Stephen Ornstein

• Represented several investment banking firms as issuers or underwriters in public offerings and private placements of mortgage pass-through certificates. These securitizations have employed a wide variety of credit support and tax structures and have resulted in the issuance of a broad range of securities with simple to complex payment characteristics. 
• Represented several of the largest U.S. residential mortgage loan conduits in numerous public offerings of multiple class mortgage pass-through certificates, as well as servicers and insurers in connection with public and private securitizations.

Stephen Ornstein, co-leader of Alston & Bird’s Consumer Financial Services Team, concentrates on federal and state mortgage banking, consumer credit, and ancillary services regulatory issues. He counsels national mortgage lenders, servicers, insurers, and secondary market issuers in complying with lending regulations, including RESPA, Truth in Lending Act, Fair Credit Reporting Act, Equal Credit Opportunity Act, fair housing/fair lending, National Flood Insurance Act, student lending requirements, state regulations and licensing, and privacy.

Stephen works extensively in government regulation of mortgage finance, particularly with FHA-insured and VA-guaranteed single-family and project mortgage loans. He has substantial experience in federal and state bank regulation, including agency powers and procedures for professional liability claims. His consumer finance experience spans the range of asset classes, including residential and commercial mortgage loans, student loans, marketplace lending and fintech arrangements, and payday loans. Stephen also represents clients with matters involving the Consumer Financial Protection Bureau and participates in CFPB Ombudsman Forums, where he has the opportunity to both share and learn about process issues.

Stephen earned his J.D. from Columbia University as a Harlan Fiske Stone Scholar. He earned his A.B., magna cum laude and Phi Beta Kappa, from Brown University. 

Bar Admissions

• District of Columbia

Education

• Columbia University (J.D., 1989)
• Brown University (A.B., 1986)

Memberships