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With the universe of investors expanding in the mortgage markets for manufactured housing, lenders face dynamic and increasing regulatory compliance responsibilities – at both the state and federal levels. I have focused on this area for years now, both giving legal advice and consulting on related legislation. I help lenders keep up with the laws and regulations so they can focus on moving their businesses forward.
Marc J. Lifset advises financial institutions regarding consumer financial services issues, licensing, regulatory compliance, and legislative matters. He is a national authority on laws and regulations governing manufactured housing and was instrumental in changes to the titling laws in Alaska, Illinois, Iowa, Louisiana, Maryland, Mississippi, Missouri, Nebraska, New York, North Dakota, and Virginia. He represents clients throughout the United States.
Marc counsels manufactured housing lenders on chattel lending guidelines and structuring both chattel-only and land-home mortgages for manufactured homes. He also advises on manufactured housing community parks and debt collection issues, manufactured home sales and dealer licensing issues, and transactions involving manufactured housing finance – including inventory loans, lines of credit, chattel paper, secondary market transactions, and related matters.
Marc's work in the area of consumer financial services includes advising clients on construction and home improvement lending and state and federal lending law compliance. He also has extensive experience representing lenders and servicers at the New York State Department of Financial Services.
Marc's clients include Sun Communities, a publicly traded REIT.
Consumer Finance Team Represents Manufactured Housing Clients Before Uniform Law Commission
McGlinchey Stafford's Consumer Financial Services team serves multiple manufactured housing clients' interests as an observer to the Uniform Law Commission Manufactured Housing Titling Act Drafting Committee. Our team works closely with the American Bankers Association in this endeavor.
National Consumer Credit Compliance Project
For a national mortgage lender, McGlinchey handled a national consumer credit compliance project, including the creation of forms of retail installment contracts, promissory notes and security agreements, and forms for residential real estate lending. For this client, our team monitors applicable laws for eleven different lending products offered in 40 states.
Consumer Finance Team Builds Online Database for Mortgage Lender
For a national mortgage lender, our consumer financial services team supports compliance with the SAFE Act and the Dodd-Frank Consumer Protection Act throughout the country. By building an online database, our team is able to manage legal research and operational implementation. The database captures all requirements for obtaining and maintaining sales finance company, personal loan,More
Consumer Financial Services Compliance
Commercial Finance and Lending
Consumer Financial Services Litigation
53 McGlinchey Attorneys Recognized in 2023 Best Lawyers in America and Ones to Watch
McGlinchey is proud to announce that 53 of its attorneys have been recognized in the 2023 edition of The Best Lawyers in America® and Best Lawyers: Ones to Watch.
57 McGlinchey Attorneys Recognized in 2022 'Best Lawyers in America' and 'Ones to Watch'
McGlinchey Stafford is proud to announce that 57 of its attorneys have been recognized in the 2022 edition of The Best Lawyers in America® and Best Lawyers: Ones to Watch.
McGlinchey's Hotchkiss, Lipinski named to CCFL Leadership
McGlinchey Stafford is proud to announce the appointment of Lynette Hotchkiss and Kelly Lipinski, attorneys in the firm's Consumer Financial Services Compliance practice group, to the Governing Committee of the Conference on Consumer Finance Law (CCFL).
Industry News: Recent Developments Affecting Manufactured Housing
Several industry updates that affect manufactured housing either take effect October 1, 2020, or will be unveiled sometime later this month. Detailed below is a summary of recent developments.
63 McGlinchey Attorneys recognized in Best Lawyers in America® 2021
McGlinchey proudly announces that 63 attorneys have been recognized in 42 practice areas across 12 offices in the 2021 edition of The Best Lawyers in America® and the Inaugural Edition of Best Lawyers: Ones to Watch, including 47 listed by Best Lawyers, 4 designated as "Lawyers of the Year," and 16 recognized in "Ones to Watch.".
Significant Reported Cases
Marine Midland Bank v. Carroll, 471 NYS 2d 409 (Appellate Division, Third Department, 1984)
IndyMac Bank, F.S.B. v. Yano-Horoski, 2009-11392 [2d Dept 11-16-2010] 2010 NY Slip Op 08532
"Proposed ULC Manufactured Home Titling Act," 65 Consumer Finance Law Quarterly Report 3 and 4, Fall and Winter 2011
"Muddy waters: The tort of 'negligent underwriting' or 'improvident lending' in mortgage lending litigation," Consumer Financial Services Law Report Vol. 13, Issue 8, September 16, 2009
"The Right of Rescission Under Truth in Lending for Principal Dwellings in Existence at the Time of Financing," Consumer Finance Law Quarterly Report, Vol. 61 No. 1, pp.67-72, Spring 2007
"Truth in Lending Disclosures for Construction and Home Improvement Loans," 57 Consumer Finance Law Quarterly Report 4, Winter 2003
"Truth in Lending Disclosures for Construction and Home Improvement Loans," Construction Lending Reporter, Vol. 3, June 2002
"The New York Part 41 Predatory Lending Rules and Remedies," 56 Consumer Finance Law Quarterly Report 87, 2002
"The Law of DIDA Section 501," 54 Consumer Finance Law Quarterly Report Vol. 122, 2000
"Summary of the Provisions of the New York State Motor Vehicle Retail Leasing Act," CarLaw, August 1995
"Mobile Homes Legally Defined: Issues for the Mobile Home Lender to Consider," 45 Consumer Finance Law Quarterly Report Vol. 312, 1991
"Enforcing Security Interests in Personal Property in New York State," National Business Institute, 1985
Marc J. Lifset
mlifset@mcglinchey.comT(518) 432-8335F(518) 432-7290
Karen Drozdyk
kdrozdyk@mcglinchey.comT(518) 874-3409
Cornell University (J.D., 1978)
Hamilton College (B.A., cum laude, 1974)
U.S. District Court for the Eastern District of New York
U.S. District Court for the Northern District of New York
U.S. District Court for the Southern District of New York
U.S. District Court for the Western District of New York
Manufactured Housing Institute, Lifetime Achievement Award, 2020
Martindale-Hubbell™ AV Preeminent® Peer Review Rated Lawyer
Chambers USA National Consumer Financial Services Regulation (Consumer Finance Compliance), 2011–2017, 2019
The Best Lawyers in America® (Financial Services Regulation Law, Litigation - Banking & Finance), 2007–2023
Selected in 2013 as a Top Rated Lawyer in banking and finance by American Lawyer Media and Martindale-Hubbell™
American Bar Association, Consumer Financial Services Committee
American College of Consumer Financial Services Lawyers, Fellow; Member, Board of Regents
Conference on Consumer Finance Law, Governing Committee
Manufactured Housing Institute, Finance Lawyers Committee, Vice Chair 2004–2006, Chair 2007–present, Board of Governors, Financial Services Division, 2014–present
National Mortgage Bankers Association
New York State Manufactured Housing Association, Finance Division
In his free time, Marc enjoys gardening, training dogs, and reading 19th and 20th century British and American prose including Dickens, Steinbeck, Hemingway, Thackeray, and Faulkner.