POLICY & COMPLIANCE TRACK: Modernizing the Loss Mitigation Rules of Regulation X

Samuel I. Racoosin

Managing Director and Associate General Counsel, Chase

Samuel Racoosin is a Managing Director and Associate General Counsel at JP Morgan Chase Bank, NA. He is the lead attorney for the residential Loan Servicing performing, customer assistance and default legal teams. He is principally responsible for providing legal advice to the residential mortgage loan servicing business. Before joining JP Morgan Chase, Racoosin was Associate General Counsel at Fannie Mae. In that capacity, he was responsible for providing legal advice to the US Treasury in connection with the Obama Administration’s Making Home Affordable Program. Samuel previously served as Associate General Counsel for Fannie Mae’s single family mortgage business, providing advice on new products, eMortgage initiatives, and loss mitigation. Prior to joining Fannie Mae, Samuel was Associate General Counsel of North American Mortgage Company, a national mortgage banker. Racoosin has a Juris Doctorate from The George Washington University Law School and a Bachelor of Arts from Washington University in St. Louis.

Jonathan Kolodziej, AMP, CMCP

Partner, Bradley

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, Esq.

SVP, Chief Compliance Officer and Corporate Counsel, Carrington Mortgage Services, LLC

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.

Steve Sharpe

Senior Attorney, National Consumer Law Center

Steve Sharpe is a senior attorney at the National Consumer Law Center focusing on foreclosures and mortgage lending. He represented homeowners at the Legal Aid Society of Southwest Ohio, LLC. and started his career in 2005 at Indiana Legal Services with a Skadden fellowship focused on representing borrowers with predatory loans. Steve is a contributing author of National Consumer Law Center’s Mortgage Servicing and Loan Modifications, Home Foreclosures, and Truth in Lending legal treatises. He is a cohort member of the Shriver Center’s Racial Justice Institute and a former Consumer Fellow with the American Bar Associates Consumer Financial Services Committee. He received his B.A. from the University of Michigan and his J.D. from the Indiana University School of Law in Bloomington.

Elizabeth Spring

Senior Servicing Program Manager, Consumer Financial Protection Bureau (CFPB)

Beth has more than 12 years of experience in housing policy, specializing in mortgage servicing, credit risk and credit policy. Currently, Beth serves as Sr. Servicing Program Manager in the office of Mortgage Markets at the CFPB. She works to develop policies and strategies that address market needs for consumer financial products and services. Beth’s prior work includes federal regulation and oversight at the Federal Housing Finance Agency, ensuring the regulated entities fulfill their mission by operating in a safe and sound manner to serve as a reliable source of liquidity and funding for the housing finance market throughout the economic cycle. Prior to FHFA, Beth worked at the US Department of Treasury in the Office of Financial Stability on the Making Home Affordable Program (MHA) and served as a key advisor in the development and implementation of the federally funded, national loss mitigation and foreclosure prevention programs.