Jay Wright is a partner in the firm’s Banking and Financial Services and Litigation practice groups. Jay has earned his Accredited Mortgage Professional (AMP) designation through the Mortgage Bankers Association (MBA), and is one of a small number of lawyers who have achieved this status.
Jay’s practice focuses on financial services litigation and regulation, and he is actively involved in lawsuits and disputes across the country representing companies involved in a wide array of state and federal law claims. His representation includes general defense of various claims against financial institutions, mortgage companies, and other commercial entities. Many of these claims involve allegations of wrongful foreclosure proceedings or violations of the Truth in Lending Act (TILA), the Real Estate Settlement Procedures Act (RESPA), and Federal Housing Administration (FHA) regulations, as well as various deceptive trade practices claims under state law.
Jay advises some of the nation’s largest financial institutions and mortgage companies as they adapt to changes in the regulatory and judicial environments in which they operate. His regulatory practice involves helping clients in the financial services and mortgage industries comply with obligations imposed on them by the Department of Housing and Urban Development (HUD), the Department of Justice (DOJ), the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve (FRB), the Consumer Financial Protection Bureau (CFPB), and a host of state banking regulators and court systems. A significant portion of Jay’s practice is devoted to helping lenders and servicers of Home Equity Conversion Mortgages (HECMs or “reverse mortgages”) implement regulatory changes mandated by HUD, as well as interfacing directly with HUD to seek clarification about or revisions to proposed regulatory changes. As part of his general regulatory practice, Jay develops and regularly updates standardized judicial and non-judicial foreclosure documents for mortgage companies, conducts third-party vendor management legal compliance interviews, and provides due diligence of internal procedures and files being service-transferred between financial institutions and mortgage companies.
Jay also advises financial institutions on how to effectively and efficiently comply with the various Anti-Money Laundering (AML) statutes and regulations, including the Bank Secrecy Act (BSA) and Money Laundering Control Act (MLCA).
More Legal and Business Bylines From James W. Wright, Jr.
- CFPB Hosts Hearing on Appraisal Bias - (Posted On Monday, February 06, 2023)
- FHA Implements COVID-19 Property Charge Repayment Plan for HECM Borrowers - (Posted On Tuesday, January 17, 2023)
- FHA Extends Partial Waiver of Face-to-Face Meeting Requirement - (Posted On Thursday, December 29, 2022)
- 2022 Midterms and the Future of the Safe Banking Act - (Posted On Thursday, December 01, 2022)
- Editors’ Roundtable: A New Biden Doctrine? - (Posted On Monday, October 31, 2022)
- Change (May) Come at Last? Biden Announces Review of Marijuana Scheduling and Mass Pardons for Simple Marijuana Possession - (Posted On Thursday, October 06, 2022)
- Editors’ Roundtable: The Southern Cannabis Market - (Posted On Wednesday, October 05, 2022)
- HUD Releases Update to HECM Program Requirements for HECMs Due and Payable Due to Death of Borrower - (Posted On Wednesday, September 14, 2022)
- Editors’ Roundtable: When Will Marijuana Be Federally Legal and What Will That Look Like? - (Posted On Wednesday, July 27, 2022)
- Letter from the Editors: What a Long, Strange Trip It’s Been - (Posted On Friday, April 22, 2022)
The Cannabis Industry Team at Bradley Arant Boult Cummings LLP has been named a Go-To Thought Leader by the National Law Review. Over the span of 2022, the team has provided substantial insight into cannabis legalization at the state level, including updates for Alabama, North Carolina, Tennessee, and others. Regular contributing authors include (but are not limited to): Whitt Steineker, James W. Wright, Jr., Slates C. Veazey, Rachel M. LaBruyere, Elizabeth R. Hobbs, J. Hunter Robinson, and Claire Fox Hodge.
The Cannabis Industry Team at Bradley Arant Boult Cummings has been selected for a Go-To Thought Leadership Award by the National Law Review. In the past year, various authors have covered the medical cannabis industry in Alabama, including cultivation, processing, and dispensing, as well as the SAFE Banking Act as it pertains to cannabis. Regular contributors under these topics include Whitt Steineker, James W. Wright, Jr., Shelby D. Lomax, J. Hunter Robinson, and Richard W.F. Swor.