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Licensing of Financial Institutions

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Contact us to discuss how we can help you with your legal representation needs. Send us an e-mail or call us at 480.626.8483 to schedule an appointment.

We assist mortgage lenders, brokers and servicers in obtaining licensing from the Arizona Department of Financial Institutions ("AZDFI"), such as the mortgage banker, mortgage broker, commercial mortgage banker and broker licenses as well as the collection agency, escrow agent, sales finance company, consumer lender and other licenses issued by the AZDFI. We assist mortgage lead providers and loan modification businesses, including those operated by attorneys, in obtaining the mortgage broker license and provide advice concerning the licensee's employees obtaining loan originator licenses. We provide advice in connection with making filings with the Nationwide Mortgage Licensing System & Registry ("NMLS") including the Mortgage Call Reports.

 

We represent a wide variety of mortgage businesses from large national lenders and servicers to small, local businesses which fund the purchase of properties at foreclosure sale.

 

We provide advice concerning compliance with the statutes and regulations enforced by the AZDFI as well as federal laws such as the Truth in Lending Act, and amendments thereto, Regulation Z, the Real Estate Settlement Procedures Act, Regulation X and various provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, including the Consumer Financial Protection Act.

 

We assist clients with examinations by the AZDFI and will assist clients with examinations by the Consumer Financial Protection Bureau (CFPB), the new federal agency created pursuant to the Consumer Financial Protection Act.

 

We represent clients which have been served with a Cease and Desist Order or sent a letter advising of compliance infractions by the AZDFI and other state and federal agencies. Depending upon the circumstances, we will assist the client in negotiating a resolution or, as appropriate, contest the matter through the administrative hearing process.

 

We can assist with matters involving FHA, HUD, Fannie Mae, Freddie Mac, Ginnie Mae and the VA including the approval process, compliance and repurchase demands.

 

We are also available to act as local counsel in connection with the foregoing matters.

 

 

 

 

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