Krista Cooley

Krista Cooley is a partner in Mayer Brown’s Washington DC office and a member of the Consumer Financial Services group. She concentrates her practice on federal regulatory enforcement and compliance issues.

She represents companies in the mortgage lending, mortgage servicing, title insurance and real estate industries in connection with administrative and regulatory compliance matters.

Krista defends clients subject to government audits, investigations and enforcement proceedings before, among others, the US Department of Housing and Urban Development (HUD), Department of Veterans Affairs (VA), Department of Agriculture (USDA), Department of Justice (DOJ), Consumer Financial Protection Bureau (CFPB) and state banking departments in cases involving the False Claims Act, the Program Fraud Civil Remedies Act, Mortgagee Review Board proceedings and Real Estate Settlement Procedures Act (RESPA) enforcement matters.

She advises clients about federal and state consumer credit and protection laws and regulations, including RESPA, FHA, VA, USDA Rural Housing Service (RHS) and Home Equity Conversion Mortgage (HECM) requirements.

Krista reviews and analyzes existing and proposed business arrangements for compliance with federal and state law requirements and drafts related agreements and disclosures. She performs regulatory compliance due diligence, with particular emphasis on FHA-insured origination and servicing requirements.

Education :

• American University Washington College of Law, JD, cum laude
• Pennsylvania State University, BA

Admissions : District of Columbia

Experience :

• Advise numerous clients on compliance with FHA servicing requirements involving default servicing, loss mitigation, pre-foreclosure sales, property preservation, interest curtailment, and insurance claim filings involving conveyance claims and claims without conveyance of title.
• Advise clients on origination, servicing and loss mitigation requirements under federal government programs including, FHA, VA, and RHS requirements.
• Represented Ginnie Mae approved issuers in responding to notices of violation involving assertions of non-compliance with Ginnie Mae requirements and guaranty agreement provisions.
• Conducted comprehensive reviews of compliance with FHA servicing requirements, including Home Equity Conversion Mortgage (HECM) servicing requirements, for FHA-approved servicers.
• Advise loan originators and servicers on regulatory compliance requirements involving reverse loans and home equity conversion mortgages.
• Assisted in representing a client in global settlement discussions with the federal and state attorneys general involving loan servicing practices.
• Regularly draft quality control plans and policies & procedures for FHA-approved lenders to ensure compliance with HUD origination and servicing requirements.