David Roth

Photo of David Roth

David Roth is uniquely qualified to assist financial services clients in developing, implementing, and managing effective TPVMPs. As federal and state regulators continue to heighten their expectations of TPVMPs, David’s experience in this area is an integral component of clients’ efforts to enhance their programs to satisfy the various obligations set forth in guidance from the Office of the Comptroller of the Currency, the FDIC, the Federal Reserve Bank, and in the national servicing standards. He is a co-chair of Bradley’s Financial Services Litigation and Compliance Team. View articles by David

Subscribe to all posts by David Roth

NYDFS’s New (and Expanded) Servicer Vendor Management Expectations

Originally proposed by the New York Department of Financial Services (NYDFS) in 2019 and constituting what the Mortgage Bankers Association has described as “the first major update to Part 419 since its adoption almost 10 years ago,” the new Part 419 of Title 3 of NYDFS regulations covers a range of significant issues impacting the … Continue Reading

As Federal Shutdown Continues, Financial Regulators Seek to Address Related Impacts

With no immediate end in sight to the current federal shutdown, financial regulators are seeking to minimize the adverse impacts of the shutdown on individuals. In a January 11, 2019, press release, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency and … Continue Reading

Guess Who’s Getting Directly into the Vendor Management Business?

In a regulatory field already crowded with federal and state regulators mandating the processes financial services companies employ in managing their vendors, the rather short insertion in the Spring 2017 issue of the Consumer Financial Protection Bureau’s (CFPB) Supervisory Highlights  may initially have sailed largely under the collective industry radar. Recently, however, trade publications have … Continue Reading

10 Questions to Ask your Law Firm Vendor Management Program (Part 2)

We previously provided you five questions to determine whether your law firm vendor management program is sufficiently comprehensive. Given the attention drawn to such programs by regulators such as Office of Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB), it should be no surprise that these five questions are just a … Continue Reading

10 Questions to Ask your Law Firm Vendor Management Program (Part 1)

Law firms providing mortgage servicer clients default-related legal services are vendors, and financial services companies need to treat them as such. Not only that, law firms often interact directly and continuously with borrowers during the most sensitive periods of the lending relationship: foreclosure, bankruptcy, and eviction. As such, it should come as little surprise that … Continue Reading

Third Party Service Providers Remain in the Spotlight

Yesterday, the Office of the Comptroller of the Currency (OCC) released its Semiannual Risk Perspective (the “Semiannual Risk Perspective”). The Semiannual Risk Perspective covers “key issues facing banks, focusing on those that pose threats to the safety and soundness of banks and their compliance with applicable laws and regulations.” While the OCC identifies four main … Continue Reading

Washington Supreme Court Clarifies Mandatory Mediation Program Exemption – Holders Score a Washington Victory

The servicer community recently scored an important victory in an opinion issued by the en banc Washington Supreme Court. The decision—Brown v. Wash. State Dep’t. of Commerce, —clarifies the scope of the small lender exemption to the Washington Foreclosure Fairness Act (FFA) mandatory mediation program (codified at RCW 61.24.166). Further supplementing the victory, the Court … Continue Reading

Seattle Considers Development of Sharia-Compliant Financing

As the United States continues to become increasingly diverse with residents from different cultural backgrounds and religious faiths, financial institutions are working to find ways to provide both consumer and commercial loan financing arrangements that meet the specific needs of their customer base. This includes the development of financing programs that comply with the Islamic … Continue Reading

IRS Releases Guidance on Taxability of Identity Protection Services

As companies and governmental entities increasingly do business and store sensitive information in online or cloud-based environments, the risk of improper disclosure continues to grow. The unprecedented breach of the United States Office of Personnel Management’s (OPM) system, in which the personal data of more than 22 million individuals was stolen, was a topic of … Continue Reading

New York Court of Appeals Clarifies Deficiency Judgment Affidavit Expectations

After a long stretch of inactivity in the default space, the New York Court of Appeals recently returned to the subject with an opinion addressing its expectations regarding affidavits used by parties seeking deficiency judgments in foreclosure actions. While the Court did not opine on what would be necessary for such an affidavit to pass … Continue Reading

Borrowers Cannot Challenge Mortgage Assignments, Says Nebraska Joining Other States

Attacking sufficiency, accuracy, or validity of assignments of mortgages and deeds of trust has been among the most common strategies employed by borrowers to challenge foreclosures. Allegations regarding the status of MERS, the legal authority of the individual executing the assignment, and the timing of the assignment’s recording have all been raised and litigated in … Continue Reading

Text Messaging Program Not an Autodialer Under the TCPA

The United States District Court for the Northern District of California recently held in the putative class action Glauser v. GroupMe, Inc. that GroupMe’s text messaging program was not an autodialer under the Telephone Consumer Protection Act (TCPA). Congress enacted the TCPA in 1991 in an effort to address a growing number of telephone marketing … Continue Reading

FDIC Releases New, Simplified Credit-Worthiness Tool

An integral component of the Dodd-Frank statutory framework was a mandatory, comprehensive evaluation by federal agencies of “any regulation issued by such agency that requires the use of an assessment of the credit-worthiness of a security or money market instrument.” This “credit-worthiness” mandate was codified as Section 939A of the Dodd-Frank Act. As part of … Continue Reading
LexBlog