Mortgage Banking

Sirote & Permutt understand the unique challenges faced by the mortgage banking industry. Today’s business climate requires legal counsel who stays current on current developments in the law, but also knowledgeable about shifts in the mortgage banking industry itself.

Sirote’s Mortgage Banking Practice Group represents regional and national mortgage banking clients in Alabama and Florida. We advise lenders and servicers in all areas of mortgage banking, including foreclosure, bankruptcy, REO closings, evictions, regulatory compliance and complex litigation. Additionally, we adhere to all Fannie Mae, Freddie Mac, VA and FHA/HUD time and fee guidelines.

Sirote & Permutt has the industry expertise of a small boutique firm with the support and resources of a full-service, multi-practice law firm.

Quality Control. The multiple steps and processes involved in any mortgage banking transaction need to occur flawlessly in order for each matter to conclude successfully. Sirote understands the necessity for precise quality execution. Our internal management system tracks daily progress on every matter, ensuring that appropriate reviews are performed. Quality control allows us to quickly and efficiently identify current or future problems.

Communication. Providing clients with the service they expect requires constant, open interaction. While much of this dialogue and collaboration consists of regular updates concerning progress on individual matters, when difficult situations arise, our team knows that meaningful, frequent communication is paramount. Sirote prides itself on effectively communicating with and accurately advising clients under all circumstances and at every level — attorneys, managers and support staff alike.

Timeliness. Each client has specified timeframes within which key events must occur. Delays or missed deadlines can prove costly. Sirote’s internal procedures ensure that deadlines are consistently met and that key events occur as scheduled. We process every client request as expeditiously as possible.

Technology. Sirote recognizes the important role technology plays in the mortgage banking industry and in serving our clients. Industry-specific computer software is the primary medium for maintaining quality control, timely communication and accurate data. A variety of third-party and Sirote proprietary software allows us to manage files, prepare legal documents and handle all aspects of account receivables and payables. Our unique workflow tracking and processing system allows Sirote to track and process thousands of files at any point in time.

In particular, Sirote is a major participant in Direct Source programs and uses LenStar, VendorScape, FIS Desktop-Process Management, FIS Desktop-Document Management, FIS Desktop-Invoice Management, IClear, LINCS and other Web-based systems. Additionally, through several national clients, Sirote works on a daily basis in MortgageServe and the MSP-Fidelity servicing platforms.

Attorneys and Support Staff. Our attorneys and legal support staff are highly specialized, skilled and attentive. The foreclosure, bankruptcy, REO closing, title curative, eviction and complex litigation practices each have their own attorneys who are focused exclusively on these areas to ensure that clients receive the maximum level of experience and attention.

Sirote attorneys are frequent speakers and panelists at mortgage industry conferences, national bar meetings, judicial conferences and attorney summits. Our legal support staff is equally focused and continually cross-trained so that clients have immediate access to knowledgeable personnel.

Trade Affiliations. Sirote has many active participants in the mortgage banking industry. We frequently serve on committees and as speakers for the USFN, MBA and other trade groups. And in every year since 2000, Sirote has been honored with the USFN Award of Excellence for our responsiveness and precision in handling mortgage banking issues for our clients.

  • USFN — America’s Mortgage Banking Attorneys — Member of the Board of Directors; Member of Legal Issues (Chair 2006-08), Commercial/Multi-Family, REO, Bankruptcy, and Marketing committees
  • American Legal & Financial Network
  • American Financial Services Association – Legal Committee
  • American Bankruptcy Institute
  • American Bar Association
  • Commercial Law League of America
  • Defense Research Institute
  • Manufactured Housing Institute — Finance Lawyer Committee
  • Mortgage Bankers Association of America -- Legal Issues Committee
  • Alabama Bar Association
  • Alabama Bar Institute
  • Alabama Defense Lawyers Association
  • Alabama Lenders Association — General Counsel
  • Mortgage Bankers Association of Alabama
  • Association of Trial Lawyers of America