Chris Witeck represents financial services entities in negotiating a wide variety of corporate transactions, including company M&A, asset purchases, and critical vendor and other third-party relationships. His clients include banks, mortgage companies and servicers, marketplace and other lenders, fintech and emerging payments providers, and other business entities in the financial services industry.
Mr. Witeck has an active financial services mergers and acquisition practice, focusing on transactions that involve regulatory risks and concerns or novel structures at the forefront of industry trends. He also represents buyers and sellers of mortgage loans and other consumer lending assets, including interests such as mortgage servicing rights. He regularly negotiates many varieties of servicing and subservicing contracts.
Mr. Witeck advises clients on outsourcing, joint venture, and bank partner agreements, particularly in the fintech and e-commerce arena, providing years of experience addressing “true lender” issues. He also advises clients on loan repurchase and indemnity matters as well as corporate governance and compliance matters.
His regulatory practice focuses on advising lenders and servicers on matters involving the Real Estate Settlement Procedures Act (RESPA), including affiliated business arrangements, portfolio retention transactions, and vendor management issues. He is also a leading counselor to loan sellers on Regulation AB requirements.
Representative transactions include assisting:
- A federal savings bank in the sale of a default mortgage servicing platform and a related agreement for the purchaser to subservice the bank’s defaulted loans
- Buyers and sellers of mortgage (both originators and servicers) and other financial services and fintech companies in stock and asset acquisitions, including fintech companies in the payments and regulatory compliance businesses
- A well-funded joint venture to structure and launch a mobile wallet and related e-commerce initiatives
- A mortgage servicer in a private-label component subservicing agreement to address a regulatory prohibition on default servicing, including related regulatory and corporate diligence
- A major Wall Street wealth management concern in a private-label mortgage origination and servicing transaction
- Buyers and sellers of mortgage loans and servicing rights, including through correspondent and other channels, with aggregate principal balances in the hundreds of billions of dollars
- Lenders in the formation of joint ventures with title insurers, real estate agents, and home builders
Before attending law school, Mr. Witeck worked at the U.S. Department of State. Mr. Witeck received his J.D. from Georgetown University and his B.A. from the University of Virginia. He is a Partner in the firm’s Washington, DC office and a member of the firm’s Executive Committee.
Valerie Hletko, Jon Langlois, Jeffrey Naimon, and Christopher Witeck spoke at the Buckley Sandler CFPB Today 2015 conference on Monday, October 26, 2015 in Washington, DC. Their panel was titled “Vendor Management in 2015.”Speaking Engagement
Buckley Sandler was a sponsor of the Mortgage Bankers Association’s Regulatory Compliance Conference which took place September 29 – October 1, 2013 in Washington, DC. Christopher Witeck spoke on the "Addressing Repurchases in the New Rep and Warrant Model" panel on September 30, which...Speaking Engagement
Christopher Witeck and Jeffrey Naimon spoke at the Mortgage Bankers Association Independent Mortgage Bankers Conference 2013 in Miami, FL. Mr. Witeck spoke at the Warehouse Lender Forum. Mr. Naimon's panel was titled “Opportunities Outside the Safe Harbor” panel and the “Countdown...Speaking Engagement
Jon Langlois, Jeffrey Naimon, and Christopher Witeck presented a webinar titled, "MBA Compliance Essentials: Vendor Management" in association with the Mortgage Bankers Association's CampusMBA program on March 20, 2013. The CFPB has made it clear through bulletins and supervision materials that it...Speaking Engagement
Buckley Sandler LLP hosted its second annual CFPB Today conference in Washington, DC October 25-26, 2015. The two-day event featured an evening of interactive roundtable discussions on CFPB trends, followed by a full day of seminars and breakout sessions. The roundtables and seminars were led by...Press Releases
Buckley Sandler chairman Andrew L. Sandler is one of eight people featured in the National Law Journal's inaugural DC Deal Makers of the Year list. Firm chairman Andrew Sandler said Buckley lawyers often serve as regulatory counsel, assisting big firms with major transactions. "Our flexibility and...In The News
As a result of last Tuesday’s election, Republicans will control the White House and both houses of Congress in 2017. It is likely there ultimately will be some significant changes affecting financial services regulation and enforcement, but they will take time to implement. The President-elect has...Articles
On August 4, the CFPB issued its long-awaited final amendments to the mortgage servicing provisions of Regulations X and Z. The Bureau had sought comment on the proposed rule in December 2014, more than 18 months ago. Spanning 900 pages, the final rule makes significant changes that will impact...Articles
On June 23, the Maryland Court of Appeals affirmed a lower court judgment holding that a non-bank entity assisting consumers obtain loans from an out-of-state bank and then repurchasing those loans days later qualifies as a “credit service business” under the Maryland Credit Services Business Act (...Articles
With evolving regulatory expectations and increased enforcement exposure, financial institutions are under more scrutiny than ever. Nowhere is this more evident than in the management and oversight of service providers. When service providers are part of an institution’s business practice,...Articles
On August 19, 2014, the CFPB issued Bulletin 2014-01 to address “potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights.” The bulletin, which is the latest in a series of CFPB regulations, statements, and guidance on this subject, replaces...Articles
Special Alert: Federal Reserve Board Guidance on Managing Outsourcing Risks Mirrors Recent OCC Guidance
On December 5, 2013, the Federal Reserve Board (FRB or the Fed) issued Supervision and Regulation Letter 13-19 , which details and attaches the Fed’s Guidance on Managing Outsourcing Risk (FRB Guidance). The FRB Guidance sets forth risks arising out of the use of service providers and the...Articles
On October 30, the OCC issued Bulletin 2013-29 to update guidance relating to third-party risk management. The Bulletin, which rescinds OCC Bulletin 2001-47 and OCC Advisory Letter 2000-9, requires banks and federal savings associations (collectively “banks”) to provide comprehensive oversight of...Articles