Weiner Brodsky Sidman Kider PC is nationally recognized for the depth and breadth of its knowledge and understanding of the legal and business issues affecting the residential and commercial mortgage banking industries. Our clients benefit from the more than three decades of experience and diverse backgrounds of our attorneys and staff, which include former senior officials with the U.S. Department of Housing and Urban Development as well as former in-house counsel for industry members.
Our expertise in various areas is widely sought-after as evidenced by, among others, our role as RESPA counsel to the Mortgage Bankers Association of America and General Counsel to the National Reverse Mortgage Lenders Association.
In addition to representing settlement service providers (lenders, brokers, servicers, real estate brokers and title companies), we also represent companies that provide support to them, such as collection agencies, lead generators, telemarketers, document preparation companies and technology firms. The majority of the nation’s largest homebuilders, and their affiliated settlement service providers, rely upon our unmatched experience to help them navigate the complex state and federal rules governing their operations.
We are at the forefront of efforts to design and implement new and innovative mortgage products, both domestically and abroad.
We provide the full range of legal services to our clients and assist in areas that include:
Compliance Audits and Due Diligence
We routinely undertake reviews of the operations, practices and policies and procedures of our clients, and assist with the design and implementation of appropriate corrective action. We undertake similar reviews on behalf of potential investors, as well as reviewing pools and portfolios for compliance with applicable law.
Corporate & Transactional
We regularly structure, negotiate and implement a wide range of sophisticated business transactions, including mergers and acquisitions, the purchase and sale of mortgage loans, servicing rights and other assets, the formation of joint ventures and strategic alliances, and the creation of warehousing and other credit facilities.
FHA/VA/GNMA
We work closely with our clients to structure and document compliant FHA-insured and VA-guaranteed loan origination, selling, pooling investment, servicing and sub-servicing arrangements. We also defend clients in various enforcement proceedings, including audits, Inspector General investigations, and Mortgagee Review Board actions seeking indemnification, civil money penalties, debarment and termination of approvals.
Fair Lending
We regularly assist clients in successfully resolving allegations of violations of fair lending laws brought by HUD and state fair housing agencies. We have assisted numerous clients develop and implement appropriate fair lending policies and procedures, and work closely with clients in analyzing HMDA data to identify potential fair lending issues.
Federal Regulatory Compliance
Our compliance group advises lenders, brokers, servicers and other settlement service providers regarding the federal laws that regulate the industry including, TILA, RESPA, FHA, FCRA, ECOA, E-Sign, HOEPA, HMDA, FDCPA, Gramm-Leach-Bliley, CANSPAM, TCPA, Do Not Call, and the PATRIOT Act. We also provide advice concerning HUD, VA, GNMA, Fannie Mae, and Freddie Mac requirements.
Government Audit, Investigations & Proceedings
We regularly assist clients with issues ranging from responding to state and federal audits and exams, cease and desist orders and license revocation actions to investigations and proceedings initiated by HUD, OTS, OCC, Federal Reserve, FTC, the Department of Justice and various state attorneys generals.
Labor & Employment
We have assisted clients with a broad range of labor and employment issues, including structuring compensation policies for loan officers, processors and other non-management personnel that are compliant with the Fair Labor Standards Act and state wage and hour laws, drafting employment agreements and defending class action wage and hour cases.
Litigation
We represent industry members across the nation in litigation that ranges from national class actions to single plaintiff cases. We have successfully defended claims brought under, among others, RESPA, TILA, the Fair Housing Act, TCPA, FCRA, FCTA, ECOA, FDCPA & HOEPA, as well as under state consumer protection acts.
Privacy & Data Security
We provide guidance to our clients regarding state and federal laws that govern the collection, storage and sharing of consumer information, including the Gramm-Leach-Bliley Act and FCRA. We work closely with clients to review, develop and implement appropriate policies and procedures. We also assist clients coordinate responses to security breaches, including required notices to consumers.
Product Review, Development & Implementation
We routinely review and modify existing loan products and programs to ensure compliance with applicable state and federal law. We have assisted numerous clients design, draft and implement innovative loan programs, including a Shari'ah compliant loan product and several proprietary reverse mortgage products.
Reverse Mortgages
In addition to advising clients regarding FHA HECM requirements and developments, we have assisted numerous clients design, develop and implement proprietary reverse mortgage products. We provide counsel to our clients regarding state disclosure, fee and licensing requirements that are unique to reverse mortgage products.
State Regulatory Compliance
We provide the full range of services to lenders, brokers, servicers and other settlement service providers, including counseling clients regarding, and preparing multi-state surveys summarizing, licensing obligations, permissible fees and charges, usury limits, disclosure obligations, advertising restrictions, record retention requirements, anti-predatory lending laws, and telemarketing and other direct marketing restrictions.
State, Federal & GSE Licensing/Approvals
We work closely with clients to identify and obtain appropriate state and federal agency and GSE licenses and approvals. We also assist with branch, loan officer, trade name and renewal/recertification requirements. We have considerable experience with identifying and obtaining required regulatory consents and approvals related to stock and asset transactions.