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MortgagePoint ยป Your Trusted Source for Mortgage Banking and Servicing News 52 August 2024 C O U N S E L ' S C O R N E R degree in economics. It offers a blend of regulatory challenges, finance complex litigation, and opportunities to advocate for clients facing significant financial implications. As a legal and business strategist, I saw an opportunity to address an unmet need, helping clients navigate the evolving regulatory landscape in an area critical to lenders, servicers, inves- tors, and debt buyers. Q: What are the trends you see at play in the bankruptcy sector right now? Robert S. Kahane: The post-COVID-19 inflationary cycle, driven largely by increased medical costs, credit card debt, and housing-related costs, has caused an uptick in consumer bankruptcy fil- ings, particularly Chapter 7 filings. Court-referred loss mitigation me- diations, as well as cramdowns and lien strips, are declining in number due to the general appreciation of property values in Florida. Sub Chapter V (Chapter 11) filings have been on an upswing since COVID-19, especially for debtors with multiple real estate assets though the eligibility limits were recently decreased due to a "sunset" provision effective June 21, 2024, which may impact on this trend. Lastly, there has been a noticeable trend towards more borrower-friendly interpretations of bankruptcy laws, emphasizing consumer protections and avenues for debt restructuring. Courts are increasingly scrutinizing lender and servicer practices, particularly con- cerning foreclosure proceedings, which necessitates a proactive approach to compliance and litigation strategy. Q: How has your firm navigated opportunities to evolve and streamline processes in the current marketplace? Robert S. Kahane: Leveraging and deploying state-of-the-art technology has been a cornerstone of the firm's business philosophy. Technology serves as a critical tool to enhance efficiencies, service, and performance, while minimizing operation- al, reputational, and regulatory risk. The firm's proprietary case manage- ment system is singularly the most com- prehensive, scalable default case man- agement platform available. Additionally, we continuously invest in professional development to ensure our team remains at the forefront of legal developments and best practices. The industry tenure of the firm's attorneys and staff is truly unrivaled, with the firm's 11 attorneys averaging 24 years of practice and paralegals averag- ing 21 years of industry experience. No other firm in Florida can come close to the technology our firm deploys and experience level of the firm's team that took Kahane & Associates more than 20 years to build. Q: What tools do you feel any legal expert needs to survive and thrive in today's marketplace? Robert S. Kahane: Adaptability is cru- cial in today's consumer finance litigation landscape. A strong foundation in both legal expertise and industry knowledge is essential. Additionally, leveraging technology to enhance efficiency and maintain compliance, while delivering exceptional client service is non-negotia- ble. Effective communication skills and a proactive approach to problem-solving are also key to navigating the complexi- ties of the consumer finance industry. Q: What advice would you give to any legal professionals looking to break into the foreclosure compliance space today? Robert S. Kahane: I would advise aspiring professionals to gain a solid understanding of both the legal frame- works and industry practices governing mortgage lending and foreclosure. Building relationships with key stake- holders, such as lenders, regulators, and consumer advocacy groups, can provide invaluable insights. Our firm leverages and deploys state-of-the-art technology to navigate opportunities and challenges. Our business philosophy is based on the premise that strategic investments in tal- ent and technology are the cornerstones of success for our clients and our firm. Q: Are there any current major legal cases that could have a significant impact on the industry? Robert S. Kahane: Several pending cases are poised to impact mortgage banking law if the lender/servicer does not prevail, particularly those addressing the interpretation of consumer protec- tion statutes and lender liability in fore- closure proceedings. These cases could potentially impact industry standards and influence future regulatory develop- ments. Q: What benefits of Legal League membership would you highlight as reasons to join? Robert S. Kahane: Membership in Legal League provides unparalleled networking opportunities with industry peers, access to innovative resources on regulatory compliance, and participation in thought leadership forums that shape industry practices. It is a vital platform for staying informed, influencing policy, and enhancing professional development in the mortgage banking sector. Q: What would you chalk up as your greatest professional accomplishment to date? Robert S. Kahane: My greatest profes- sional accomplishment has been success- fully leading significant operational pro- cess management changes for the firm's national, regional, and Florida-based representative clients. These changes not only safeguarded client interests, but also minimized risk, while effecting notable efficiencies which afforded our clients the opportunity to realize significant reductions in the servicing and holding costs of their respective default portfoli- os. In addition, I am proud of our firm's consistent and ongoing investment in professional development, training, and cutting-edge technology. The ROI is exciting and fulfilling as our lawyers are truly best-of-class in the industry.