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2023 Legal League Summit Brings Together Attorneys, Government, Servicers – theMReport.com

by Joshua Garcia

The Legal League, an association of legal professionals in the mortgage industry, recently held its semi-annual Fall Servicer Summit as part of the Five Star Conference & Expo in Dallas. The event brought together members of the Legal League, associate members, and mortgage industry professionals to discuss the latest regulatory developments, landmark cases, and emerging issues in the housing and mortgage markets.

The summit began with a keynote speech from Thomas Mason, Branch Chief-Supervisory Senior Account Executive for Ginnie Mae. Mason shared insights from his 30-plus years of experience in the financial/mortgage industry, emphasizing Ginnie Mae’s role in making homeownership affordable through partnerships with mortgage insurers under the HUD umbrella.

Following Mason’s speech, several panel discussions took place throughout the day. The first panel, titled “Mortgage Servicing Litigation: Where It Is and Where It Is Going,” explored the industry in the post-pandemic world and discussed prevalent litigation issues in 2023. The panelists provided their opinions and suggestions on loss mitigation options, government funding, and the rise in litigation in the mortgage servicing space.

The second panel, “Recent Mortgage Issues and Trends in Consumer Bankruptcy Cases,” focused on recent case law, proposed rules and procedures, and emerging issues and trends related to mortgage loans in consumer bankruptcy cases. The participants discussed how bankruptcy courts are returning to normalcy in the post-pandemic world.

One of the highlights of the summit was the panel titled “Diversifying Legal Practice in Real Estate: Embracing Our Default Legal Expertise and Expanding to the Larger Real Estate Ecosystem.” The panel addressed key issues surrounding diversity and inclusion in the legal profession and discussed how technology, such as artificial intelligence, can be leveraged to remain competitive and offer better client services.

Another panel, titled “Foreclosure: Current Trends, Tactics, and Takeaways,” highlighted the current state of the foreclosure landscape and discussed changes within the servicer-attorney process, litigation trends, and requirements updates in GSE foreclosures.

The final panel of the day, “The Core of Diversity and Its Rewards,” delved into the importance of diversity, equity, and inclusion in the business world. The panelists discussed why there is still work to be done in the DEI realm and the benefits that companies can reap by embracing DEI.

The summit concluded with a fireside chat on climate change with the Consumer Financial Protection Bureau (CFPB). The discussion centered around the impact of climate change on the housing market and the long-lasting effects on consumers and lenders.

Overall, the Legal League Fall Servicer Summit provided a platform for legal professionals in the mortgage industry to discuss pressing issues, share insights, and collaborate on finding solutions. The panels covered a range of topics, from litigation and foreclosure to diversity and climate change, reflecting the diverse challenges and opportunities facing the industry today.

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