, published by the Practising Law Institute, and author of its "State Law/Preemption" chapter. He is a frequent speaker at industry events and is a graduate of James Madison University and The Catholic University of America Columbus School of Law.
Partner, BuckleySandler LLP
Joe Reilly, a partner in BuckleySandler's Washington, D.C., office, represents corporate and individual clients in federal and state enforcement actions and investigations, as well as in private civil and class action lawsuits. He has argued matters successfully in both the New York and Washington, D.C. federal courts. He also has an active consumer financial services regulatory practice, advising financial institutions, nonbank lenders, mortgage insurers, and others on federal and state consumer financial services matters, including preparation for examinations by the Consumer Financial Protection Bureau.
Joe has defended institutions and individuals in enforcement proceedings brought by the SEC, the DOJ, the federal banking agencies, HUD, and the European Commission. In private civil matters, he has asserted or defended claims in diverse areas of law, including bank director and officer fiduciary duties, securities, antitrust, civil RICO and breach of contract.
Joe's regulatory compliance practice focuses on residential mortgage finance and includes frequent counseling on Dodd-Frank and CFPB matters, fair and responsible lending and servicing, Truth in Lending, RESPA, fair credit reporting, licensing, federal and state disclosure, default and loss mitigation, contract terms, fee authorization issues, and federal preemption of state law.
Joe is a member of the American Bar Association's Committee on Banking Law and Committee on Consumer Financial Services. Prior to joining BuckleySandler in 2010, Joe was a Special Counsel in the Litigation Group at Sullivan & Cromwell LLP. Prior to law school, he served on Capitol Hill for over four years in several House and Senate Committee staff positions. Joe received his J.D. from the University of Virginia Law School in 1999 and his A.B. from Stanford University in 1991.
Editor, RESPA News
Angela Rulffes is editor of RESPA News and RESPA News Monthly at October Research, LLC. She reports on the latest RESPA developments through RESPANews.com, an online publication dedicated to covering all the issues and news related to the Real Estate Settlement Procedures Act. She also reports on news related to the Truth in Lending Act and the new Consumer Financial Protection Bureau, which has been tasked with enforcing the RESPA statute.
Prior to joining October Research, LLC, Angela worked as a civil rights attorney. She has a bachelor's degree in English, a master's degree in broadcast journalism and a Juris Doctorate. She is a member of the bar in Ohio and New York.