2013 has been touted as the “Year of Regulatory Implementation.” A number of key Dodd-Frank rulemakings, totaling thousands of pages, are being finalized, starting with seven final rules that are expected to be adopted by the Bureau of Consumer Financial Protection on or before January 21, 2013. These seven rules will significantly affect all aspects of residential mortgage finance, including origination, servicing, and solicitation.

On February 7, 2013 at 12:00 p.m. (EST), the Financial Services Regulatory Group (FSRG) at Reed Smith will continue its four-part teleseminar series that will dive deep into each new final regulation with a review of the new Servicing Standards Rule. Each teleseminar in this series will be 60 minutes and will provide detailed analysis of the potential impact of the new rules on mortgage financial services providers.

In issuing the new Servicing Standards Rule, the CFPB addresses force-placed insurance, periodic statements, loss mitigation services and many other issues.

The seven final rules that will be examined by members of our FSRG during the course of this important four-part series include:

• Teleseminar 1: Ability to Repay/Qualified Mortgage (QM) Rule, 24 January 2013 
  • Presentation Slides
  • Audio Recording 
• Teleseminar 2: Servicing Standards Rule, 7 February 2013
  • Presentation Slides
  • Audio Recording
• Teleseminar 3: Loan Originator Compensation Rule, 21 February 2013
  • Presentation Slides
  • Audio Recording
• Teleseminar 4: ECOA Appraisal Rule; Appraisals for High Risk Mortgage Rule, 7 March 2013 
  • Presentation Slides
  • Audio Recording 

Facilitated by FSRG members Len Bernstein, Bob Jaworski, and Travis Nelson, this series will outline the new regulations and their potential impact on day-to-day operations. Len, Bob, and Travis are recognized authorities on issues related to the mortgage industry and often speak on these and other topics in regional and national forums.

SPECIAL UPDATE: Reed Smith’s appellate specialist and leading constitutional and administrative law authority, James Martin, will summarize the D.C. Circuit’s recent ruling on President Obama’s recess appointments in Canning v. NLRB, which has called into question the constitutionality of CFPB Director Richard Cordray’s recess appointment.

For more information or to register for the series, please click here.