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.
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