Mortgage Banking

Mortgage lenders face a broad spectrum of issues unique to the industry, and you need counsel that understands the challenges the industry faces. Goodwin has one of the preeminent Consumer Financial Services Practices in the nation,  providing a comprehensive range of transactional, regulatory compliance and litigation services to the mortgage lending, servicing and settlement service industries. Our lawyers focus on helping these industries maximize their business potential through assistance with transactions, navigation of the regulatory landscape, including risk management.

We represent a number clients in the mortgage industry, including some of the nation’s largest financial institutions, prominent regional consumer financial services companies, and emerging FinTech financial innovators.  Areas of particular expertise include both negotiating business combinations and arrangements, and providing leading expertise for a host of consumer compliance and regulatory matters affecting the mortgage industry. In addition, we offer an industry-leading consumer class action litigation and enforcement practice with extensive experience defending mortgage lenders and servicers.

Transactional

We provide legal services in connection with a wide variety of transactions, ranging from simple purchases and sales of mortgage loans or servicing rights to complex purchases and sales of entire companies.

• Drafting and negotiating a wide range of transaction agreements, including:

• Mortgage loan broker, loan and servicing rights purchase and sale agreements 
• Servicing and subservicing agreements, including special servicing agreements for delinquent loans and REO properties 
• Data processing, technology and software licensing agreements 
• Private label origination services and servicing outsourcing agreements 
• Joint venture, marketing, co-branding and affinity agreements 
• Merger and acquisition agreements for mortgage banking-related companies in both asset and stock transactions

• Drafting and reviewing mortgage loan documents, riders and disclosures
• Due diligence reviews
• Mortgage loan repurchase negotiation, defense and prosecution
• Forming state and federally-chartered depository institutions, and non-depository lenders and servicers

Regulatory Compliance

Our regulatory compliance work covers the full range of legal advice in mortgage regulatory, compliance and operational matters:

• Strategic regulatory advice, federal and state law surveys, and legal opinions on issues affecting the origination, servicing, acquisition, and sale of mortgage loans
• Counseling regarding regulatory supervision, including preparation for and oversight of regulatory examinations and responses to regulatory inquiries, and industry comment letters on proposed regulations
• Developing compliance programs and policies and procedures, and conducting compliance and operational reviews, including in regard to foreclosure practices and the new TRID rules
• Dealing with the full range of HUD/FHA, VA, Fannie Mae, Freddie Mac and Ginnie Mae issues, from obtaining approvals to addressing repurchase demands
• Assisting mortgage lending clients in enforcement matters in front of federal and state agencies, including the Consumer Financial Protection Bureau
• Fair lending assessments and providing related fair lending and HMDA compliance advice

Litigation & Enforcement

Our leading consumer financial services litigation lawyers have extensive experience in regulatory counseling and examinations, government investigations, enforcement proceedings, and litigation, including:

• Claims under Federal and state consumer credit laws, including TILA, FCRA, RESPA, FHA, ECOA and FDCPA
• High-stakes class actions and MDLs
• Fair lending claims and investigations
• Challenges to loan servicing practices
• State UDAP and consumer protection act claims
• Federal preemption
• FIRREA claims
• False Claims Act claims

Government investigations and enforcement actions are an unfortunate reality for today’s consumer financial services companies. We have substantial experience in responding to government investigations, defending enforcement actions, and managing administrative, criminal, and private proceedings. Our enforcement matters have involved, among others:

• Consumer Financial Protection Bureau (CFPB)
• Department of Justice
• State attorneys general
• Federal Trade Commission
• Department of Housing and Urban Development
• State banking regulators

Thought Leadership

Goodwin is highly regarded as a thought leader for the financial services industry, and regularly shares industry developments though various publications such LenderLaw Watch Blog, Consumer Finance Enforcement Watch Blog, and the Financial Services Weekly News Roundup.