Reid F. Herlihy provides regulatory and transactional advice for clients on a range of issues involving state and federal consumer finance laws. Reid counsels mortgage companies, servicers, consumer finance companies, financial institutions, investment banks, debt collectors, and secondary-market investors on state and federal regulatory compliance issues.
Reid regularly counsels clients on issues regarding the CFPB's Mortgage Servicing Rules, advertising, fair debt collection, lending and servicing disclosures, loss mitigation, foreclosure procedures, and business practices. He also assists clients with state and federal examination issues and regulatory actions.
Experience
Representative Matters
- Counseled several mortgage servicers on compliance and implementation issues under the CFPB's Mortgage Servicing Rules
- Advised several national mortgage servicers on compliance and best practices in connection with the COVID-19 national emergency and the pertinent mortgage servicing regulatory requirements.
- Performed compliance assessments and mock CFPB examinations for mortgage lenders and servicers
Professional Highlights
Speaking Engagements
Panelist, “Servicing – Key Compliance Considerations,” Mortgage Bankers Association Compliance and Risk Management Conference – Washington, D.C., September 12, 2023
Panelist, “Super Session,” Mortgage Bankers Association Legal Issues and Regulatory Compliance Conference – Austin, May 10, 2023
Panelist, "Mortgage Servicing Compliance Outlook," Aces Quality Management webinar, February 1, 2023
Panelist, “Managing Compliance with Evolving Servicing Regulation,” Mortgage Bankers Association Servicing Solutions Conference - Orlando, February 23, 2022
Publications
"Fair Debt Collection Practices Act" chapter of Mortgage Finance Regulation Answer Book 2011-2012, published by the Practising Law Institute
"The Federal Circuit's Interpretation of the Hatch-Waxman Act: Allowing Generics to Induce Infringement," Federal Circuit Bar Journal, August 2005
Related Insights
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The CFPB’s Registry of Nonbanks and Circular that Certain Contract Terms Violate Law
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CFPB’s Proposed Mortgage Servicing Rule Amendments – Understanding the Impact on Loss Mitigation, Foreclosure, and Language Access
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The CFPB’s New Offenders Registry and Contract Language Warnings: Need-to-Know Information for Banks and Nonbanks
Credentials
Education
George Mason University School of Law (J.D. 2006)
Case Comments Editor, Federal Circuit Bar Journal
College of William & Mary (B.S. 2002)
Admissions
Georgia
District of Columbia