This week’s HW+ member spotlight features Daniella Casseres, a partner at Mitchell Sandler. Casseres sits on the firm’s management committee, which helps deepen the firm’s commitment to becoming a leading majority-women-owned and -managed financial services law firm. She also heads the firm’s mortgage regulatory practice group, and has a vast background in advising mortgage companies on federal and state regulatory compliance matters, including those involving fair lending, licensing, privacy, and anti-money laundering requirements.
Below, Casseres answers questions about the housing industry:
HousingWire: What were some of your biggest takeaways from last year’s HW Annual event?
Daniella Casseres: Technology is such a big part of maintaining an advantage in the mortgage industry.
HousingWire: Why do you think people should attend HW Annual this year?
Daniella Casseres: HW Annual is a great place to get a pulse on industry trends and connect with vendors that can help you stay ahead of these trends.
HousingWire: What is your current favorite HW+ article and why?
Daniella Casseres: The opinion piece on the CFPB’s lawsuit against NCSLT was very interesting. While the case is not getting much attention in the press, the issue at stake could create a sea of change in how critical investors view regulatory compliance of mortgage loans.
HousingWire: What has been one of the biggest learning opportunities in your career?
Daniella Casseres: I was new to the mortgage industry when I joined the Federal Reserve Bank of Chicago during the mortgage crisis. It was a great learning opportunity because I had to deep dive into mortgage servicing requirements while supervising corrective actions on some of the largest banks in the country.
HousingWire: When do you feel successful in your job?
Daniella Casseres: I feel like a success at my job when I can work out practical solutions for lenders. My goal is to provide them with information to help them stay ahead of regulatory requirements and make better strategic decisions.
HousingWire: What are 2-3 trends that you’re closely following?
Daniella Casseres: I am closely following fair lending enforcement actions related to independent mortgage lenders and the implementation of state CRA requirements.
HousingWire: If you could change or implement one piece of housing regulation, what would it be and why?
Daniella Casseres: If I could implement one piece of housing regulation, I would revise the loan origination compensation rules to give flexibility on compensation for bond loans.
Many lenders implement these programs at a loss to their company because they must compensate loan originators the same on these loans while not being able to control the price of the loans. Flexibility on loan originator compensation for these products could result in more lenders offering these programs, and greater access to credit.
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