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Stephen F.J.  Ornstein

Stephen F.J. Ornstein

Mr. Ornstein is a member of Sonnenschein’s Capital Markets Practice concentrating on banking and real estate law with an emphasis on federal regulation of real estate.  Mr. Ornstein regularly counsels national mortgage companies, mortgage insurers, financial institutions and others in complying with mortgage and consumer lending regulations, including: RESPA Truth-in-Lending Fair Credit Reporting Equal Credit Opportunity Fair Housing/Fair Lending National Flood Insurance Act State regulations and licensing Mr. Ornstein has worked extensively in the area of government regulation of mortgage finance, particularly with respect to FHA-insured and VA-guaranteed single-family and project mortgage loans, and secondary market issues.  He also has substantial experience in the legal issues governing federal and state bank regulation, including agency powers and procedures with respect to professional liability claims. Mr. Ornstein was formerly with the law firm of Thacher Proffitt & Wood LLP.Representative Experience  Represented several investment banking firms as issuers or underwriters in public offerings and private placements of mortgage pass-through certificates. These securitizations have employed a wide variety of credit support and tax structures, and have resulted in the issuance of a broad range of securities with simple to complex payment characteristics. Represented several of the nation's largest residential mortgage loan conduits in connection with numerous public offerings of multiple class mortgage pass-through certificates as well as servicers and insurers in connection with public and private securitizations. Education:Columbia University School of Law, Harlan Fiske Stone Scholar, J.D., 1989Brown University, magna cum laude, Phi Beta Kappa, A.B., 1986Organizations:Editorial Advisory Board of the Residential Mortgage Compliance Insider Publications(Partial list):"Federal and State Laws Impacting Lessors and Motor Vehicle Leases of Military Servicemembers," Consumer Finance Law Quarterly Report, Fall - Winter, 2008. "The New World of Student Lending Laws," Consumer Finance Law Quarterly Report, Fall - Winter, 2008. "Will RESPA Litigation Under Section 8(b) Reach More Than Fee Splits?" Consumer Finance Law Quarterly Report, Fall - Winter, 2008. "UDAP Crackdown -- A Closer Look at the Federal UDAP Analysis Underlying the New Rules," Consumer Finance Law Quarterly Report, Fall - Winter, 2008.  "UCC Article 9 Joint Review Committee: Issues in Motor Vehicle Finance," Consumer Finance Law Quarterly Report, Fall - Winter, 2008. "Overview of the Fair Debt Collection Practices Act and Other Collection Issues," Consumer Finance Law Quarterly Report, Fall - Winter, 2008. "Consumer Standards Under the Fair Debt Collection Practices Act: A Case for Regulatory Expansion," Consumer Finance Law Quarterly Report, Fall - Winter, 2008. "Recent FDCPA Decisions Impose New Requirements on State Court Collection Litigation," Consumer Finance Law Quarterly Report, Fall - Winter, 2008. "Same Song, Different Year -- Attorneys’ Fees Still a Driving Force Behind Consumer Finance Litigation," Consumer Finance Law Quarterly Report, Fall - Winter, 2008. "Emerging Issues in Debt Collection Law," Consumer Finance Law Quarterly Report, Fall - Winter, 2008. "FDCPA Update on TCPA, Time-Barred Debts, and Voice Mail Messages," Consumer Finance Law Quarterly Report, Fall - Winter, 2008.