Susanna K. Sedrak advises clients on issues relating to licensing, disclosures, and compliance with consumer credit lending. As Counsel in the Los Angeles office of Buckley Sandler LLP, Ms. Sedrak represents financial services industry clients, including banks, mortgage companies, mortgage servicers, and commercial lenders in federal and state regulatory and compliance matters.
Here recent work includes:
- Operating as in-house counsel to a major mortgage lender and servicer for six months, fielding all aspects of mortgage lending from origination through default servicing
- Reviewing and overhauled origination disclosures for compliance with state and federal law on behalf of a national bank operating in all 50 states and DC
- Helping build a servicing compliance database for a state-licensed mortgage servicer, covering the gamut of servicing rules and requirements in all 50 states and DC
- Drafting preemption analysis of various categories of state laws in the post Dodd-Frank era for a national bank
- Responding to state and federal regulatory exams and audits, including responding to Consumer Financial Protection Bureau (CFPB) Civil Investigative Demands and Department of Housing and Urban Development (HUD) audit letters or other matters involving the Quality Assurance Division (QAD) or Mortgagee Review Board (MRB), and helping negotiate resolutions and settlements with those state and federal regulatory entities
Ms. Sedrak also assists clients by analyzing lending and servicing practices in light of federal laws such as the Truth in Lending Act (TILA), Real Estate Settlement Procedures Act (RESPA), Equal Credit Opportunity Act (ECOA), Home Mortgage Disclosure Act (HMDA) and Fair Credit Reporting Act (FCRA), and their accompanying regulations; completing surveys on various mortgage and license-related topics, including requirements related to, fair lending , debt collection, interest on escrow, and foreign language related to Limited English Proficiency borrowers; and reviewing mortgage servicer borrower correspondence for compliance with federal and state laws.
Ms. Sedrak is the Co-Vice Chair of the Webinars & Roundtables Subcommittee of the American Bar Association's Consumer Financial Services Committee. She was a member of the of Mortgage Banking Association’s 2014 class of Future Leaders. Prior to joining Buckley Sandler, Ms. Sedrak was an Associate at Winston & Strawn.
Ms. Sedrak received her J.D. from the University of California Los Angeles School of Law in 2008 and a B.A. from the University of California at Irvine (cum laude) in 2005. Ms. Sedrak also studied Political Science and English at Pembroke College, Cambridge University in England in 2003.
Los Angeles (July 5, 2016) – Buckley Sandler LLP , a premier financial services, government enforcement, and litigation law firm has promoted Susanna Khalil to Counsel, effective July 1, 2016. “Susanna is a very important member our team who regularly delivers excellent results for clients,” said...In The News
Los Angeles (July 5, 2016) – BuckleySandler LLP , a premier financial services, government enforcement, and litigation law firm has promoted Susanna Khalil to Counsel, effective July 1, 2016. “Susanna is a very important member our team who regularly delivers excellent results for clients,” said...Press Releases
In recent years, servicing U.S. Federal Housing Administration-insured loans has become risky business. The U.S. Department of Housing and Urban Development has heightened its monitoring and enforcement, with servicers experiencing increased Quality Assurance Division (QAD) reviews, HUD Office of...Articles
Susanna Khalil and Jessica Pollet authored "Lost in Translation: Financial Services for Consumers with Limited English Proficiency," which was published May 18, 2015 in the WestLaw Journal Bank & Lender Liability. They discuss the emerging area of access to credit for people with limited...Articles
CFPB compliance examinations tend to be more adversarial and yield more severe consequences for supervised entities than the banking industry has experienced with the prudential banking regulators. The authors describe what to expect and suggest practical steps - before, during, and after the...Articles