Issue link: http://dsnews.uberflip.com/i/1056251
» VISIT US ONLINE @ DSNEWS.COM 21 What are the biggest challenges for firms working to help clients ensure compliance in an ever-shifting regulatory environment? Clients rely heavily on their partner firms to keep them updated on changes in laws, regulations, and local rules. Firms should partner with servicers on various cleanup and special projects impacting foreclosure, REO, collections, loss mitigation, or bankruptcy—the goal should be to be plugged in at every level of mortgage servicing. Both servicers and law firms are working toward the goal of keeping people in their homes, and it is through that lens that firms should counsel their clients, whether on a microcase level or a macropolicy change initiative. Once your firm has that culture baked into its guidance, it makes the legal analysis that much better. What are some pending cases that could have a major impact or set precedents for the industry going forward? e case I think all servicers and law firms should have their eye on is Obduskey v. Mc- Carthy & Holthus LLP, which is before the U.S. Supreme Court. e issue at hand is whether the nonjudicial foreclosure process and the act of conducting a trustee's sale qualify as "debt collections" under the Fair Debt Collection Practices Act. While states properly have governing foreclosure laws to protect consum- ers, this case will help properly scope the federal definition of "debt collector." ere are numer- ous amicus briefs on the matter, one being from our friends at the Legal League 100. Your firm is a member of the Legal League 100. Why do you think the League is important and beneficial? Legal League 100 (LL100) is an exclusive association of financial services law firms that represent each state. In my experience over the past several years, the LL100 conferences have been the most well attended, and for good reason; it is where servicers and law firms can speak candidly on the state of the industry, challenges in mortgage servicing, trends in laws and regulations, and best practices. e quarterly newsletter covers relevant topics in our industry; something you could hand a litigation manager in a servicer's shop and ask, "Are we protected given these changes?" PROMOTING THE WELFARE OF HOMEOWNERSHIP With representation from the BCFP, HUD, FHFA, Fannie Mae, Freddie Mac, Ginnie Mae, and others, the annual Five Star Government Forum is a day-long gathering where leaders in mor tgage servicing and the federal government engage in open dialogue surrounding the protection and preservation of American homeownership. APRIL 23, 2019 THEPOLITICS OFPROGRESS THE 2019 FIVE STAR GOVERNMENT FORUM NEWSEUM WASHINGTON, D.C. FIVESTARGOVERNMENTFORUM.COM HOSTING SPONSOR LEADERSHIP SPONSORS CO-HOST SPONSORS