Education
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George Washington University Law School, J.D., with honors, 1983
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State University of New York at Oneonta, B.A., with honors, 1980
Bar Admissions
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District of Columbia
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Virginia
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Richard Andreano offers clients 25 years of experience and a thorough understanding of issues facing the financial services, mortgage banking and consumer finance industries. He advises lenders, brokers, home builders, title companies, real estate professionals and other settlement providers regarding regulatory compliance and transactional matters, Federal Housing Administration (FHA) issues, as well as administrative enforcement actions and investigations. He also confers with litigation counsel regarding strategies to defend class action and other lawsuits involving regulatory claims.
Mr. Andreano counsels settlement service providers through issues concerning the Dodd-Frank Wall Street Reform and Consumer Protection Act, Real Estate Settlement Procedures Act (RESPA), Truth in Lending Act (TILA), Equal Credit Opportunity Act (ECOA), Fair Housing Act, Fair Credit Reporting Act (including FACTA), Home Mortgage Disclosure Act (HMDA) and the Gramm Leach Bliley Act. Among a range of specific issues, he assists clients with regulatory issues regarding loan originator compensation, disclosures, servicing, the liquidation of distressed loan portfolios, affiliated business and service arrangements, marketing and promotional programs, and incentive and other arrangements. Previously, Mr. Andreano served as an analyst for the National Association of Securities Dealers.
In addition to serving as a frequent contributor to MortgageDaily.com and RESPANews.com, Mr. Andreano is a regular speaker on industry matters for trade groups, including the Mortgage Bankers Association, American Bankers Association, RESPRO and October Research.
Mr. Andreano takes pride in giving back to his community and recently completed six years of volunteer activity at The Madeira School in McLean. He previously served with his wife as presidents of the Parents Association for the 2007-2008 school year, and also was a member of the board of trustees that same year.
Representative Matters:
- Aided in the creation and implementation of policies and procedures in connection with the Home Affordable Mortgage Program (HAMP) and related programs.
- Aided in the creation and implementation of policies and procedures to comply with major RESPA rule changes effective January 2010.
- Aided in the development and operations of fee for services arrangements, joint venture arrangements and consumer incentive arrangements consistent with RESPA, FHA and other regulatory requirements.
- Aided in the creation and implementation of policies and procedures to comply with various FCRA requirements, including the risk-based pricing rules.
- Aided in the creation and implementation of policies and procedures to comply with changes to the FHA loan insurance program.
- Aided in the creation and implementation of policies and procedures to comply with TILA requirements added by the Mortgage Disclosure Improvement Act.
- Aided in creation and implementation of policies and procedures to comply with major TILA rule changes effective October 2009.
- Aided in the analysis of HMDA data to give lenders the ability to respond to government, press and community group inquiries.
Professional Affiliations:
- American Bar Association
- District of Columbia Bar Association
- Virginia Bar Association
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