Richard Andreano

Richard J. Andreano, Jr., is the Co-Practice Leader of Ballard Spahr's Mortgage Banking Group. He has devoted 30 years of practice to financial services, mortgage banking, and consumer finance law.

Rich advises banks, lenders, brokers, home builders, title companies, real estate professionals, and other settlement providers on regulatory compliance and transactional matters, Federal Housing Administration (FHA) issues, and administrative examinations, enforcement actions and investigations. He also works with litigation counsel on devising strategies for defense of class action and other lawsuits involving regulatory claims. Rich is the principal contact for the firm in its role as federal consumer regulatory counsel to the Real Estate Services Providers Council, Inc. (RESPRO).

Rich counsels settlement service providers on 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 Gramm-Leach-Bliley Act. He assists clients with preparing for and handling CFPB examinations and with a variety of regulatory issues, including issues relating to the implementation and compliance with Consumer Financial Protection Bureau mortgage rules, origination and servicing practices, loan originator and branch manager compensation, disclosures, marketing services and similar agreements, affiliated business arrangements and service arrangements. Rich previously served as an analyst for the National Association of Securities Dealers.

Rich is author of the MBA Compliance Essentials Loan Originator Compensation Rule Resource Guide and co-author of the MBA Compliance Essentials TILA RESPA Integrated Disclosure (TRID) Resource Guide. He is Editor-in-Chief of Mortgage Finance Regulation Answer Book 2011-2012, published by the Practising Law Institute; author of its chapters on the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Home Mortgage Disclosure Act, and the Real Estate Settlement Procedures Act; and co-author of its Equal Credit Opportunity Act and Truth in Lending Act chapters.

Representative Matters

Rich has counseled clients on:

  • Compliance with the TILA/RESPA Integrated Disclosure (TRID) rule, and revising policies and procedures to comply with the rule.

  • Compliance with the major revisions to the Home Mortgage Disclosure Act rule, and revising policies and procedures to comply with the rule.

  • Compliance with the federal flood insurance requirements, and revising policies and procedures to comply with the requirements, including requirements under the Biggert-Waters Flood Insurance Reform and Modernization Act of 2012, the Homeowner Flood Insurance Affordability Act of 2014 and the related rules.

  • The assessment of marketing and other arrangements based on CFPB broad interpretations of RESPA and CFPB enforcement actions, and revising business strategies and operations.

  • The assessment of loan originator and manager compensation plans based on the TILA loan originator compensation rule and other related laws.

  • The assessment of policies and procedures and business plans for implications under, and compliance with, fair lending laws.

  • Compliance with the TILA ability to repay/qualified mortgage rule, and implications of the rule.

  • The implications of the privacy and data security requirements under the Gramm-Leach-Bliley Act, Fair Credit Reporting Act and related laws on various business arrangements.

  • The assessment of compliance management systems and readiness for CFPB exams.

  • Responding to issues raised in CFPB and other governmental exams.