Executive Director - Senior Residential Mortgage Attorney

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Morgan Stanley USA
  • 25 Apr 19

Executive Director - Senior Residential Mortgage Attorney

Company Profile
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.

Morgan Stanley Wealth Management is one of the largest retail broker-dealers and serves the needs of individuals and small and mid-sized institutional clients through a network of approximately 16,000 financial advisors located throughout the U.S.

As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

Seeking an experienced residential mortgage attorney with ten plus years of experience as a practicing attorney representing lenders in the residential mortgage business, with emphasis on providing support to the mortgage business for online and mobile expansion efforts.

This position will provide lead legal coverage for digital components and initiatives involving residential mortgages; provide guidance on complex transaction structures for wealth management client segments; review and advise on marketing activities; and interface with and advise senior business leaders on complex matters and initiatives.

Knowledgeable of the residential mortgage business whose borrowers are high net worth clients of the wealth management business and experience in the following areas:

• Collaborating with Credit Risk, Underwriting, Compliance, Operational Risk and others on business initiatives and advise on TILA, RESPA, ECOA, FCRA and Fair Lending laws as well as with other applicable laws and regulations

• Working with Compliance on policies and procedures related to the residential mortgage business, to ensure compliance with applicable laws

• Supporting loans sales, including the sale of conforming mortgages to FNMA and the sale of CRA loans, and other mortgage loans sales activities

Qualifications:

Skills Required:

• A thorough knowledge of residential mortgage consumer protection, data protection and privacy laws, including TILA, RESPA, TRID, and fair lending laws and accompanying regulations, especially the Ability-to-Repay rules, as well as laws and regulations applicable to mortgage marketing.

• Complete understanding of the regulatory framework applicable to a private bank originating residential mortgage loans subject to oversight by the OCC and CFPB. Some knowledge of the SAFE Act and NMLS registration preferred.

• Experience negotiating contracts between banks and vendors providing technology-related and financial services.

• Knowledge of title and lien priority matters and the ability to review borrowers' corporate, partnership and trust documentation and prepare loan documentation related to those matters.

• Ability to work within a dynamic business environment with fast-paced transactions and high expectations for client service.

• Familiarity with laws governing mortgage servicing issues.

• Some knowledge of wealth management business activities that involve banking products.