Education
-
Catholic University of America, Columbus School of Law, J.D., 1995
-
James Madison University, B.A., cum laude, 1990
Bar Admissions
-
District of Columbia
-
Virginia
|
|
| |
John Socknat uses his knowledge and breadth of the business issues affecting the residential and commercial mortgage banking industries and the legal landscape to advise clients on compliance and licensing matters under state and federal law.
Mr. Socknat’s clients include mortgage and consumer finance companies, financial institutions, title companies, real estate brokers, and secondary market investors. He focuses his practice in matters concerning regulations such as the Real Estate Settlement Procedures Act (RESPA), the Truth-in-Lending Act (TILA), the Fair Credit Reporting Act (FCRA), the Equal Credit Opportunity Act (ECOA), financial privacy in Title V of the Gramm-Leach-Bliley Act, the Fair Debt Collection Practices Act (FDCPA), state consumer credit and debt collection and telemarketing-related issues, among others. He also counsels clients on e-commerce issues, including electronic signatures, electronic storage of records and electronic delivery of credit-related disclosures. In addition, Mr. Socknat has represented clients in asset and stock transactions and joint venture arrangements.
Mr. Socknat performs specialized regulatory compliance due diligence on lenders, servicers, and other settlement service providers, assists with structuring operations and developing compliance programs and represents clients in state and federal enforcement actions.
Mr. Socknat is a member of the Advisory Council to the American Association of Residential Mortgage Regulators (AARMR).
Representative Matters:
- Counseled client regarding regulatory and licensing obligations for a distressed asset disposition platform.
- Represented client in connection with state Attorneys General actions related to advertising practices.
- Advised client in connection with regulatory and licensing obligations for an on-line short sale platform.
- Advised third party processor regarding S.A.F.E. Act obligations.
- Counseled various private equity and hedge funds regarding licensing and other compliance-related issues associated with the acquisition, servicing and disposition of distressed assets - whole loans and mortgage servicing rights.
- Advised client in connection with the consolidation and integration of various title agencies onto a single platform.
- Advised state and federal depository institutions regarding loan officer registration obligations imposed by the S.A.F.E. Act.
- Completed an operational and compliance review of a national lender, involving license, disclosure, fee and policies and procedures reviews.
Professional Affiliations:
- American Bar Association
- District of Columbia Bar Association
- Virginia Bar Association
|
|
|