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MortgagePoint ยป Your Trusted Source for Mortgage Banking and Servicing News 50 August 2024 C O U N S E L ' S C O R N E R FACING THE FORECLOSURE AND BANKRUPTCY CHALLENGES OF TODAY MortgagePoint had the opportunity to sit down with Robert S. Kahane, a foreclosure and bankruptcy attorney with more than 30 years under his belt, to discuss current compliance issues related to loan servicing process enhancements. B y E R I C C . P E C K K ahane & Associates PA is a full-service law firm based in Sunrise, Florida, that rep- resents secured and unsecured creditors and provides a full range of legal services essential to the mortgage banking industry, from foreclosure and bankruptcy representation to litigation, evictions, col- lections, loss mitigation, and REO closings. A member of the Legal League, a pro- fessional association of financial services law firms, Kahane & Associates reaches beyond the traditional legal advisor role by incorporating a business-minded approach to its practice. The Kahane & Associates team is dedicated to finding innovative ways to assist its clients in significantly reducing the costs of default servicing. The primary goal of the firm is to provide clients with the highest qual- ity legal representation and the finest in personal service in the industry. MortgagePoint had a chance to catch up with Robert S. Kahane Esq., the firm's Founder and Managing Partner, to dis- cuss recent trends in the foreclosure and bankruptcy space. Kahane has more than 30 years of experience representing insti- tutional mortgage lenders and servicers and is a recognized authority and fre- quent speaker on legal and compliance issues related to loan servicing process enhancements. Kahane is a member of the Florida Bar, Washington, D.C. Bar, and the Real Estate Property Sections of the Florida Bar. Q: What are the biggest challenges of interacting with borrowers who are undergoing bankruptcy or foreclosure proceedings? Robert S. Kahane: Interacting with borrowers in bankruptcy or facing fore- closure presents several challenges. Nota- bly, there's often significant emotional distress involved, as these situations directly impact individuals and families. Also, navigating the complex legal and financial landscape requires sensitivity and expertise to ensure compliance with legal requirements while also exploring options for resolution that benefit both parties. Effective communication is cru- cial, but can be hindered by stress and uncertainty on the part of borrowers. Balancing the need to protect the lender's interests with the obligation to treat borrowers fairly requires a delicate approach to negotiations and legal proceedings. Fostering strong communi- cation and transparency with borrowers are essential to effectively navigating the default and collection landscape. By integrating these practices, we not only mitigate operational, regulatory, and reputational risks for our clients, but also enhance loss mitigation resolutions, ultimately driving sustainable business growth because the goals of our clients are consistently achieved. Q: How did you first get your start in the industry? Robert S. Kahane: I began my career in consumer finance litigation shortly after graduating from law school. Initial- ly drawn to the intricate intersection of real estate law and financial regulations, I found my niche representing lenders, servicers, and debt buyers in matters related to lending, collections, and com- pliance. Early experiences and successes handling secured and unsecured collec- tion matters and navigating bankruptcy proceedings solidified my commitment to this specialized field. The dynamic nature of consumer finance law initially attracted me, given my background and MortgagePoint Managing Digital Editor E R I C C . P E C K has 25-plus years' experience covering the mortgage industry. He graduated from the New York Institute of Technology, where he received his B.A. in communication arts/media. After graduating, he began his professional career in New York City with Videography Magazine before landing in the mortgage finance space. Peck has edited three published books, and has served as Copy Editor for Entrepreneur.com.