Steven R. vonBerg is an Associate in the Washington, D.C., office of Buckley LLP. Combining his legal skills with insights gleaned from seven years in the mortgage industry as a loan officer and underwriter, he delivers practical, business-oriented advice on regulatory compliance matters to bank and nonbank mortgage lenders and mortgage servicers.
Mr. vonBerg’s practice is focused on the full spectrum of federal mortgage lending laws, particularly those that have come out of the Consumer Financial Protection Bureau (CFPB), including the Ability-to-Repay and Qualified Mortgage (ATR/QM) rule, the Loan Originator Compensation rule, the Truth in Lending Act-Real Estate Settlement Procedures Act (TILA-RESPA) Integrated Disclosure rule (TRID), RESPA Section 8, the 2013 Mortgage Servicing Rules, and the Home Mortgage Disclosure Act (HMDA) amendments.
He also provides regulatory compliance counsel related to money transmission and electronic signatures, and understands the intersection of technology and the mortgage industry.
Mr. vonBerg is active in the mortgage industry, writing articles and participating in webcasts. He was a contributing author to the CFPB Mortgage Origination Handbook (2nd Edition) and in 2018, completed the Mortgage Bankers Association Future Leaders Program.
Representative matters include:
- Advising numerous clients on the design of mortgage lending programs to comply with regulatory requirements, including reviewing underwriting guidelines to ensure that loans meet the criteria for Qualified Mortgage status
- Advising numerous clients on loan originator compensation agreements and recordkeeping to ensure compliance while adapting to market conditions
- Counseling clients in preparing for changes in regulations, developing compliance protocols, and responding to regulatory examinations, investigations, and enforcement actions
- Seconded to a large nonbank residential mortgage lender to assist in preparing for a CFPB mortgage origination examination
- Represented a large nonbank residential mortgage lender in connection with a CFPB investigation into its loan originator compensation practices
- Represented numerous mortgage industry participants in connection with Freddie Mac Exclusionary List investigations
- Analyzing loan-level mortgage origination documentation to ensure compliance with federal and state law
- Preparing comprehensive surveys of state statutes and regulations related to homeowners association lien priority laws (so-called “super-priority” liens)
- Acting as outside counsel for a money transmission service provider with respect to state licensing and regulatory issues, including initial licensure, changes of control, Nationwide Multi-State Licensing System (NMLS) management issues, annual renewals, and ongoing licensing maintenance
- Reviewing electronic signature procedures for compliance with IRS requirements for Income Verification Express Services (IVES) participants
Mr. vonBerg received his J.D. from the American University Washington College of Law (cum laude) in 2013. During law school, Mr. vonBerg served as an Articles Editor for the American University Business Law Review and as an intern at the U.S. Securities and Exchange Commission in both the Market Abuse Unit and the Office of Market Intelligence. He received his B.A. in Economics from West Virginia University in 2002.
"Is the CFPB bound by its non-binding guidance? The implications of the PHH due process decision for TRID and other CFPB rules" by Steven R. vonBerg
Predictability and certainty are crucial components of the consumer finance market. Consumers crave it, as do industry participants. A common understanding of legal requirements promotes uniformity in the application of consumer protections and allows lenders, servicers, systems providers,...Buckley Commentary & Analysis
Special Alert: D.C. Circuit Panel Rejects CFPB's RESPA Interpretation and Alters its Structure in PHH Corp. v. CFPB
On October 11, a three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit issued an opinion vacating a $109 million penalty imposed on PHH Corporation under the anti-kickback provisions of the Real Estate Settlement Procedures Act (RESPA), concluding that the CFPB...Articles
On Friday, the CFPB issued its much anticipated proposal to amend the KBYO/TRID rule. The CFPB crowded dozens of proposed changes into the almost 300 page proposal, most of which are highly technical and require careful examination. As the Bureau has signaled since its intention to issue amendments...Articles
Director Cordray announced yesterday in a letter to industry trade groups that the CFPB has "begun drafting a Notice of Proposed Rulemaking (NPRM) on the Know Before You Owe Rule.” However, contrary to some reports, the proposal is not imminent. Instead, Director Cordray stated that the Bureau “...Articles
On December 29, 2015, CFPB Director Richard Cordray issued a letter in response to concerns raised by the Mortgage Bankers Association regarding violations of the CFPB’s new TILA-RESPA Integrated Disclosure (“TRID”) rule, also known as the Know Before You Owe rule. In an effort to address concerns...Articles
On October 8, 2015, the Consumer Financial Protection Bureau (“CFPB”) published a compliance bulletin providing guidance to mortgage industry participants regarding the permissibility of marketing services agreements (“MSAs”) under the Real Estate Settlement Procedures Act (“RESPA”). The bulletin...Articles