Fifth National Avoiding Exposure to Regulatory and Civil Actions for

Predatory Lending

Wednesday, November 12, 2003

About

Do you have the practical information you need to keep your lending program in compliance with ever-evolving anti-predatory lending requirements?

Federal agency regulations, state legislative rules, municipal ordinances and now federal legislation...anti-predatory lending laws continue to proliferate. No longer just a subprime issue, the explosion of these mandates has created a Rubik's cube of lending and reporting requirements, with over 150 separate and distinct governing regimes nationwide.

While the goals of the legislation are unassailable, the methods employed by governing bodies have resulted in a complex maze of conflicting standards and competing definitions. Moreover, with local jurisdictions in the fray and no clear rule on federal or state preemption, it is sometimes easier to completely withdraw from a market rather than risk non-compliance with conflicting policies in this regulatory minefield.

Simply keeping abreast of the myriad legislation and regulation alone is a full-time challenge. Taking steps to ensure full compliance is an arduous task even for the largest and most sophisticated consumer lenders.

American Conference Institute has developed this Fifth National Conference publication on Avoiding Exposure to Regulatory and Civil Actions for Predatory Lending to provide everyone involved in consumer lending, including general counsel, compliance directors, regulatory attorneys and mortgage brokers, with a thorough, up-to-date understanding of the ever-changing legal and regulatory landscape.

This publication includes information from key industry representatives of Ameriquest, Bank One, Budget Finance, New Century Financial, and Option One Mortgage. These knowledgeable insiders will address:
  • The latest on federal preemption and challenges to local and state ordinances
  • How state enforcement officials are addressing potential violations
  • Developments in federal enforcement actions against "predatory" practices
  • What you can do to minimize your exposure to administrative or civil actions
  • The procedures industry leaders have in place to ensure full compliance
  • What can be done to challenge the validity of predatory lending laws
  • An update on litigation in the subprime market and how you can avoid being targeted by plaintiffs' counsel
  • How to comply with competing provisions

Contents & Contributors

About

Do you have the practical information you need to keep your lending program in compliance with ever-evolving anti-predatory lending requirements?

Federal agency regulations, state legislative rules, municipal ordinances and now federal legislation...anti-predatory lending laws continue to proliferate. No longer just a subprime issue, the explosion of these mandates has created a Rubik's cube of lending and reporting requirements, with over 150 separate and distinct governing regimes nationwide.

While the goals of the legislation are unassailable, the methods employed by governing bodies have resulted in a complex maze of conflicting standards and competing definitions. Moreover, with local jurisdictions in the fray and no clear rule on federal or state preemption, it is sometimes easier to completely withdraw from a market rather than risk non-compliance with conflicting policies in this regulatory minefield.

Simply keeping abreast of the myriad legislation and regulation alone is a full-time challenge. Taking steps to ensure full compliance is an arduous task even for the largest and most sophisticated consumer lenders.

American Conference Institute has developed this Fifth National Conference publication on Avoiding Exposure to Regulatory and Civil Actions for Predatory Lending to provide everyone involved in consumer lending, including general counsel, compliance directors, regulatory attorneys and mortgage brokers, with a thorough, up-to-date understanding of the ever-changing legal and regulatory landscape.

This publication includes information from key industry representatives of Ameriquest, Bank One, Budget Finance, New Century Financial, and Option One Mortgage. These knowledgeable insiders will address:
  • The latest on federal preemption and challenges to local and state ordinances
  • How state enforcement officials are addressing potential violations
  • Developments in federal enforcement actions against "predatory" practices
  • What you can do to minimize your exposure to administrative or civil actions
  • The procedures industry leaders have in place to ensure full compliance
  • What can be done to challenge the validity of predatory lending laws
  • An update on litigation in the subprime market and how you can avoid being targeted by plaintiffs' counsel
  • How to comply with competing provisions

Contents & Contributors

IMPACT OF PREDATORY LENDING LAWS ON COMPLIANCE RULES
James Gazdecki, Option One Mortgage Corporation

THE IMPACT OF FEDERAL PREEMPTION ON PREDATORY LENDING COMPLIANCE PROGRAMS
Donald C. Lampe, Womble Carlyle Sandridge & Rice, PLLC

REMARKS BY GOVERNOR EDWARD M. GRAMLICH
Robert Cook, Federal Reserve Board

2003 PREDATORY LENDING DEVELOPMENTS
Therese G. Franzén, Franzén & Salzano
Leslie M. Howell, Franzén & Salzano

THE IMPACT OF FEDERAL PREEMPTION ON PREDATORY LENDING
Robert Lotstein, Lotstein Buckman LLP

FEDERAL TRADE COMMISSION NEWS
Paul F. Hancock, Hogan & Hartson LLP

STATE OF NEW YORK, CHAPTER 626, LAWS OF 2002
Alvin Narin, New York State Banking Department

TANGIBLE NET BENEFIT: MAKING THE ABSTRACT CONCRETE
Andrea Lee Negroni, Goodwin Procter

PREVENTING EXPOSURE TO PREDATORY PRACTICES: A PRACTICAL AND LEGAL GUIDE
Joseph Lynyak, Reed Smith LLP

COMPLIANCE FOR MORTGAGE LENDERS IN THE 21ST CENTURY
Heather Schwartz, PCi Corporation

AUTOMATED COMPLIANCE SOLUTIONS: ARE THEY THE ANSWER?
Tim Green, Mavent

PREDATORY LENDING COMPLIANCE IN THE SECONDARY MARKET: THE CASE FOR AUTOMATION
Jason Roth, LogicEase Solutions Inc.

A HOLISTIC VIEW ON COMPLIANCE
Sanjiv Nathwani, Clayton

AUTOMATED COMPLIANCE SOLUTIONS: ARE THEY THE ANSWER?
Robert Lotstein, Lotstein Buckman LLP

BEST PRACTICES
Adam J. Bass, Ameriquest Mortgage Company

PRACTICAL COMPLIANCE STRATEGIES: MANAGING THE REGULATION PATCHWORK
Michael Lipsitz, Bank One Corporation

PRACTICAL COMPLIANCE STRATEGIES: HOW TO MANAGE THE REGULATION PATCHWORK
Terry Theologides, New Century Financial Corp.

RECENT DEVELOPMENTS IN ASSIGNEE LIABILITY FOR PREDATORY LENDING
James Mann, Wilmer Cutler & Pickering
Gregory Baer, Wilmer Cutler & Pickering

CHALLENGING PREDATORY LENDING LAWS AND CHANGING PUBLIC PERCEPTION
N. Mitchell Feinstein, Budget Finance Company



DOCUMENT TYPES: PRESENTATIONS AVAILABLE: 0