Philip Bohi Email & Phone Number

Alexandria, Va, Us

Washington D.C. Metro Area

Provide subject matter expertise on consumer finance, vehicle finance, and legal and regulatory issues affecting AFSA member companiesDraft comment letters regarding regulatory agency rulemakings in coordination with association membersDraft member messages and press releases on consumer finance issuesDirect and support AFSA's compliance initiatives, including AFSA University, the Operations and Regulatory Compliance Committee, Vehicle Finance Division Board, and H.R. Networking GroupFrequent moderator of panels at AFSA conferences and ad hoc member callsProvide legal support for association initiatives including AFSA Pulse, contract matters with association vendors and partners, antitrust and intellectual property issues

Plano, Texas

Compliance Work Stream Lead for Core Receivables Replacement Project, a multi-year effort to replace critical systems and deliver updated system integration facilities Deliver system replacement compliance requirements, configuration designs and testing scenarios, perform requirement tracing, coordinating Legal Department substantive support, manage outside counsel, advise senior leaders regarding program execution risks, legal and compliance risks, system configurations, and gap analysesSupport the company’s Consumer Financial Protection Bureau readiness efforts, with particular emphasis on Service Provider risk management in the company’s Vendor Management Office, including negotiation of contract addenda with critical vendorsSubject matter expert on consumer finance matters to business, technology, legal, and enterprise compliance stakeholdersResponsible for intellectual property matter management including patent application and acquisition and maintenance of service mark registrations in coordination with Toyota Motor Corporation Responsible for Corporate Tax Department legal support focusing on sales/use tax and property tax issues and disputes relating to origination and servicing of retail installment sales contracts, vehicle leases, and ancillary productsLegal Workstream Lead for eGRC and Enterprise Data Management projects partnering extensively with Enterprise Compliance and technology stakeholdersProvide legal support relating to acquisition and maintenance of sales finance company and similar licenses, including transition tasks associated with Toyota’s consolidation of headquarters functions in Plano, Texas in 2017 Support litigation management for high-volume consumer litigation portfolio, including appearances as a corporate representative at mediations and trial

Advised bank clients regarding default servicing processes, controls and third-party relationships for compliance with OCC and FDIC guidance and provisions of the 2012 National Mortgage SettlementRestructured bank clients’ critical third-party vendor engagement contracts in compliance with OCC and FDIC guidance and provisions of the 2012 National Mortgage SettlementAdvised trade association regarding Anti-Money Laundering and Suspicious Activity Report requirements newly applicable to residential mortgage lenders and originatorsConducted permissible fee research for a national manufactured housing lender to determine compliance with state and FHA fee limitationsAdvised national mortgage lender regarding loan modification programs, agreements and related disclosuresRevised national bank client’s employment agreement for production center management staffRevised manufactured home community’s hybrid residency and financing application for compliance with federal and state law disclosure requirementsConducted legal research and drafted memoranda in support of representation of a New York mortgage banking licensee in an enforcement action brought by the New York State Banking Department relating to status of mortgage loan originator employees

Advised business clients and Legal Department peers regarding the Dodd-Frank Wall Street Reform and Consumer Protection Act, mortgage-related consumer laws, anti-predatory lending laws and regulations (e.g., HOEPA, state and local high-cost home loan laws, and related aspects of Fannie Mae's Housing Goals obligations) and the SAFE Act, as well as Fannie Mae's Anti-Predatory Lending Policy, Anti-Predatory Review Procedure, and Due Diligence Firm Validation ProcedureSupported the National Underwriting Center by performing final legal review of all repurchase rebuttals involving violations of anti-predatory lending representations and warrantiesNegotiated with Sellers regarding repurchase demands involving violations of anti-predatory lending representations and warrantiesPerformed legal review and provide anti-predatory lending approvals to certain Fannie Mae bulk acquisitionsDrafted rescission and higher-priced mortgage loan portions of Fannie Mae's comment letter regarding the Federal Reserve Board's TILA proposed rule (Docket No. R-1390)Performed final legal review of consumer law compliance issues relating to Fannie Mae pre-purchase loan level due diligence reviewsSupported Fannie Mae's Single Family Account Teams by drafting contract terms for Sellers based in Indiana, Kentucky, Ohio, West Virginia, Wisconsin, Minnesota, South Dakota, North Dakota, and IllinoisAdvised Single Family Mortgage Business and Enterprise Compliance regarding legal compliance risks

Oversaw substantive, technical, and business operations related to the creation and publication of a proprietary online mortgage compliance serviceDrafted reference materials and advised clients on mortgage banking regulatory compliance issues arising from federal, state and local laws and regulations (e.g., TILA, RESPA, FCRA, ECOA, Fair Housing Act and state and local Anti-Predatory Lending laws and regulations) and court opinions Drafted client deliverables on issues relating to mortgage industry regulatory compliance issues in all fifty statesAuthored news items for firm and private label newsletters discussing mortgage industry issues, and provided comments on behalf of the firm for inclusion in mortgage industry publicationsChaired roundtables at the Mortgage Banker's Association Legal Issues and Regulatory Compliance Conferences discussing developments in state laws pertaining to mortgage banking industry licensing issues Developed and implemented procedures for building companion database containing full text of statutory and regulatory materials discussed in our online mortgage compliance serviceDrafted and managed addition of sample disclosures to iComply for all fifty (50) states, the District of Columbia and applicable federal lawsOversaw the hiring and management of attorneys and support staffInterviewed, selected, and managed relationships with technology vendors in connection with iComply technical enhancements

Advised mortgage banker, broker and servicer clients on federal, state and local laws, regulations, and court opinions relating to the mortgage banking industry (e.g. TILA, RESPA, FCRA, ECOA, Fair Housing Act and state and local anti-predatory lending laws and regulations)Prepared summaries, reports, and comparison matrices of newly adopted state and local anti-predatory lending initiatives for national bank clientAdvised client developer of automated anti-predatory lending auditing software on issues relating to federal, state and local anti-predatory lending laws and regulationsNegotiated and drafted strategic alliance contracts between client trade association and various service providers Represented mortgage broker client in state enforcement action, securing a negotiated settlementPrepared summaries of legislative and regulatory activity for presentation at mortgage industry conferencesPerformed compliance reviews of closed loan files for large mortgage lender clientsManaged the development of an Internet-based subscription delivery system for the Lotstein Buckman Compliance Manuals

Juris Doctor

Ba, Political Science