Overview

Michael McElroy is a partner in Mayer Brown’s Washington DC office and a member of the Banking & Finance practice. He focuses his practice on an array of matters related to the mortgage banking and financial services industries. Previously, he was general counsel and secretary of First Guaranty Mortgage Corporation, a mortgage lender headquartered in McLean, Virginia, and general counsel, chief compliance officer, and secretary for Stonegate Mortgage Corporation, an NYSE-listed mortgage lender and servicer.

Mike is a highly accomplished lawyer with more than 20 years of experience at national mortgage firms, government-sponsored enterprises and private law firms. His range of work includes:

  • Structured finance transactions
  • Warehouse and mortgage servicing financings
  • Regulatory actions and examinations
  • Mortgage origination and servicing regulatory compliance
  • Mortgage servicing rights sales and purchases
  • Corporate governance and board advisory matters
  • Litigation management and mediations
  • Mergers & acquisitions
  • Corporate debt and stock issuances
  • IPOs
  • Private equity investments
  • Technology and other outsourcing transactions 

From his position as general counsel and as a partner in private practice, he has led numerous critical initiatives for growing financial services companies, including:

  • Financing mortgage loans and related assets with balances exceeding $6 billion in the aggregate
  • Negotiating $3+ billion in M&A transactions, including the issuance of debt and equity to fund the acquisitions
  • Leading the successful IPO of a first-of-its-kind mortgage servicing finance company
  • Directing the legal, compliance, risk, internal audit, and licensing departments for public and private mortgage bankers
  • Leading the on-site responses and follow-on reporting for some of the earliest CFPB examinations of mortgage servicers and originators
  • Structuring some of the earliest de-linked credit card securitizations  

Education

Kenyon College, BA, magna cum laude

Phi Beta Kappa

University of Virginia, MAS

Georgetown University Law Center, JD

Admissions

  • District of Columbia