Buchalter’s Mortgage Banking Group provides banks, credit unions, non-bank lenders and private money lenders and servicers with an unsurpassed range of mortgage legal counseling. Our team of lawyers, possess years of experience in mortgage operations and litigation. Our industry-leading expertise covers everything from regulatory requirements, secondary market transactions and FinTech to a wide range of mortgage, regulatory, title and escrow litigation.
Mortgage Counseling and Transactions
Regulatory and Licensing
We provide industry leading expertise in all areas of mortgage regulatory issues, including:
- Counseling on all federal and state legal requirements, including TILA, RESPA, ECOA, HMDA, FCRA, TCPA, SCRA, MLA, LO Comp, SAFE Act, and state laws such as the California Bill of Rights, the California Finance Law and the New York Department of Financial Services.
- State law surveys.
- Licensing for lenders, brokers and servicers under all state laws.
- Responding to complaints made to regulators by borrowers.
- Management of regulatory audits/examinations/investigations.
Originations and Servicing
Buchalter’s deep experience, including experience in management and executive operations at major lenders and servicers, enables us to provide counseling on the full range of originations and servicing operations:
- Underwriting and fulfillment.
- Loan servicing.
- Default and loss mitigation.
- Foreclosure processes.
- HELOCs.
- Down Payment Assistance programs.
- Reverse Mortgages.
Secondary Market Transactions
We have worked on numerous secondary market transactions:
- Both whole loans and mortgage servicing rights, representing both sellers and buyers.
- Correspondent loan program agreements.
GSE, FHA. VA Interactions
Our experience and contacts at these institutions enables us to assist clients to successfully address all concerns, including:
- Program requirements.
- Lender and servicer approvals and registrations.
- Claims and indemnities.
FinTech
We represent a wide range of FinTech companies and institutions that partner with FinTechs in all these areas:
- FinTech bank partnerships.
- FinTech product development.
- Licensing requirements.
- FinTech vendor and service provider contracts.
Data Privacy and Security Issues
We routinely advise clients on how to comply with numerous privacy and security regulations, including:
- Gramm-Leach-Bliley Act (GLBA).
- California Consumer Privacy Act of 2018 (CCPA).
- California Financial Information Privacy Act (CFIPA).
Mortgage Related Litigation
Lender Liability Defense
We have extensive experience in defending against lender liability claims, from class actions and multi-district litigation to individual borrower claims, including:
- Defending against wrongful foreclosure claims, torts (negligence, fraud, etc.) and claims arising from, among other things, TILA, RESPA, and state laws such as the California Homeowners Bill Of Rights, and Consumer Fraud Acts.
Enforcement of Lender Remedies
We also are experienced in enforcing lender remedies, including:
- Prosecuting claims for judicial foreclosures, breaches of contract and guaranty and utilizing all available pre-judgment remedies, including receiverships, writs of attachment and writs of possession.
Secondary Market Disputes
We have represented parties in breach of representation and warranty claims related to mortgage loan purchase transactions, including:
- Handling disputes over loan repurchase demands.
Title Insurance and Escrow
We are leading industry experts on title insurance protection and escrow claims and advise clients on numerous coverage issues, including:
- Escrow and title instructions.
- Tender of escrow and title claims.
- Scope of insurance coverage.
- Monitoring insurance retained counsel that we cause the insurer to pay for to defend the insured pursuant to a successful tender of claim.
We also routinely handle title and escrow insurance litigation, including:
- Breach of insurance contract.
- Bad faith/breach of the implied covenant of good faith and fair dealing.
- Breach of closing protection letters.
- Unfair business practices.
- Breach of escrow instructions.
- Negligence, negligent misrepresentation, breach of fiduciary duty and fraud by escrow agent fiduciaries.
Bankruptcy
We have one of the most respected and well-known insolvency practices and handle all bankruptcy matters, including:
- Enforcing and protecting secured claims in Chapter 7, 11 and 13 proceedings, including lift stay motions and defending against lien avoidance motions.
- Prosecuting and defending adversary proceedings.
- Opposing preference actions.
- Real estate bankruptcies.
- Workouts & restructuring.
- Intellectual property.
- Receivership.
Labor and Employment
We have represented clients in a myriad of labor and employment issues that frequently arise in the context of the mortgage banking industry, including:
- Defending against wage and hour class and representative Private Attorneys General Act wage and hour litigation of all types include actions involving meal and rest breaks, overtime, off the clock work, piece rate pay, wage statements requirements, waiting time penalty claims, expense reimbursements, uniforms, suitable seating, misclassification claims (both independent contractor and sales and managerial exemptions), and vacation time.
- Prosecuting former employees for misappropriation of trade secrets and confidential information.
