CFPB Examinations of Mortgage Servicing Transfers: Understanding the Proposed Guidance

Liz has over twenty five years of consulting experience and her specialty is credit risk and operations management consulting across loan originations, credit granting, loan servicing and default management, encompassing loss mitigation, loan modifications, foreclosure and bankruptcy. She has successfully managed large multi-stream projects at captive finance and mortgage servicing organizations. She can analyze the strengths and competitive advantages of credit organizations, especially in default management mortgage servicing operations and lead the operational execution supporting regulatory compliance requirements for DOJ/State AG Settlement and CFPB. She has worked directly with over 80% of the top fifteen US banks and all of the top five Captive Finance organizations. This experience has allowed her to gain a thorough understanding of Consumer, Auto and Mortgage Lending, especially in Servicing and Default Management.

Before joining Deloitte in June, 2003, Liz was responsible for managing the Credit Originations and Collections Practices at American Management Systems, Inc. which included the AMS alliance with Metavante for the CreditLine suite of technology. In this role, she was able to effectively enhance the efficiency and effectiveness of the originations and collections operations at numerous Financial Services, Credit Card, Captive Finance and Mortgage clients. This enabled these credit organizations to develop and implement originations and collections strategies to maximize their profitability and enhance customer relationships.

Michael Brauneis is a Managing Director in Protiviti’s Chicago office and one of the leaders of the firm’s national Regulatory Risk Consulting practice. He is a member of Protiviti’s global Regulatory Reform leadership team and is regularly consulted as a compliance subject matter expert by leading national media outlets, including the Wall Street Journal, the Associated Press, Reuters, the Chicago Tribune, and the American Banker, among many others. Since the passage of the Dodd-Frank Act in 2010, Mike has advised a number of top-25 banks as well as leading non-bank lenders, mortgage servicers, debt collection firms, and consumer reporting agencies on the enhancement of their compliance management systems, implementation of new regulatory requirements, and successful resolution of CFPB and other regulatory agency enforcement actions. Prior to joining Protiviti in January of 2004, Mike held a compliance management position with a top-10 bank holding company. Mike holds the Certified Regulatory Compliance Manager (“CRCM”) designation. michael.brauneis@protiviti.com

Mr. DelPonti is a Managing Director in the Valuation and Financial Risk Management practice and based in the Washington, D.C. office. He co-leads the Mortgage Banking-Financial and Operational Risk Management practice providing consulting services in all aspects of mortgage banking related activities. Mr. DelPonti has extensive experience with over 20 years in mortgage, consumer and finance banking, distressed workouts, capital markets operations, loan valuation and restructuring, portfolio asset management, financial due diligence, post merger integration, lending best practices, mortgage servicing reviews, and risk management including bank regulatory and compliance management. He is a former partner at PricewaterhouseCoopers where he managed business advisory and audit services focused on top 10 mortgage companies.

David is the co-leader of the firm’s Financial Services Litigation Practice Group and the firm’s Consumer Financial Protection Bureau Team. He is an experienced trial attorney who concentrates on financial services and business litigation. David regularly represents banks, financial institutions, consumer credit reporting agencies and furnishers, background screening companies, debt collectors, mortgage lenders and servicers and other consumer finance entities in individual and class action lawsuits. David has substantial experience and expertise in federal court litigation and the CFPB. Follow the ongoing analysis and commentary on developments and activities of the Consumer Financial Protection Bureau from David and the other members of the firm’s CFPB Team on the firm’s CFPB Report blog athttps://www.cfpbreport.com/.