TRENDING COMPLIANCE ISSUES TRACK: Servicing Compliance Part 1 Loss Mitigation Updates (Closed to Media)
The federal housing agencies have introduced several novel and complex loss mitigation policies heavily affecting servicers’ operations. Such policies include FHA’s Payment Supplement, VA’s VASP program, and upgrades to the GSEs Flex Modification. Join this panel as experts explore the issues affecting servicers’ ability to meet and maintain ongoing compliance as deadlines loom. Sponsored by Paul Hastings.
Speakers
Moderator
![Photo of Jim Petros](https://apps.mba.org/headers/rsz_petros_jim_240_1.24.jpg)
Jim Petros is the Senior Vice President, Chief Compliance Officer and Corporate Counsel for Carrington Mortgage Services, LLC, with more than 20 years of experience in the mortgage sector. In his current position, he oversees the company’s Compliance Management System for both the Lending and Servicing Divisions. Jim serves on the Executive Committee of the Board for South County Outreach, a nonprofit organization that provides case management designed to prevent financial setbacks and homelessness.
Speakers
![Photo is unavailable](/ResourcePackages/MBA/assets/images/speaker-avatar.png)
![Photo of Krista Cooley](https://apps.mba.org/img/Cooley_Krista_240_240.jpg)
Krista Cooley is a partner in Mayer Brown’s Washington DC office and a member of the Consumer Financial Services group. She concentrates her practice on federal regulatory enforcement and compliance issues. She represents companies in the mortgage lending, mortgage servicing, title insurance and real estate industries in connection with administrative and regulatory compliance matters. Krista defends clients subject to government audits, investigations and enforcement proceedings before, among others, HUD, the VA, USDA, DOJ, CFPB and state banking departments in cases involving the False Claims Act, the Program Fraud Civil Remedies Act, Mortgagee Review Board proceedings and RESPA enforcement matters.
![Photo of Reid F. Herlihy, Esq.](https://apps.mba.org/img/Herlihy_Reid_240_240.jpeg)
Reid F. Herlihy provides regulatory and transactional advice for clients on a range of issues involving state and federal consumer finance laws. Reid counsels mortgage companies, servicers, consumer finance companies, financial institutions, investment banks, debt collectors, and secondary-market investors on state and federal regulatory compliance issues. Reid regularly counsels clients on issues regarding the CFPB's Mortgage Servicing Rules, advertising, fair debt collection, lending and servicing disclosures, loss mitigation, foreclosure procedures, and business practices. He also assists clients with state and federal examination issues and regulatory actions. Reid assists clients with meeting state and federal licensing and approval requirements, including those related to stock and a
![Photo of Melissa J. Klimkiewicz](https://apps.mba.org/img/Klimkiewicz_Melissa_240_240.jpg)
Melissa Klimkiewicz is dedicated to providing pragmatic, comprehensive and timely guidance to her consumer financial services industry clients, which primarily include mortgage lenders and servicers. She frequently assists Federal Housing Administration (FHA) mortgagees with their program approval efforts, annual recertifications, compliance with and understanding of program rules and self-reporting obligations, audits by the Quality Assurance Division (QAD), inquiries from the Office of Inspector General (OIG) and enforcement actions by the Mortgagee Review Board (MRB). Melissa performs similar work related to the Ginnie Mae, U.S. Department of Housing and Urban Development (HUD) Section 184, U.S. Department of Veterans Affairs (VA Department) and U.S. Department of Agriculture Rural Housing Service loan programs. Her work also includes assisting clients with False Claims Act (FCA)-based risk assessments arising from participation in government lending programs. She represents both mortgage and reverse mortgage/Home Equity Conversion Mortgage (HECM) lenders and servicers.