Reid Herlihy
Reid Herlihy

Reid F. Herlihy

Associate

herlihyr@ballardspahr.com
Tel 202.661.2279
Fax 202.661.2299
Washington, DC

Reid F. Herlihy provides regulatory and transactional advice for clients on a range of issues involving state and federal consumer finance laws. Mr. Herlihy counsels mortgage companies, servicers, consumer finance companies, financial institutions, investment banks, debt collectors, and secondary-market investors on state and federal regulatory compliance issues.

Mr. Herlihy regularly assists clients with meeting state and federal licensing and approval requirements, including those related to stock and asset acquisitions. He has extensive experience with the SAFE Act and has counseled numerous mortgage companies, servicers, and third-party service providers on implementing those requirements. He also assists clients with state and federal examination issues and regulatory actions. 

Mr. Herlihy 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 frequently prepares multistate regulatory surveys and analyses on a wide range of matters concerning residential mortgage lending, brokering, and servicing, and assists companies in implementing new laws and regulations.

Mr. Herlihy is author of the "Fair Debt Collection Practices Act" chapter of Mortgage Finance Regulation Answer Book 2011-2012, published by the Practising Law Institute.

Representative Matters

  • Counseled several mortgage servicers on compliance and implementation issues under the CFPB's Mortgage Servicing Rules
  • Assisted an investment bank in the acquisition of a regional mortgage lender and subsequent nationwide expansion of business operations; obtained required approvals from state and federal regulators for the transaction; assisted the lender with regulatory and licensing issues on an ongoing basis following the transaction
  • Counseled a top-10 lender regarding foreclosure compliance issues on a nationwide scale, in connection with a federal regulatory investigation; conducted research and analysis on federal and state foreclosure requirements and related issues
  • Advised a national mortgage servicer on implementing SAFE Act requirements for its loss mitigation activities; provided analysis and prepared a multistate strategy for complying with the new requirements
  • Managed ongoing licensing and compliance work for a national mortgage lender
  • Assisted a third-party service provider with meeting new regulatory and licensing requirements under the SAFE Act; performed research and analysis regarding the applicability of the new requirements; managed the licensing process
  • Drafted regulatory compliance procedures and policies for a mortgage lender
  • Counseled a nonprofit affordable-housing provider regarding state and federal lending laws
  • Counseled a mortgage lender in connection with a regulatory enforcement action
  • Advised an Internet-based lead generator regarding licensing and other state regulatory requirements
  • Performed a compliance audit of a national mortgage lender
  • Assisted a mortgage lender in implementing an automated licensing compliance system
  • Counseled a national mortgage servicer regarding compliance with FDCPA and state debt collection requirements

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

Speaking Engagements

Panelist, "Servicing Transfers Roundtable," MISMO Fall Summit, September 23, 2014

"Complying with Federal Mortgage Lending Law," Lorman Education Services webinar, July 15, 2014

"Conflating Best Practices and the Law: Implications of the DOJ SCRA Settlement," Ballard Spahr webinar, June 19, 2014

"CFPB Servicing Rules Overview," Knowledge Coop webinar, May 29, 2014

"Beyond the Mortgage Industry: New Licensing Frontiers for the NMLS," Ballard Spahr webinar, May 15, 2014

Panelist, "The New 'Normal': Life after the Effective Date of the Mortgage Servicing Rules," National Mortgage News, 8th Annual Mortgage Servicing Conference, Dallas, April 24, 2014

Panelist, Regulatory Environment/CFPB Panel, Clayton-Green River Capital Real Estate Symposium, Salt Lake City, March 7, 2014

"Will Fessing Up Give You Brownie Points with the CFPB? Bureau Encouraging 'Responsible Conduct'," Ballard Spahr webinar, October 30, 2013

Panelist, "The CFPB's Qualified Mortgages and Ability-to-Repay Rules Update," National Association of Federal Credit Unions webinar, August 21, 2013

Panelist, "A License To Expand: NMLS Administering a Growing Number of State Licenses," Ballard Spahr webinar, June 19, 2013

Panelist, "Compliance Management Systems & CFPB Examination Readiness," 2013 Texas Mortgage Bankers Association Annual Convention, Austin, May 22, 2013

Panelist, "Staying Off the Regulatory Radar: The Role of Complaint Handling in Controlling Examination and Enforcement Risk," Ballard Spahr webinar, May 8, 2012

George Mason University School of Law (J.D. 2006)
Case Comments Editor, Federal Circuit Bar Journal

College of William & Mary (B.S. 2002)

District of Columbia

Virginia