Steven R. vonBerg is Counsel 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 satisfy the Ability-to-Repay requirements or 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
- Preparing numerous clients in anticipation of regulatory examinations, including conducting mock CFPB mortgage origination examinations
- 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 Multistate 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.
Steven R. vonBerg quoted in S&P Global Market Intelligence article, “Late notice of Juneteenth federal holiday causes headaches for mortgage lenders”
Steve vonBerg discussed in the S&P Global Market Intelligence article, “Late notice of Juneteenth federal holiday causes headaches for mortgage lenders,” the impact that the last-minute decision to make Juneteenth a federal holiday had on mortgage lenders: "It was very much a balancing act...In The News
Steven R. vonBerg quoted extensively in Law.com article, “With no commute, time gained is easily lost as barriers erode”
Steven R. vonBerg was quoted extensively in the Law.com article, “With no commute, time gained is easily lost as barriers erode,” on the benefits and downsides of working remotely this year. He remarked on the shorter commute and the ability to spend more time with his family, and noted that...In The News
WASHINGTON, D.C. (Jan. 5, 2021) – Buckley LLP today announced the promotion of three associates to counsel and one to senior counsel, effective Jan. 1. The attorneys are from the firm’s Chicago, New York, and Washington, D.C., offices. “Kate, Steve, Megan, and Tom have consistently done outstanding...Press Releases
"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
Who pays delinquent dues when it comes to shared-interest communities governed by homeowner associations? This is a growing problem that is nowhere close to being solved. Lenders stand to lose big unless the issue is addressed. Originally published in Mortgage Banking Magazine; reprinted with...Articles