- Counseling clients on compliance with state and federal laws affecting lending and servicing activities, including the Real Estate Settlement Procedures Act (RESPA), Truth in Lending Act (TILA), Equal Credit Opportunity Act (ECOA), Fair Credit Reporting Act (FCRA), and Fair Debt Collection Practices Act (FDCPA).
- Conducting enterprise-wide Consumer Financial Protection Bureau (CFPB) readiness reviews of a company’s business lines, operations, and products to assess the level of potential risks to consumers and evaluate a company’s compliance management program.
- Defending administrative enforcement actions (including state government audits, single- or multistate examinations, and investigations) and assisting in litigation involving regulatory compliance issues.
- Advising on compliance with federal and state valuation laws, including appraisal independence requirements under TILA, Interagency Appraisal and Evaluation Guidelines, Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA), Fannie Mae and Freddie Mac Appraisal Independence Requirements, ECOA and state appraisal management company (AMC) laws, appraiser laws, and real estate broker laws.
- Acted as regulatory counsel to the FAIR Coalition and defended clients in government investigations and enforcement proceedings concerning valuation issues.
- Working with state regulators to obtain approvals, licenses, or regulatory guidance.
- Counseling a state-chartered bank on state licensing and filing requirements to make and service residential mortgage loans and assisting in obtaining necessary business registrations and permissions to establish loan production offices.
- Counseling clients on compliance with regulations and guidelines governing the servicing industry, with a focus on the implementation of the CFPB’s finalized servicing standards.
- Counseling clients on fair-lending compliance and conducting annual fair-lending reviews.
- Assisting loan-servicer clients in developing loss-mitigation programs and related compliance policies and procedures for loan-servicing operations.
- Reporting on state and federal foreclosures and loss-mitigation requirements.
- Advising financial institutions on the pre- and post-Dodd–Frank Act rules of federal preemption of state consumer finance laws and surveying applicable state-law requirements.
- Analyzing and providing regulatory counseling, memoranda, opinions and surveys, and fee charts on applicable laws across 50 states impacting the origination, servicing, and sale of mortgage loans and consumer loan products.
- Advising secondary mortgage market participants on legal liability arising from federal and state anti-predatory and other abusive lending laws and defending state examination and enforcement actions.
Partner,
Co-chair of Financial Services & Products Group
- Phone: 202.239.3189
- Email: nanci.weissgold@alston.com
Nanci, an American College of Consumer Financial Services Lawyers Fellow, maintains a national regulatory compliance practice representing consumer financial products and services providers on federal, state and agency requirements, including valuation and mortgage lending and servicing. Her pragmatism preparing for, and responding to, CFPB, FHA, state and other administrative actions is valued.