VALLEY FORGE, PA, February 23, 2010 – Paul Schieber, Jed Mayk, Glenn Yeager and Steven Adams, Shareholders of Stevens & Lee, and Kenneth Maher, Managing Director of Pinnacle Risk Services, Inc., presented the latest developments in the mortgage industry at a seminar held January 14, 2010 in King of Prussia.

Addressing an audience of more than 100 consumer lenders and mortgage banking professionals, the speakers discussed the unprecedented wave of new regulatory requirements that are reshaping the consumer mortgage industry. These included the Mortgage Disclosure Improvement Act amendments to Regulation Z of the Truth in Lending Act, HUD’s changes to Regulation X of the Real Estate Settlement Procedures Act and the Home Valuation Code of Conduct and related FHA appraisal developments. The speakers presented recent privacy and data initiatives, discussed dealing with federal and state regulators and current trends in consumer financial services litigation. A primer on mortgage banking E&O liability insurance was also presented.

ABOUT THE PRESENTERS

Paul Schieber concentrates his practice in consumer financial services and retail banking. He represents banks, thrifts, credit unions, mortgage companies, finance companies, mortgage insurance companies, universities, secondary market investors, real estate and title insurance companies, and other financial services providers. Mr. Schieber is the co-author of The Lender’s Guide to Consumer Compliance and Anti-Discrimination Laws, co-author of the six volume Pratt’s State Regulation of Second Mortgages and Home Equity Loans and is the original author of the Allregs© State Law Compliance Module.

Jed Mayk concentrates his practice in the area of state and federal regulatory compliance for the mortgage, home equity, auto, credit sale and other consumer lending programs of banks, thrifts, credit unions and licensed lenders and brokers, Mr. Mayk also advises clients on federal real estate lending and appraisal rules for depository institutions, OCC and OTS preemption, licensing of operating subsidiaries, exportation and most favored lender issues, DIDMCA/AMTPA preemption, EFTA, electronic commerce and data security, and state and federal debt collection laws.
Glenn Yeager concentrates his practice in the financial services sector, including banking, thrift and insurance law and regulation. He has more than 30 years of corporate financial services and regulatory compliance experience, of which 20 years were in-house in a large multistate, multibank holding company. Mr. Yeager advises financial institutions on measures to manage compliance and legal risks associated with applicable federal and state laws and regulations.

Steven Adams represents major financial institutions and mortgage servicers in all aspects of consumer financial services litigation, including complex foreclosure proceedings and defending financial institutions and servicers against consumer claims arising under the Truth in Lending Act, the Real Estate Settlement and Procedures Act and other federal statutes, as well as state law claims arising under various state consumer protection statutes.

Kenneth Maher has more than 30 years of industry experience in risk management consulting, insurance brokerage and claims management. He was Chief Risk Officer for one of the country’s largest financial institutions, responsible for corporate risk management, insurance, claims management, corporate security and executive protection.

ABOUT STEVENS & LEE

Among the 200 largest law firms in the nation, Stevens & Lee is part of a multidisciplinary professional services platform which also consists of a health care risk consulting business, a FINRA-licensed investment bank, a D&O and E&O insurance risk consulting business, a swap and derivative advisory business, federal and state lobbying units and a government incentives and sales and use tax consulting business.

The firm’s 240 multidisciplinary professionals represent clients throughout the Mid-Atlantic region and across the country from 15 offices in: Reading, Harrisburg, Philadelphia, Valley Forge, Lancaster, the Lehigh Valley, Scranton and Wilkes-Barre, Pennsylvania; Princeton and Cherry Hill, New Jersey; Wilmington, Delaware; New York City and Charleston, South Carolina.

ABOUT PINNACLE RISK SERVICES

Pinnacle Risk Services, Inc., is an insurance and risk management consulting firm whose specialty is in management (i.e., D&O liability) and professional liability (i.e. E&O liability). We provide consultative services to clients in the financial services, health care, manufacturing and other industries. We can also obtain offerings for D&O and E&O lines of coverage from world insurance markets.