Welcome to the American Mortgage Law Group, P.C.

Greater San Francisco & Greater Los Angeles Areas

Mortgage Repurchase and Indemnification Defense & Workout

AMLG has managed thousands of cases where loans have been subject to buy-back demands. We understand the nuances of mortgage repurchases and deploy various strategies to efficiently and effectively dispute, rebut and settle the demands placed on our clients.

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Litigation

AMLG advises and represents clients in all areas of mortgage related commercial litigation. Our dedicated team provides cost-effective litigation services on a variety of matters ranging from repurchase defense to contract disputes to fraud and more.

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Regulatory Compliance & Examinations

The AMLG team is experienced with the complex range of mortgage banking related laws and regulations. We constantly monitor for new developments and enforcement actions so that we may best serve and advise our clients.

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White Collar Defense

Our in-depth knowledge of the mortgage industry makes us the ideal legal representatives for clients such as lenders, brokers, loan officers and other industry professionals in both civil and criminal litigation and mitigation.

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Recent News

CFPB Publishes Long-Awaited Proposed Amendments to TRID Rule

Since before TRID (also known as the TILA/RESPA Integrated Disclosure Rule and/or the Know Before You Owe Mortgage Disclosure Rule) went into effect on October 3, 2015, the industry has been grappling to understand the complexities and nuances of the extensive new rules and regulations. While many industry participants have been able to institute best practices to work towards compliance with the purpose and intent of the Rule, many gray areas still remain where the industry seeks additional guidance. Long-awaited by the industry, the CFPB recently released proposed updates to the TRID Rule on July 29, 2016 for public comment. According to the CFPB, “the proposed amendments are intended to formalize guidance in the rule, and provide greater clarity and certainty.” In addition to a number of clarifications that codify the Bureau’s previously informal guidance on various issues and other technical updates, the amendments address four substantive categories of proposed changes: Tolerances for the Total of Payments – Prior to the TRID Rule going into effect, the total of payments disclosure was determined using the finance charge as part of the calculation. The TRID Rule changed the total of payments calculation so that it did not specifically use the finance charge. The Bureau is now proposing to amend the Rule to include tolerance provisions for the total of payments that parallel existing tolerances for the finance charge and disclosures affected by the finance charge. According to the Bureau, this change would make the total of payments disclosure consistent with its previous treatment under Regulation Z, pre-TRID. Housing Assistance Lending – The Bureau is proposing to extend a partial exemption... read more

CFPB Updates Mortgage Servicing Rules

On August 4, 2016, the CFPB published a final rule that amends the Bureau’s Mortgage Servicing Rules, which went into effect in 2014. In addition to a number of technical corrections to servicing-related provisions of Regulations X and Y, the final rule updates the Mortgage Servicing Rules in the following substantive ways: Updates the requirements for servicers communicating with borrowers who have applied for loss mitigation; Requires servicers to give the protections of the loss mitigation rules to certain borrowers more than once during the life of their loan; Provides additional protections for successors in interest; Expands the definition of successor in interest; Requires servicers to provide information to potential successors in interest about the documentation needed to confirm their status; Ensures that confirmed successors in interest are given access to many of the same notices and documents that the original borrower would have received; Provides additional information to borrowers in bankruptcy; Provides borrowers in bankruptcy with periodic statements in certain circumstances, with specific information tailored for bankruptcy; Provides borrowers in bankruptcy with a modified early intervention notice to let them know about loss mitigation options; Provides flexibility for servicers to comply with certain force-placed insurance requirements; Finalizes a general definition of delinquency that applies to all of the servicing provisions of Regulation X and the provisions regarding periodic statements for mortgage loans in Regulation Z; Clarifies the treatment of periodic payments made by consumers who are performing under temporary loss mitigation programs or permanent loan modifications; Clarifies the early intervention live contact obligations of servicers; Clarifies various periodic statement disclosure requirements; and Clarifies the small servicer exemption. The... read more

CFPB Announces Annual Adjustments to TILA Thresholds

On June 27, 2016, the CFPB issued a final rule that sets forth the required annual threshold adjustments under Regulation Z, which implements the Truth in Lending Act (TILA).The final rule updates the dollar amounts of various thresholds that are required to be adjusted annually based on the annual percentage change in the Consumer Price Index, including thresholds that fall under the Home Ownership and Equity Protection Act of 1994 (HOEPA) and the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), such as those included in the Ability to Repay and Qualified Mortgage Rules.  The rule includes the following updated thresholds: CFPB Law/Regulation Type of Threshold Adjusted Threshold Amount Truth in Lending Act, Regulation Z, 12 C.F.R. § 1026.32(a)(1)(ii)(A) – Home Ownership and Equity Protection Act Total loan amount threshold for High-Cost Mortgages $20,579 Truth in Lending Act, Regulation Z, 12 C.F.R. § 1026.32(a)(1)(ii)(B) – Home Ownership and Equity Protection Act Points and fees dollar trigger for High-Cost Mortgages $1,029 Truth in Lending Act, Regulation Z, 12 C.F.R. § 1026.43(e)(3)(iii)(A) – Dodd-Frank Act Ability to Repay Rule – maximum threshold for total points and fees for Qualified Mortgages 3% of the total loan amount for a loan greater than or equal to $102,894 Truth in Lending Act, Regulation Z, 12 C.F.R. § 1026.43(e)(3)(iii)(B) – Dodd-Frank Act Ability to Repay Rule – maximum threshold for total points and fees for Qualified Mortgages $3,087 for a loan amount greater than or equal to $61,737 but less than $102,894   Truth in Lending Act, Regulation Z, 12 C.F.R. § 1026.43(e)(3)(iii)(C) – Dodd-Frank Act Ability to Repay Rule – maximum threshold... read more

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