Assessing Compliance Risks in the Home Equity Lending Market

6 minute read | August.21.2023

Partner Heidi Bauer, counsel Steve vonBerg and associate Graham Gardner provide guidance on the regulatory risks in the current home equity lending market in this Law360 article.
Borrowers are increasingly shifting to competing mortgage products such as junior-lien mortgages and home equity lines of credit (HELOCs). As a result, the article advises, “It is of the utmost importance that before beginning to offer additional consumer credit products, you familiarize yourself with the unique requirements, restrictions and risks that accompany those products.”

Authors

Heidi Bauer Partner, Financial & Fintech Advisory, Strategic Advisory & Government Enforcement (SAGE)

Washington, D.C.

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D:+1 202 349 8044
E: [email protected]

Practice:

Financial & Fintech Advisory
Strategic Advisory & Government Enforcement (SAGE)
Fintech

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Heidi Bauer Partner

Washington, D.C.

Heidi represents mortgage lenders and servicers, banks, consumer finance companies, fintech companies, money transmitters, securities broker-dealers and private equity firms and other financial sponsors of such entities with regulatory, compliance, licensing and transactional matters.

She assists clients with matters before state regulatory agencies, the Consumer Financial Protection Bureau (CFPB) and the Department of Housing and Urban Development (HUD). In addition, Heidi advises financial and strategic purchasers of financial services firms and assets on regulatory matters, including due diligence of target companies and transactional structuring in light of federal and state licensing and regulatory requirements, and assists them in securing regulatory approvals for transactions.

Prior to joining Orrick, Heidi was a partner at Buckley LLP.

Steven vonBerg Counsel, Financial & Fintech Advisory, Strategic Advisory & Government Enforcement (SAGE)

Washington, D.C.

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D:+1 202 524 7893
E: [email protected]

Practice:

Financial & Fintech Advisory
Strategic Advisory & Government Enforcement (SAGE)
Fintech

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See full bio

Steven vonBerg Counsel

Washington, D.C.

Steve’s practice is focused on the full spectrum of federal mortgage lending laws, particularly those that have come out of the Consumer Financial Protection Bureau (CFPB), including the Ability-to-Repay and Qualified Mortgage (ATR/QM) rule, the Loan Originator Compensation rule, the Truth in Lending Act-Real Estate Settlement Procedures Act (TILA-RESPA) Integrated Disclosure rule (TRID), RESPA Section 8, the 2013 Mortgage Servicing Rules and the Home Mortgage Disclosure Act (HMDA) amendments.

Steve is active in the mortgage industry, writing articles and is a regular speaker at mortgage industry conferences. He was a contributing author to the CFPB Mortgage Origination Handbook (2nd Edition). Steve also holds a Certified Mortgage Banker designation from the Mortgage Bankers Association and also completed the MBA's Future Leaders Program in 2018.

Prior to joining Orrick, Steve was Counsel at Buckley LLP.