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Phillip L. Schulman

Fax +1.202.778.9100

Mr. Schulman has a national practice specializing in a range of matters related to real estate finance, mortgage banking and consumer finance in both the primary and secondary markets, including:

  • Representing companies in the mortgage lending, title insurance and real estate industries in connection with administrative and regulatory compliance matters, including those involving the CFPB, HUD, VA, Ginnie Mae, Fannie Mae, and Freddie Mac;
  • Advising clients on matters related to approval, origination and servicing requirements under the Federal Housing Administration single-family loan programs;
  • Defending companies in connection with governmental audits, investigations and enforcement proceedings, before, among others, the CFPB, HUD, VA, DOJ and FTC with specialties involving defense of False Claims Act, FIRREA, Mortgage Review Board and RESPA enforcement matters;
  • Developing and analyzing proposed business plans, and drafting the related agreements and disclosures, based upon applicable federal and state laws, regulations and rules, such as the Real Estate Settlement Procedures Act, the Truth-in-Lending Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Fair Housing Act, state licensing laws, consumer credit laws, usury laws, unfair and deceptive trade laws and real property laws;
  • Performing specialized regulatory compliance due diligence and assisting in structuring operations and developing compliance management systems;
  • Acting as regulatory counsel to the FAIR Coalition and defending clients in government investigation and enforcement proceedings concerning valuation issues; and,
  • Assisting in litigation involving regulatory compliance matters, consumer class action lawsuits and commercial claims.

Professional Background

Mr. Schulman was nationally ranked by Chambers USA 2012, 2013 and most recently, in 2014, under Financial Services Regulation: Consumer Finance (Compliance) (Band 2). Mr. Schulman is a member of the American College of Financial Services Lawyers, and is also the former General Counsel to the Home Improvement Lenders Association and was the former Assistant General Counsel of the Inspector General and Administrative Proceedings Division, U.S. Department of Housing and Urban Development. Mr. Schulman is ranked by The Legal Network as one of the Top Lawyers in Washington, D.C. for 2013, and is peer rated in the Martindale-Hubbell® directory as AV® Preeminent, the highest level of professional excellence.

Selected Publications and Presentations
Mr. Schulman has authored dozens of articles on issues affecting the settlement service industry, and is a frequent contributor to Mortgage Banking magazine, October Research The Title Report, the National Association of Realtors RESPA Realities and National Home Builders Association publications. He is also co-author with Larry Platt of A Practical Guide to the Real Estate Settlement Procedures Act, published by Warren Gorham & Lamont. In 2013, Mr. Schulman co-authored with Holly S. Bunting MBA Compliance Essentials: The Real Estate Settlement Procedures Act.

Mr. Schulman is a frequent lecturer for seminars and conferences sponsored by the Mortgage Bankers Association, the American Land Title Association, the National Association of Realtors and other industry-related groups on various legal issues involving real estate, title, mortgage banking and consumer finance.