Richard Andreano
Richard Andreano

Richard J. Andreano, Jr.

Partner

andreanor@ballardspahr.com
Tel 202.661.2271
Fax 202.661.2299
Washington, DC

Richard J. Andreano, Jr., is the Practice Leader of Ballard Spahr’s Mortgage Banking Group. He has devoted more than 25 years of practice to financial services, mortgage banking, and consumer finance law.

Mr. Andreano 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 enforcement actions and investigations. He also works with litigation counsel on devising strategies for defense of class action and other lawsuits involving regulatory claims. Mr. Andreano is the principal contact for the firm in its role as federal consumer regulatory counsel to the Real Estate Services Providers Council, Inc. (RESPRO). 

Mr. Andreano 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 foreclosure crisis and the regulatory review of foreclosure and servicing practices, loan originator compensation, disclosures, servicing, the liquidation of distressed loan portfolios, affiliated business and service arrangements, and incentive arrangements. Mr. Andreano previously served as an analyst for the National Association of Securities Dealers. 

Mr. Andreano is author of the MBA Compliance Essentials Loan Originator Compensation Rule Resource Guide I™ and MBA Compliance Essentials Loan Originator Compensation Rule Resource Guide II™. 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

Mr. Andreano has counseled clients on:

  • Creation of policies and procedures to implement and comply with the CFPB RESPA/TILA Integrated Disclosures Rule
  • Interpretation of CFPB mortgage loan rules and development and implementation of policies and procedures to comply with the rules, including the Ability to Repay/Qualified Mortgage rule and Loan Originator Compensation rule
  • Implementation of federal flood insurance policies and procedures
  • Review of a servicer's compliance with an OCC Consent Order related to foreclosure practices
  • Creation, revision, and implementation of loan originator compensation policies
  • Development and operations of fee-for-services, joint venture, and consumer incentive arrangements consistent with RESPA, FHA, and other regulatory requirements 
  • Creation and implementation of policies and procedures to comply with major RESPA rule changes  
  • Creation and implementation of policies and procedures to comply with various FCRA requirements, including the risk-based pricing rules 
  • Creation and implementation of policies and procedures to comply with changes to the FHA loan insurance program 
  • Creation and implementation of policies and procedures to comply with TILA requirements added by the Mortgage Disclosure Improvement Act 
  • Creation and implementation of policies and procedures to comply with major TILA rule changes  
  • Analysis of HMDA data to give lenders the ability to respond to government, press, and community group inquiries

Professional Activities

American Bar Association

District of Columbia Bar Association

Virginia Bar Association

Recognition & Accomplishments

Named a Fellow of American College of Consumer Financial Services Lawyers

Publications

Editor-in-Chief, Mortgage Finance Regulation Answer Book 2011-2012, published by the Practising Law Institute; author of 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 the Equal Credit Opportunity Act and Truth in Lending Act chapters 

MBA Compliance Essentials Loan Originator Compensation Resource Guide™ and MBA Compliance Essentials Loan Originator Compensation Resource Guide II™, published by the Mortgage Bankers Association

"CFPB Addresses Loan Originator Compensation and Origination Fees," Real Estate Finance Journal, Winter 2013

Co-author, "The Problem with the DOJ's Case against GFI Mortgage," Law360, April 10, 2012

Co-author, "Preparing for the New Challenges of Fair Lending," Bloomberg Law Reports, February 24, 2012

“Death of the American Dream: Focus on QRM,” The Banking Law Journal, September 2011

“HUD Issues Long-Awaited Guidance on New RESPA Rules,” The Real Estate Law Journal, Winter 2010

Recent Speaking Engagements

"Qualified Mortgage and the Ability To Repay: Solutions to Implementation Issues," Dodd-Frank Update and October Research, LLC, webinar, March 26, 2014

Panelist, Integrated Mortgage Disclosure Workshop, Mortgage Bankers Association's National Technology in Mortgage Banking Conference and Expo, Los Angeles, March 21, 2014

Panelist, "First Look for MBA Members—The New RESPA-TILA Final Rule," Mortgage Bankers Association webinar, January 15, 2014

Panel moderator and speaker, "Wholesale vs. Mini-Correspondent: Compliance and Business Risks," MBA's Independent Mortgage Bankers Conference 2013, Miami, December 4-6, 2013

"Compensation Issues for Residential Mortgage Lenders, Part 1 & 2," MBA's Accounting & Financial Management Conference 2013, Boca Raton, November 20, 2013

"Preparing for a Bold New World," 2013 Iowa Bankers Association's Compliance Conference, Altoona, Iowa, November 12, 2013

"How To Comply 3: Loan Originator Compensation Rule," MBA's Regulatory Compliance Conference, Washington, D.C., September 30, 2013

"Ask the Experts Workshop 2: CFPB Loan Originator Compensation Rule," MBA's Regulatory Compliance Conference, Washington, D.C., September 29, 2013

"Dodd Frank Is Almost Here! Readying Your Companies for the QM and QRM Standards" and "How To Prepare Your ABAs for the 3% QM 'Points and Fees' Cap," Real Estate Services Providers Council, Inc. (RESPRO), Nashville, September 19, 2013

"Limiting Your Exposure to TILA Rescission Demands," Ballard Spahr webinar, August 13, 2013

Panelist, "QM Math—Securing Your Safe Harbor," Inside Mortgage Finance webinar, August 1, 2013

"Mortgage Brokerage ABAs and the Latest News," RESPRO Webinar Series: Readying Plan B: How To Prepare Your ABAs for the 3% QM Cap, July 10, 2013

"The Pros and Cons of Your 'Plan B' Options," RESPRO Webinar Series: Readying Plan B: How To Prepare Your ABAs for the 3% QM Cap, June 26, 2013

"The Essentials to Getting Started," RESPRO Webinar Series: Readying Plan B: How To Prepare Your ABAs for the 3% QM Cap, June 19, 2013

Panelist, "How QM, QRM and Other Federal Regulations are Impacting Business," National Settlement Services Summit, Cleveland, June 11, 2013

"Regulatory and Litigation Challenges to Lender-Placed Insurance," Ballard Spahr webinar, May 29, 2013

Panelist, "New CFPB Loan Originator Compensation Rule and Other LO Requirements," MBA Legal Issues and Regulatory Compliance Conference, Boca Raton, May 21, 2013

Panelist, "Deep Dive Workshop 1: CFPB Loan Originator Compensation Rule," MBA Legal Issues and Regulatory Compliance Conference, Boca Raton, May 19, 2013

Panelist, "MBA Compliance Essentials Loan Originator Compensation Webinar™," April 9, 2013

"HUD's FHA 'Discriminatory Effects' Final Rule – What It Means for Fair Lending Litigation and Enforcement," Ballard Spahr webinar, March 27, 2013

"How Will the Qualified Mortgage and Ability To Repay Rules Impact Community Lenders?" The Bank Safety and Soundness Advisor webinar, March 26, 2013

"An Overview of the New Qualified Mortgage Regulation" and "RESPA Reform Is Back! A Look Ahead to the CFPB's 2013 RESPA/TILA Integration Rule," RESPRO Annual Conference, Washington, D.C., March 14, 2013

CFPB Panel, 30th Annual Regional Conference of Mortgage Bankers Associations, Atlantic City, March 13, 2013

"Understanding Mortgage Loan Originator Compensation," American Bankers Association Telephone Briefing, March 12, 2013

Panelist, "LO Compensation: The New Rules," Inside Mortgage Finance webinar, February 28, 2013

"Dodd-Frank Webinar Series Part 3: Ability To Repay," October Research LLC webinar, February 14, 2013

"The Ability-To-Repay/QM Rule—Important Regulatory and Litigation Considerations," Ballard Spahr webinar, February 5, 2013 

Panelist, "The Impact of the D.C. Circuit Court NLRB Ruling on the CFPB," Ballard Spahr webinar, February 4, 2013

"Top 10 Takeaways from the CFPB's Ability-To-Repay/QM, Servicing, and Loan Originator Compensation Rules," Ballard Spahr webinar, January 30, 2013

Panelist, "The CFPB Loan Officer Compensation Rule—A First Look for MBA Members," Mortgage Bankers Association Audio Program, January 29, 2013

"Happy Anniversary Director Cordray: A Look Back at the Highlights of the CFPB Director's First Year and What To Expect During 2013," Ballard Spahr webinar, January 9, 2013

"Advertising Dos and Don'ts for Mortgage Lenders and Brokers," Ballard Spahr webinar, December 6, 2012

Panelist, "Regulatory Roundup," Mortgage Bankers Association Annual Convention & Expo, Chicago, October 23, 2012

Panelist, "Brave New World: The CFPB's Proposed Integrated Mortgage Loan Disclosures and Rules," Ballard Spahr webinar, October 18, 2012 

Panelist, "Fair Lending Lessons from the DOJ's Settlement with GFI," Ballard Spahr webinar, October 10, 2012

Panelist, "LO Compensation & Loan Fees: What You Need to Know About the CFPB's New Proposal," Inside Mortgage Finance webinar, October 9, 2012

Panelist, "Loan Originator Compensation Round 2: The CFPB's Proposed Loan Originator Compensation and Qualification Rules," Ballard Spahr webinar, October 8, 2012

Panelist, "The New 'Know Before You Owe' Proposal – RESPA-TILA Integration Forms and Rules," Mortgage Bankers Association Regulatory Compliance Conference, Washington, D.C., October 1, 2012

Panelist, "Adapting to a New Regulatory and Enforcement Paradigm: The Ongoing Impact of Dodd-Frank and the Emergence of the CFPB," ACI 9th National Forum on Residential Mortgage Litigation & Regulatory Enforcement, Dallas, September 27, 2012

Panelist, "The Evolution of Mortgage Servicing: How the CFPB’s Proposed Servicing Rules Will Affect the Industry," Ballard Spahr webinar, September 6, 2012  

Panelist, "CFPB and Experts Discuss TILA/RESPA Integration," Women in Housing Finance program, Washington, D.C., September 5, 2012

Panelist, "The New Age of The Whistleblower," October Research webinar, August 23, 2012

Panelist, "RESPA & TILA: Expert Look at the Proposed Rule," Mortgage Bankers Association Online Workshop, August 13, 2012

Panelist, "Consumer Financial Protection Bureau's Supervision of Loan Originators," October Research webinar, July 26, 2012

Panelist, "The One-Year Anniversary of the CFPB: A Look Back and a Look Forward," Ballard Spahr webinar, July 23, 2012

Panelist, "Urgent Action Needed: Last-Minute Guidance on Meeting Your AML/BSA Compliance Obligations," Ballard Spahr webinar, July 11, 2012

"Limiting Upfront Points and Fees: New Mortgage Loan Origination Standards," Inside Mortgage Finance webinar, June 28, 2012

Panelist, "The Fate of Mortgage Fee Mark-Ups: After Freeman v. Quicken Loans," Ballard Spahr webinar, June 18, 2012

Planning Chair, "Supreme Court in Freeman v. Quicken Loans: What It Means for the Residential Mortgage and Settlement Service Industries," ALI-ABA webcast, June 15, 2012

Panelist, "Current Compliance Issues In Mortgage Origination," American Bankers Association's Regulatory Compliance 2012, Lake Buena Vista, Fla., June 10-13, 2012

Panelist, "Regulatory Panel 4: New Challenges in Loan Originator Compensation Requirements" and "Regulatory Panel 1: Deep Dive – Ability To Repay/QM Requirements," Mortgage Bankers Association Legal Issues and Regulatory Compliance Conference, May 23, 2012, and May 21, 2012, respectively

Panelist, "How To Comply with the New FinCEN Requirements, Part III, SARs from A to Z," Ballard Spahr webinar, May 2, 2012

Panelist, "Beyond the Numbers: The Impact to the Industry of the Multistate/National Mortgage Settlement, Part III, Enforcement Actions and Litigation: FHA, AGs, CFPB and Beyond," Ballard Spahr webinar, April 24, 2012

Panelist, "The Way Forward – Fair Lending and Disparate Impact Analysis after the Dismissal of Magner v. Gallagher," Ballard Spahr webinar, April 19, 2012

Panelist, "CFPB Exams for Mortgage Companies," Ballard Spahr webinar, April 18, 2012

Panelist, "Beyond the Numbers: The Impact to the Industry of the Multistate/National Mortgage Settlement, Part II, Data, Documentation and Enhanced Consumer Interaction: The Challenges of Implementing the New Servicing Standards," Ballard Spahr webinar, April 11, 2012

Panelist, "Beyond the Numbers: The Impact to the Industry of the Multistate/National Mortgage Settlement, Part I, Identifying and Prioritizing the New Servicing Standards," Ballard Spahr webinar, April 4, 2012

"Loan Servicing: Complying with the Multitude of Regulations and Minimizing Risk through Proper Procedures and Loss Mitigation Strategies in Litigation," ACI’s 8th National Residential Mortgage Litigation & Regulation Enforcement Conference, Washington, D.C., March 29, 2012

"Dissecting the Landmark Foreclosure Settlement—What Does it Mean for the Mortgage Industry?" Inside Mortgage Finance webinar, March 27, 2012

"Anti-Money Laundering Program: New Challenges for Nonbank Mortgage Lenders and Originators," Practising Law Institute webcast, March 21, 2012

Panelist, "What Does the Multistate/National Settlement Mean to the Mortgage Industry?" Ballard Spahr webinar, March 6, 2012

“CFPB Appointment Implications for Non-Bank Mortgages,” AllRegs webinar, February 15, 2012

“Mortgage Lending Update: Pending and Emerging Regulatory Issues,” American Bankers Association Telephone Briefing, January 31, 2012

“Billing Errors and Qualified Written Requests—Traps for the Unwary?” Ballard Spahr webinar, December 16, 2011

“Latest Mortgage Hurdles: State LO Comp Exams and Call Reports,” Inside Mortgage Finance Publications webinar, November 30, 2011

“The Impact of Loan Officer Compensation Rules and Licensing,” MBA Annual Convention & Expo, Chicago, October 10, 2011 

“Dodd-Frank Mortgage Reform Update,” Practising Law Institute Audio Briefing, October 4, 2011

“Loan Officer Compensation Updates and War Stories,” National Mortgage News Regulatory Reform Conference, Washington, D.C., September 20, 2011

“The Changing Regulatory Landscape: The New Bureau of Consumer Financial Protection and its Impact on Lender and Settlement Agent Practices,” California Land Title Association Annual Convention, May 23, 2011

“New Challenges in Loan Originator Compensation,” MBA Legal Issues and Regulatory Compliance Conference, May 16-18, 2011

Presenter at MBA National Technology in Mortgage Banking Conference and Expo: Regulatory Deep Dive, March 28, 2011

Participant, “Loan Originator Compensation: What We Know Just Seven Days Ahead of Compliance,” Campus MBA Online Workshop, March 24, 2011

Presenter at Loan Originator Compensation, New Mexico Mortgage Lenders Association—MBA Workshop, February 19, 2011

Presenter at Loan Originator Compensation, Colorado Mortgage Lenders Association, February 9, 2011

Presenter at Loan Originator Compensation, Mortgage Bankers Association of St. Louis, February 8, 2011

“Loan Originator Compensation: The New Rules,” Inside Mortgage Finance Webinar, January 27, 2011

“Analysis of the Federal Reserve’s January 20 Clarifications to the Loan Originator Compensation Rule,” MBA’s Loan Originator Compensation Workshop, Orlando, January 26, 2011

“The Fed’s New Loan Originator Compensation Rules and Dodd-Frank Loan Originator Compensation Provisions,” MBA’s Loan Originator Compensation Workshop, Arlington, Va., December 7, 2010

“The Fed’s New Loan Originator Compensation Rules and Dodd-Frank Loan Originator Compensation Provisions,” MBA’s Loan Originator Compensation Workshop, Denver, November 10, 2010

“Loan Originator Compensation and Financial Reform,” Mortgage Bankers Association of Pennsylvania Keystone Conference, Gettysburg, Pa., November 9, 2010

“Special Session on New Loan Originator and Anti-Steering Restrictions,” “Profitably Working the RESPA Changes into Your Business,” MBA Annual Convention, Atlanta, October 24-25, 2010

“Breaking Changes to Fair Labor Standards Act,” American Land Title Association Annual Convention, San Diego, October 15, 2010

“Financial Reform,” Alabama Mortgage Bankers Association, Birmingham, Ala., October 1, 2010

“Complying With New Mortgage Origination Rules—TILA, HOEPA and MDIA Rules,” MBA’s Regulatory Compliance Conference 2010, Washington, D.C., September 27, 2010

“Figuring out FinReg: How Reform Will Shape the New Marketplace,” The Five Star Default Servicing Conference, Dallas, September 20, 2010

“Regulatory Reform – Loan Officer Compensation and Licensing,” MBA Human Resources Roundtable, Dallas, September 16, 2010

“Financial Reform,” St. Louis Mortgage Bankers Association, St. Louis, September 15, 2010

“Truth in Lending Act Developments,” Montgomery County Bar Association—Real Estate Section, Potomac, Md., September 14, 2010

Presenter at CampusMBA RESPA Live Online Monthly Workshop, September 8, 2010

“Breaking Changes to the Fair Labor Standards Act: How These Changes Impact Loan Originators & Current Business Model,” AllRegs Audio Course, July 15, 2010

Presenter at CampusMBA RESPA Live Online Monthly Workshop, July 7, 2010

“Emerging Legal Developments,” National Compliance Summit 2010, Cleveland, June 16, 2010

“RESPA Compliance – Getting it Right,” American Bankers Association Telephone Briefing, June 2, 2010

“Breaking Changes to the Fair Labor Standards Act: How These Changes Impact Loan Originators & Current Business Model,” Audio Course, May 26, 2010

“Deep Dive, Challenges Presented by the new RESPA Rule,” MBA Legal Issues and Regulatory Compliance Conference, Coronado, Calif., May 3-4, 2010

“Attendant Issues and the Full RESPA Recap, Part 4,” Campus MBA RESPA Live Online Series, April 29, 2010

“General Session: Legislative and Regulatory Update,” MBA National Fraud Issues Conference, Chicago, April 26, 2010

“HUD-1 Deep Dive Part 3,” CampusMBA RESPA Live Online Series, April 15, 2010

“Good Faith Estimate Deep Dive Part 2,” CampusMBA RESPA Live Online Series, April 8, 2010

“RESPA Overview Part 1” CampusMBA RESPA Live Online Series, April 1, 2010

George Washington University Law School (J.D. 1983, with honors)

State University of New York at Oneonta (B.A. 1980, with honors)

District of Columbia

Virginia