Compliance, Licensing and Regulatory
Wright, Finlay & Zak (“WFZ”) provides its mortgage servicing and origination clients with all aspects of regulatory compliance. WFZ’s attorneys have assisted clients on compliance with the Consumer Financial Protection Bureau (CFPB) Rules, National Mortgage Settlement and various Federal Statutes, including FDCPA, TILA, RESPA, TCPA, FCRA, HMDA, SAFE Act, ECOA, the FHAct, UDAAP, the Loan Originator Compensation Rule, and privacy laws. In addition, we designed compliance programs for California and Nevada’s Homeowner Bill of Rights (HOBR) and continue to assist our clients to ensure their ongoing compliance with HOBR. Whether our clients need advice on individual issues, a full compliance action plan or a review of an existing compliance program, WFZ is there to help.
The attorneys in WFZ’s Compliance, Licensing and Regulatory Division have also assisted clients with financial services licensing and with regulatory examination management. The compliance attorneys have significant experience working with the Nationwide Multistate Licensing System & Registry (“NMLS”). Our experience enables us to assist our clients with all aspects of licensing, including new company licensing, reorganizations, restructurings, renewal activity, and any daily NMLS compliance challenges. We are also well versed with the NMLS Mortgage Call Report and other reporting requirements. Additionally, our attorneys have assisted clients with the management of regulatory examinations and the associated challenges.
WFZ’s Compliance, Licensing and Regulatory Division is unique in that we are actively involved in the state lobbying process before many proposed Bills even pass the Legislature. Through participation in the California Mortgage Bankers Association’s (CMBA) Legislative Committee, as the former President of the United Trustees Association (UTA) and its current Chair of the Legislative Committee, Partner Robert Finlay has direct access to lobbyists in California, Nevada, Washington and Oregon. Compliance Partner Michelle Mierzwa has been a member of the UTA and CMBA Legislative Committees since 2009 and 2010, respectively, and personally meets with Legislators at the capitols in California, Nevada and Washington. The firm is also an active member of the national Mortgage Bankers Association and the American Legal & Financial Network. Through these lobbyists, industry organizations and direct lobbying efforts, WFZ is able to track pending laws, oppose unwanted laws and revise bills that are likely to pass. WFZ’s involvement with proposed laws at the drafting stage help our clients track potential new legislation and get a head start on implementing new procedures to ensure compliance when the new laws go into effect.
If you have any questions regarding our Compliance, Licensing and Regulatory Division or if you would like to be added to our Legislative Tracking distribution list, please contact Michelle Mierzwa, Partner – Compliance, Licensing and Regulatory Division.