Nationally Known Mortgage COMPLIANCE Expert and Attorney
Nelson Locke is one of America's foremost Mortgage Compliance Experts. He or his entities have originated over 3,000 Mortgages. Mr. Locke and his staff are skilled in all aspects of conventional and agency mortgage compliance.
Over the years, Mr. Locke has assisted many borrowers with obtaining the proper mortgage product for their needs. These include FHA, VA, USDA, conventional, and private lender mortgages.
He has also assisted many seniors by arranging the correct Reverse Mortgage for them or by resolving problems caused for the family by an ill-advised Reverse Mortgage. His NMLS License # is 149450.
Reverse Mortgage Problems typically surface due to counseling, origination, or closing errors where the senior or their heirs are negatively affected. For example, not counseling or improperly counseling a non-borrowing spouse. Broker steering the senior into a less than optimal program based on broker compensation. Using a Life Estate without proper counseling and disclosure - affecting the rights of the remaindermen. Not delivering copies of the mortgage and note up front at time of application, along with the required booklets. Force placed insurance or premature foreclosure issues. Occupancy issues, foreclosure of non-borrowing spouse.
Alternatively, Lenders can find themselves under attack by borrowers with "buyers remorse". Locke can expertly review the document file and assist the Lender to quickly resolve frivolous litigation. After 3,000 reverse mortgages, he knows what constitutes a lender standard of care and fully knows the borrower's duties as well.
Issues recently handled include non-borrowing spouse foreclosures, failure to make required repairs, and improper counseling where incapacity or NBS issues were or should have been obvious to the counselor and were ignored.
He has also defended against government regulatory actions involving failure to follow regulations and the False Claims Act.
Nelson Locke is one of the Reverse Mortgage Industry's Founders, a former director of the National Association of Reverse Mortgage Lenders, a past President of the largest Mortgage Broker Association in the United States, and currently a Legal and Compliance Expert for all types of Mortgage Banking.
He can assist either side. If licensed in the client's jurisdiction we will represent the client directly. Or act as a Subject Matter Expert Witness, not giving any type of legal opinion but focusing on Industry Best Practices and how to apply the statutes and regulations. Or act as co-counsel pro hac vice under a locally licensed attorney. The choice is yours.
To discuss your situation with us call (800) 656-4584.
IMPORTANT LEGAL DISCLOSURES - This is an advertisement for Professional Services. To the extent that this website is deemed an “advertisement for state specific legal services,” Nelson Locke advertises for legal services only in California for CA state specific matters. The balance of his practice is expert consultation. No warranties can be given expressed or implied. Clients are unique and results will differ because of different facts in the analysis. This internet web site and other Locke social media are not to be construed as giving legal advice. Further, no attorney client relationship will ever exist until the client says so and an agreement exists in a signed writing. Nelson Locke provides legal services only where licensed and only provides consultative or supervised services in other jurisdictions. Nelson Locke is a Mortgage Industry Expert Witness, and provides federal agency audit preparation and defense nationwide. Nelson Locke is currently admitted to the California Bar and certain Florida, Texas, Oklahoma, Colorado, and California Federal Bars. Nelson Locke is registered with the NMLS #149450 and licensed to originate residential mortgages in Florida and Texas.The fastest way to contact Nelson Locke is to call (800) 656-4584. You can fax him at (954) 251-4923. Content Copyright 2014 Nelson A. Locke, Esq. All rights reserved.