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PIB Law provides corporate and regulatory mortgage lending advice to state and federally chartered banks, thrifts and other financial institutions, as well as state-licensed mortgage bankers and brokers. 

As former in-house corporate and compliance counsel to one of the nation's largest privately owned financial institutions, PIB Law's mortgage banking team knows firsthand the complicated business and legal issues that face its clients on a daily basis. 

This kind of in-depth, real world experience is invaluable when it comes to understanding our clients' procedures, risks and regulatory concerns.

Regulatory Compliance

Federal and state regulatory compliance is an integral part of our practice.  With respect to federal compliance issues, PIB Law has experience with HUD and the Federal Reserve Board, and is fully conversant in the Real Estate Settlement Procedures Act (“RESPA”), Truth in Lending Act (“TILA”), Home Ownership and Equity Protection Act (“HOEPA”), Fair Housing Act, Equal Credit Opportunity Act, Fair Credit Reporting Act (“FCRA”) and Home Mortgage Disclosure Act. Our state law practice includes researching and analyzing mortgage banking, real property, consumer protection and consumer finance laws in all 50 states and the District of Columbia.

We provide a full range of regulatory compliance services, including:

  • Offering strategic advice to bank and non-bank mortgage originators.
  • Conducting bank and non-bank compliance program reviews.
  • Providing regulatory counseling and legal opinions on issues affecting the origination, servicing, acquisition, and sale of first lien and subordinate lien mortgage loans.
  • Analyzing state laws to determine the extent and conditions under which liability attaches to an assignee of loans in the secondary market.

We routinely counsel clients on compliance with applicable federal and state laws, prepare industry comment letters on proposed regulations and design and evaluate quality control systems.

Enforcement and Litigation

In enforcement matters, PIB Law offers both general and case-by-case counseling services to assist clients in avoiding and defending administrative and other governmental proceedings. We provide general advice and counseling, and perform due diligence and quality control reviews. We also represent consumer finance originators and lenders in connection with government audits, state examinations, and consumer matters forwarded for response by state regulators and state attorneys general.

We defend clients in a wide range of enforcement proceedings, including:

  • FHA/VA/GNMA audits, examinations, administrative proceedings and Inspector General investigations, including claims for indemnification, civil money penalties, and withdrawals of governmental approval (e.g., suspensions, debarments, and probations).
  • Investigations, administrative proceedings, and lawsuits initiated by state banking authorities and attorneys general involving alleged violations of HOEPA, RESPA, federal and state fair lending laws, and other federal and state consumer credit laws.
  • HUD investigations and proceedings involving alleged Fair Housing Act and RESPA violations.
  • DOJ investigations involving alleged fair lending and False Claims Act violations.
  • FTC investigations involving alleged violations of federal fair lending laws, the Federal Trade Commission Act, HOEPA, and other federal consumer credit laws.
  • Federal and state banking agency proceedings involving TILA reimbursement orders and alleged fair lending violations.
  • Investor repurchase demands and seller/servicer revocation proceedings.

In litigation matters, we defend mortgage lenders and other financial institutions in matters involving, among other subjects, fair lending laws, TILA, HOEPA, RESPA, escrow administration, lender placed insurance, private mortgage insurance, “junk” fees, breach of contract matters, state consumer protection law and mortgage broker issues.

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