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Brian Stief is a senior associate in Mayer Brown’s Washington DC office and a member of the Financial Services Regulatory & Enforcement group. Brian represents companies in the mortgage lending, mortgage servicing and consumer finance industries on federal and state regulatory compliance matters and defends clients subject to government investigations and enforcement proceedings.

Brian advises lenders and servicers, service providers and investors on compliance obligations under federal and state law. His experience covers a range of products and program structures, including residential and business-purpose mortgage loans, shared equity investment products and rental/purchase option programs. He regularly provides guidance on federal consumer financial laws such as the Equal Credit Opportunity Act (ECOA), Fair Credit Reporting Act (FCRA), Real Estate Settlement Procedures Act (RESPA), Truth in Lending Act (TILA), Servicemembers Civil Relief Act (SCRA), and prohibitions on unfair, deceptive, and abusive acts and practices (UDAAPs). He also advises companies regarding state law requirements, including licensing, disclosures and usury and other restrictions on product terms.

Brian defends companies in connection with federal and state governmental investigations and enforcement proceedings before, among others, the Consumer Financial Protection Bureau (CFPB), the US Department of Housing and Urban Development (HUD), the Department of Justice and the Office of Foreign Assets Control, with a particular focus on defense of allegations of UDAAPs.

Prior to entering private practice, Brian was an investigative counsel with the Federal Housing Finance Agency Office of Inspector General (FHFA-OIG). While at FHFA-OIG, Brian conducted investigations of the Federal Housing Finance Agency and its regulated entities in the areas of regulatory compliance, mortgage fraud, and corporate governance. Brian also served as an attorney for the Department of Justice’s Residential Mortgage-backed Securities Working Group. In that role, Brian worked with attorneys from the CFPB, HUD, the Securities and Exchange Commission and United States Attorneys’ offices to investigate alleged misconduct related to the 2008 financial crisis.

Expérience

Regulatory Compliance

  • Counseled clients on federal and state consumer credit laws, including the Equal Credit Opportunity Act (ECOA), Fair Housing Act, Fair Credit Reporting Act (FCRA), Real Estate Settlement Procedures Act (RESPA), Truth in Lending Act (TILA), and others.
  • Conducted regulatory due diligence reviews for portfolio acquisitions of, or investments in, consumer financial products including mortgage loans, unsecured consumer loans, and specialty finance products such as shared equity investments and business-purpose residential real estate-secured mortgage loans.
  • Advised companies on the development of, or investment in, products for the financing and/or acquisition of residential dwellings and home improvements, including shared appreciation and equity-based products.

Supervisory and Enforcement

  • Represented banks and non-bank companies in CFPB, HUD, and DOJ enforcement investigations concerning a broad range of issues, including fair lending, credit reporting, and unfair, deceptive, and abusive acts and practices (UDAAPs).
  • Advised clients regarding consumer remediation plans in connection with possible UDAAPs or other regulatory violations.
  • Assisted company in responding to OFAC subpoena.
  • Assisted mortgage servicer in preparations for CFPB examination.
  • Prepared response to a CFPB PARR letter for bank client.

Formation

Virginia Tech, BA

Washington University School of Law, JD

Inscription au Barreau

Barreau

  • Maryland
  • District of Columbia