Federal Mortgage Industry Compliance Experts - Expert Witness Services
Federal Mortgage Industry Compliance Experts - Expert Witness Services
Nelson Locke and his mortgage companies (Value Financial, Amstar, and America's Senior Financial Services) originated over $1 billion in mortgages. Mr. Locke and his staff are skilled in all aspects of conventional, reverse, and agency mortgages, private mortgages, and commercial compliance. Nelson's Mortgage Industry experience spans 34 years, including 22 years as a Mortgage Banker, and 12 years as a Mortgage Industry Compliance Attorney.
Here is objective evidence of the quality of Nelson's career. Nelson has originated Reverse Mortgage since 1994, beginning with the HFC "Checking Account" reverse mortgage look-alike (1994) and next the Fannie Mae "Home Keeper" (1996), leading to becoming a HUD-FHA HECM Loan Originator (1997); In 1997, Nelson participated in the creation of the National Reverse Mortgage Lenders Association ("NRMLA"). Nelson served on NRMLA's very first Board of Directors. He is former president of FAMP (2003-2004), the largest mortgage broker association in the United States. He is currently a federally certified legal and compliance expert for all types of mortgage banking.
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 using his best efforts to resolve problems caused for the family by an ill-advised reverse mortgage. His NMLS License # is 149450. Reverse mortgage loan 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. While results cannot be guaranteed, most issues are resolved in a positive manner for the consumer.
Alternatively, lenders can find themselves under attack by borrowers with "buyer's remorse". Locke can expertly review the document file and assist the Lender or Broker to quickly resolve frivolous litigation. After originating or auditing more than 5,000 mortgages, he and his team know what constitutes a lender standard of care and fully knows the borrower's duties as well.
In general, mortgage Issues recently handled include modification noncompliance, non-borrowing spouse foreclosures, failure to make required repairs, lender negligence, wrongful foreclosure, and improper counseling where incapacity or NBS issues were or should have been obvious to the counselor and were ignored. He has also defended client broker businesses against government regulatory actions involving failure to follow regulations, alleged fraud, and matters involving the False Claims Act.
He can assist either side. If licensed in the client's jurisdiction we may choose to 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 for counsel and the potential client to decide.
To discuss your situation with us call (800) 656-4584.
As allowed by Texas TDRPC Rule 7.04(a)(3), this is an advertisement for Professional Services provided to Mortgage Industry Participants and Law Firms only. This information is not intended for use by the general public. Attorney Nelson Locke is currently licensed by the California State Bar (Cal Bar 293842) and the Texas Board of Law Examiners (Tex Bar 24147328) and admitted to certain Florida, Texas, Oklahoma, Colorado, and California Federal Districts. To the extent that this website is deemed an “advertisement for state specific legal services,” Attorney Locke only advertises for state specific legal services in California and Texas. In other states, Attorney Locke may advertise for matters involving Federal Law such as Immigration (EOIR TT766946) or Compliance with Federal Mortgage Lending Regulations. Attorney Locke also acts as an Expert Witness as requested by licensed attorneys involved in litigation. Jon Gordon is our non-attorney National Client Services Manager for Mortgage Industry matters. Juan N. Pacheco Jr JD is our non-attorney National Manager of Immigration Services. No warranties about our work product can be given expressed or implied. Clients are unique, and results will differ because of the facts in the analysis. This internet web site and other 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. If a Trust Account is required by the Bar for your type of engagement, one will be used to protect you. Attorney Locke is also licensed by the NMLS (Safe Act 149450) and approved to originate residential mortgages in Florida and Texas. Attorney Locke’s principal office is located in Plano, Texas. Contact Attorney Locke or his staff at (800) 656-4584. Fax to ( (954) 251-4923. Copyright 2014-2025 Nelson A. Locke, Esq. All rights reserved.