Licensing and Approvals
Weiner Brodsky Kider PC’s Licensing and Approvals Practice is nationally recognized for guiding clients through the complexities of the financial service industry’s ever-changing federal and state legal landscape. Our attorneys and licensing professionals are sought out for their skill in identifying, obtaining and maintaining appropriate federal agency approvals, state licenses and approvals and government-sponsored enterprise (GSE) approvals.
We represent clients seeking approvals from the US Department of Housing and Urban Development’s (HUD) Federal Housing Authority (FHA); the Government National Mortgage Association (Ginnie Mae); the Rural Housing Service (RHS); the US Department of Veterans Affairs (VA); as well as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
Our team of attorneys and licensing professionals has extensive experience assisting clients in obtaining state licenses and approvals needed in order to engage in a variety of regulated activities including mortgage lending, reverse mortgage lending, mortgage brokering, servicing, debt collection, appraisal management and real estate brokerage. Our licensing team maintains close relationships with regulators nationwide and assists clients with the submission of new application and renewal filings as well as submissions required in connection with a change in control, asset transfer transaction or entity conversion. Our strong relationships with state and federal regulators and extensive knowledge place us in a strong position to assist our clients with complex licensing matters.
Our attorneys and licensing professionals work closely with representatives of the Conference of State Bank Supervisors (CSBS), which maintains the Nationwide Mortgage Licensing System and Registry (NMLSR). As members of the Industry Development Working Group of CSBS, we regularly have the opportunity to comment on proposed changes and new developments with respect to the NMLSR. We are also affiliate members of the American Association of Residential Mortgage Regulators (AARMR), as well as members of AARMR’s Industry Advisory Council, and counsel to the National Reverse Mortgage Lenders Association (NRMLA).
Our lawyers and staff members have deep industry knowledge, considerable experience and the legal acumen necessary to advocate for our clients.
Representative Matters
- Counsel national and state banks and thrifts and their operating subsidiaries regarding the use of preemption and other exceptions from state licensing and other regulatory requirements
- Counsel entities on licensing implications when purchasing loans
- Assist entities in obtaining new licenses nationwide to conduct various regulated activities
- Obtain change-in-control approvals from federal agencies and state licensing authorities in connection with acquisitions of national mortgage lenders
- Obtain approvals for asset transfer transactions involving national mortgage lenders
- Conduct multistate surveys of requirements and restrictions under licensing laws, including fee, prepayment penalty, advertising, disclosure requirements and restrictions
- Assist clients with reporting obligations in connection with maintaining a license, including annual and mortgage call reporting obligations
- Assist reverse mortgage lenders in obtaining state and federal reverse mortgage lending approvals, by preparing and submitting state and federal filings and advising clients with respect to reverse mortgage lending program requirements