MBA Premier Member Profile: American Mortgage Law Group
(One in a continuing series of Premier Members of the Mortgage Bankers Association)
The attorneys at American Mortgage Law Group PC are known widely in both the legal and mortgage banking industries as being very experienced in representing financial institutions in connection with mortgage related legal services. Known for our cost effective results and innovative solutions, we represent a variety of clients, including mortgage lenders and servicers, commercial banks, thrifts, savings and loan associations, credit unions, title companies, third-party vendors, hedge funds, and more. While we are a California-based practice, we have attorneys who are licensed in a number of different jurisdictions and continue to serve our many mortgage banking clients throughout the country.
Our Philosophy At AMLG, we are dedicated to providing our clients with the best representation possible. Our attorneys are aggressive, bright and professional and are committed to creating a value add service for our clients, whether through our mitigation or litigation related services or through our regulatory compliance advice and counsel.
Mitigation and Litigation
Unlike other law firms, AMLG focuses on recovery solutions first and litigation second. We are experienced in mediations and settlement negotiations and always work diligently to represent the best interests of our clients. When litigation is unavoidable, we vigorously pursue trial preparations and related pleadings, including the robust pursuit and/or contesting of damages. We value timely mitigation, recovery and restitution, and have established a reputation for being highly efficient and successful.
Regulatory Compliance and Business Services
At AMLG, we understand that the risk environment in the mortgage banking industry is always shifting. We are committed to identifying new risks as they appear in the market and to creating innovative and resourceful solutions for our clients. We pride ourselves on thinking outside the box and on providing creative, cost effective solutions to difficult problems in a way that best minimizes client risk.
Our Team
Our attorneys and professional legal team concentrates on litigation and mortgage banking related matters. We have established enduring relationships with mortgage industry leaders and support providers. This allows us to stay on top of industry trends and provide comprehensive, thoughtful solutions for the needs of our mortgage banking clients. Our team serves as local counsel for national and regional organizations based in California, as well as pro hac vice counsel for national and regional organizations across the country. Our attorneys appear regularly in state, federal, district, circuit and appellate courts throughout California and nationally. As experts in the field, we routinely speak at industry conferences and events and host collaborative webinars on emerging trends and relevant topics.
What We Do
—Mortgage Repurchase and Indemnification Defense & Workout. AMLG has managed thousands of cases where loans have been subject to repurchase and indemnification demands. We understand the nuances of mortgage repurchases and have developed highly successful strategies for efficiently and effectively disputing, rebutting and settling such demands placed on our clients.
–Litigation. AMLG advises and represents clients in all areas of mortgage related commercial litigation. Our dedicated team provides cost-effective litigation services on a variety of matters ranging from repurchase defense to contract disputes to fraud and more.
—Regulatory Compliance & Examinations. Our attorneys and skilled professionals are experienced with mortgage banking related laws and regulations as well as their resulting implementation and compliance concerns. We regularly advise clients on all areas of regulatory compliance within the mortgage banking industry and are constantly monitoring for new developments and enforcement actions to best serve and advise our clients.
—White Collar Defense. Our in-depth knowledge of the mortgage industry makes us the ideal legal representatives for clients such as lenders, brokers, loan officers and other industry professionals facing civil and/or criminal litigation or mitigation.
To learn more details about our team and representation, visit our website at http://americanmlg.com, or contact James Brody, senior managing member, at jbrody@americanmlg.com.
MBA NEWSLINK: What trends might your company find compelling in the next few years?
AMLG: Right now, we’re seeing two parallel trends in terms of our business. The first is that the waves of repurchase litigation have not subsided as we originally anticipated. Mortgage loan repurchase demands have been a problem for our mortgage banking clients for many years; these problems were only exacerbated by the sub-prime mortgage loan crisis. The fall-out from the crisis and the bursting of the housing bubble resulted in a massive increase in loan defaults. As a result, many investors, GSEs, mortgage insurance companies, and trustees attempted to mitigate losses by engaging in repurchase and/or indemnification demands.
This has been an ongoing trend for some time, but we’re finding that even as pre-crisis loans from the early 2000s are addressed, new waves of repurchase and litigation demands continue to be brought from later post-crisis loan vintages. So we’re continuing to see an uptick in these types of demand letters, which often result in mediation and settlement agreements, but many times proceed to active litigation. Right now, we’re representing a large number of clients in litigation against Lehman Brothers Holdings Inc., the ResCap Liquidating Trust, Citibank and more.
The second parallel trend we’re seeing is on the regulatory compliance side of things. Regulatory compliance has always been a hot-button issue for our clients. However, the fall-out from the mortgage crisis and the bursting of the housing bubble has resulted in a flood of new laws and regulations in recent years. As regulatory oversight of the mortgage industry expands, our clients are being forced to spend more time and resources on compliance. Many of our clients turn to us for our regulatory expertise, either because they can’t afford to keep an attorney or legal staff on full-time to handle such issues, or because the legal representation they do have in-house is more of general counsel and may not be experienced in such complex areas such as TRID or loan originator compensation.
NEWSLINK: What is the single most important issue facing your company right now?
AMLG: Right now, the biggest issue we’re facing as a firm is just keeping up with our ongoing growth as the industry continues to grow and so does the demand for quality legal counsel in the niche area of mortgage banking. As noted above, investors are continuing to push forward with buy-back demands, lenders are continuing to push back, and the ensuing market for strong representation is booming. When you combine that with increased regulations and supervisory examinations, along with tighter controls and increased worries regarding compliance risk, you can see that demand is higher than it’s ever been. Lenders are worried about risk and about finding smart ways to mitigate it that make both business and financial sense. And that’s what we help our clients do every day.
NEWSLINK: Why did your company join the Mortgage Bankers Association?
AMLG: AMLG has long-been a member of the Mortgage Bankers Association. We have a strong history of working with the MBA on joint initiatives including webinars, conferences and other speaking and educational engagements. For us, many of our clients are MBA members as well. By participating in MBA events and making sure we contribute to the MBA and its mission, it’s just another way we can help support our clients and their needs. Not to mention it provides us another platform to interact with our clients and foster important industry relationships.
NEWSLINK: How has being an MBA Premier level member benefited your company?
AMLG: AMLG recently joined the ranks of MBA’s premier level membership. We’re looking forward to taking advantage of all the opportunities such membership has to offer, including increased opportunities for education, networking, and marketing. We appreciate the efforts of the MBA and the platform they offer their members to help assist with their business, educational, and networking needs.
(MBA Premier Member Profiles are a service provided by the Mortgage Bankers Association and MBA NewsLink as a service to MBA Premier Members. Publication does not constitute an endorsement of a particular company, product or service. For more information about the MBA Premier Member program, contact Julie Dychkewich at jdychkewich@mortgagebankers.org or 202/557-2779.)
