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Areas of Practice
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Representative Experience
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Professional/Civic Activities
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Speaking Engagements
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Bar Admissions
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Education
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Additional Information
Areas of Practice
Nanci Weissgold focuses on state and federal regulatory compliance issues related to mortgage banking and consumer finance in both the primary and secondary markets. Nanci counsels mortgage brokers and mortgage lenders, consumer finance companies, financial institutions, investors, and other secondary market participants on issues related to the origination and servicing of forward and reverse mortgage products as well as other non-real estate secured consumer loans.
Nanci is the primary outside counsel for the Women and Housing and Finance Foundation. She is also a frequent speaker at legal and industry conferences and has published numerous articles on mortgage banking and consumer finance related topics. Nanci serves on the Mortgage Banker's Association, State Legislative & Regulatory Steering Committee and Predatory Lending Subcommittee and serves as Chair of the Certified Mortgage Compliance Professional (CMCP) Risk Management and Compliance Course Committee. Nanci also sits on K&L Gates' Associate Committee and is the co-chair of the Women's Attorney group for the firm's Washington, D.C. office.
Representative Experience
- Advise clients on compliance with state and federal laws including laws governing licensing, usury, fees, and disclosures in connection with the origination of mortgage and non-real estate related lending programs.
- Provide regulatory counseling, memoranda, opinions and 50-state surveys and fee charts on state and federal laws impacting the origination, servicing and sale of mortgage loans and consumer loan products.
- Draft mortgage lending legislation and corrective legislation for state bills.
- Draft comment letters on proposed legislation and regulations.
- Advise on regulatory requirements involving marketing, advertising, and other claims related to unfair and deceptive acts and practices law.
- Advise secondary mortgage market participants on legal liability arising from federal and state anti-predatory and other abusive lending laws.
- Respond to state examination findings and state enforcement actions.
- Advise investment banks on state consumer credit laws and licensing requirements in order to broker and originate non-real estate secured loans to high wealth borrowers.
- For national servicers and other secondary market participants, analyze and advise on state foreclosure and servicing legislation that impact servicers prior to the first legal action (i.e. notice of intent to foreclose, loan modifications, mediation, right to reinstatement, credit counseling, tenants’ rights, registration/maintenance of abandoned properties).
- Advise clients on federal preemption of state origination and servicing laws.
- Advise clients on how to ensure origination and servicing practices accurately reflect loan document s.
- Advise clients on ramifications of one-action, security first rules or anti-deficiency statutes in the collection of deficiencies after foreclosure or short sale.
- Advise lenders on changes to FHA reverse mortgage product resulting from the passage of the Federal Economic Recovery Act and other reverse mortgage lending issues under federal and state law.
- Represent hedge fund entering the mortgage banking business buying mortgage lenders or mortgage related assets out of bankruptcy to take advantage of the melt-down in the subprime mortgage market.
- Represent secondary market participant in their consideration of Shariah-compliant residential real estate financing transaction, including exploring risks of recharacterization of the transaction in connection with tax and bankruptcy consequences, state foreclosure laws, and other issues.
Professional/Civic Activities
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Member, Mortgage Bankers Association, State Legislative & Regulatory Steering Committee and Predatory Lending Subcommittee; Chair of the Certified Mortgage Compliance Professional Risk Management and Compliance Course Committee
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Member, American Bar Association
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Primary Outside Counsel, Women in Housing and Finance Foundation
Speaking Engagements
- “Intersections: Federal Preemption of New State and Local Mortgage Servicing Laws,” K&L Gates, Webinar, November 2008.
- “Legislative Changes for Reverse Mortgage Lending, Fall Reverse Mortgage Lending Conference,” Mortgage Bankers Association, Miami, Florida, October 2008.
- “Trends in Servicing and Foreclosure Legislation,” Regulatory Compliance Conference, Mortgage Bankers Association, Washington, D.C., September 2008.
- “Reverse Mortgage Opportunities & Compliance Guidelines,” A.S. Pratt & Sons Audio Conference, Panelist, Miami, Florida, July 2008.
- “State Anti-Predatory Lending Developments,” Legal Issues & Regulatory Compliance Conference, Mortgage Bankers Association, California, April 2008.
- “Regulatory Update: State Issues,” MBA’s Nonprime & Specialty Lending Conference, Panelist, Chicago, Illinois, March 2008.
- ““Selected Legal Requirements,” Reverse Mortgages: Build Volume with Reverse Mortgages,” October Seminars eRadio, Panelist, Washington, D.C. February 2008.
- “Surviving & Prevailing in Today’s Mortgage Marketplace,” National Mortgage News, November 2007.
- “Legal Risk Issues. QA & Non-Traditional Products,” MBA Quality Assurance Conference, Panelist, Washington, D.C., October, 2007.
- “Legal Issues Conference,” Mortgage Bankers Association, May, 2007.
Bar Admissions
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Bar of District of Columbia
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Bar of Pennsylvania
Education
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J.D.,
American University, Washington College of Law
(1992)
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B.A.,
University of Massachusetts at Amherst
(1989)
(summa cum laude; Phi Beta Kappa)
Additional Information
Publications
- “Make My Day: States Dare Servicers to Foreclose,” Mortgage Banking & Consumer Credit Alert, by Nanci L. Weissgold, Morey Barnes, November 2008.
- “California’s Foreclosure Legislation – New Rules for Hide and Seek,” Mortgage Banking & Consumer Credit Alert, by Jonathan D. Jaffe, Nanci L. Weissgold, July 2008
- “Cook County Database Redux, with an Anti-Predatory Lending Kicker – New Statewide Anti-Predatory Lending Requirements,” Mortgage Banking & Consumer Credit Alert, by Laurence E. Platt, Nanci L. Weissgold, June 2008.
- “ Massachusetts Gives Lenders No Time to Prepare: Opt-In Rule for Subprime Variable Rate Loans to First-Time Borrowers,” Mortgage Banking & Consumer Credit Alert, by Nanci L. Weissgold, Kerri M. Smith, January 2008.
- “Policy Watch: Reverse Mortgages in 2008,” Mortgage Banking & Consumer Credit Alert, by Steven M. Kaplan, Nanci L. Weissgold, Lorna M. Neill, January 2008.
- “Remember [the] Maine!, Mortgage Banking & Consumer Credit Alert, by Nanci L. Weissgold, Kristie D. Kully, Stephanie C. Robinson, January 2008
- “Don’t Fence Me Out: Massachusetts Encourages Lenders to Stay Away, Mortgage Banking & Consumer Credit Alert,” by Laurence E. Platt, Nanci L. Weissgold, November 2007.
- “Hurricane Subprime: Will Congress Provide Disaster Relief from Home Foreclosure? BNA’s Banking Report, by Laurence E. Platt, Nanci L. Weissgold, David L. Beam, April 2007.
- “‘Me Too’ Regulation: States Adopt Federal Guidance on Nontraditional Products,” Mortgage Banking & Consumer Credit Alert, by Nanci L. Weissgold, Kristie D. Kully, Jonathan D. Jaffe, January 2007.
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