EMERGING ISSUES TRACK: Changes to the Servicing Rules and Loss Mitigation
Join this expert panel to discuss recent updates to Regulation X and the CFPB’s efforts to change the rule. This discussion covers how the proposed rule may affect the industry, and how alternatives may better serve the mortgage market. Sponsored by Cooley.
Speakers
Moderator
Revathi Jose is an Assistant General Counsel at JPMorganChase. Her work is focused on legal and compliance issues related to loss mitigation and default mortgage servicing. Prior to working at Chase, Revathi spent more than 10 years working at Wells Fargo Bank, where she supported multiple departments, including Wells Fargo’s Corporate Trust Services (now a part of Computershare) as well as Wells Fargo’s Home Lending Servicing Division.
Speakers
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.
Brendan Kelleher is Associate Director of Loan Administration at the Mortgage Bankers Association (MBA) where he manages MBA’s legislative and regulatory strategy for residential loan administration and worked with federal housing regulators, investors, and guarantors to improve and streamline servicing requirements. Prior to joining MBA, Brendan worked at Rocket Central as Director, Public Policy overseeing external relations and mortgage policy advocacy. Before joining Rocket Central and MBA, Brendan began his career at Rocket Mortgage as the FHA Servicing Product Manager managing the implementation of FHA servicing policy.
Jonathan Kolodziej is a partner at Bradley in the firm’s Banking and Financial Services practice group and is a co-leader of the firm’s CFPB team. He represents mortgage servicers in regulatory compliance, examination and enforcement matters and centers his practice around helping clients ensure that their operations are in compliance with applicable federal and state consumer financial laws, and then demonstrating compliance to regulators. In this role, Jonathan frequently helps clients assess the impact of new rules and regulations and adapt to changes in the regulatory environment. Jonathan is also an adjunct professor at the University of Alabama School of Law, where he teaches an upper level course on the laws and regulations that apply throughout the lifecycle of a mortgage loan.
Jim Petros is the SVP, Chief Compliance Officer and Corporate Counsel for Carrington Mortgage Services, LLC, with over 20 years of experience in the mortgage industry. In his current role, he oversees the Compliance Management System for the Lending and Servicing Divisions, ensuring adherence to legal and regulatory requirements by leveraging advanced GRC technology, as well as machine learning and AI (www.RegComplyGPT.com). A seasoned leader, Jim is a primary liaison with state and federal regulators. He also serves on the Board of Directors for South County Outreach (www.sco-oc.org), a nonprofit organization that provides case management designed to prevent financial setbacks and homelessness.
