– Arizona mortgage responsible individual Carolyn Goldman is an attorney in Arizona that represents mortgage companies, banks and other businesses in regulatory compliance, licensing and litigation. One of the services she has provided for the past twenty years is acting as an “Arizona Responsible Individual.”

What sets Carolyn Goldman’s practice apart from her competitors is that she actual gives legal advice in association with the function of advizing mortgage brokers in connection with the role of being an Arizona mortgage responsible individual.

In order for a mortgage business to obtain a license in Arizona, it must first retain an Arizona Responsible Individual. The mortgage business must continue to employ a Responsible Individual during the time it maintains the mortgage license. The Responsible Individual acts as the mortage company’s representative with the Arizona Department of Financial Institutions (“AZDFI”), the Arizona mortgage regulator. The Responsible Individual must be a person and not an entity. The person must be a bona fide Arizona resident and have certain experience in the mortgage industry and an acceptable background and credit history.

The AZDFI is charged with enforcing the statutes and regulations which govern the Responsible Individual function. If these laws and rules are not followed, the AZDFI can issue civil money penalties and/or a cease and desist order. Therefore, the person the mortgage company retains as its Responsible Individual is very important.

Keep in mind, the Responsible Individual must be knowledgeable not just about the applicable Arizona laws and rules but also the federal Truth in Lending statutes and Regulation Z, and the Real Estate Settlement Procedures Act (RESPA) and Regulation X which of course includes the “TRID/Know Before You Owe Rule.” The Responsible Individual must also be privy to the company’s sensitive financial data such as payroll records, bank account records, financial statements, tax returns, the general ledger, personnel files and loan files. Therefore, the person selected must be knowledgeable, competent and trustworthy regarding these matters.

Carolyn Goldman was appointed by the Superintendent of the AZDFI to the mortgage broker license testing committee and, along with the CSBS (Conference of State Bank Supervisors) to the loan originator license testing committee and her law firm
was appointed to the AARMR Advisory Council (American Association of Residential Mortgage Regulators)

Some of Carolyn Goldman’s credentials and past accomplishments include: 1.) Chair of the Real Property Section of the State Bar of Arizona (2016 and 2017) and currently serves on the Executive Committee, 2.) Mortgage Bankers Association, Member of the Legal Issues and Regulatory Compliance Committee and State Legistative Committee, 3.) Consumer Financial Services Committee of the Business Law Section of the American Bar Association, Member, 4.) Scottsdale Bar Association, Past President and Member of the Board of Directors and 5.) Arizona Mortgage Lenders Association, Member.

Carolyn’s further credentials as a presenter and in education include:
The Dodd-Frank Act and the Regulation of Residential Mortgage Financing
May, 2015 – Real Property Section of the State Bar of Arizona
The Dodd-Frank Act and the Creation of the CFPB: Heightened Enforcement of New and Existing Laws Affecting the Real Estate Industry
June, 2015 – State Bar of Arizona – State Bar Convention
The U.S. Supreme Court Decision in Texas Dept. of Housing v. The Inclusive Communities Project, Claims for “Disparate Impact” and the Fair Housing Act — How this Decision Impacts your Developer, Homebuilder, Lender, Title Company, Landlord and Municipality Clients
October, 2015 – Chairperson – Advanced Continuing Legal Education – Real Property Section of the State Bar of Arizona
The TRID Rule
May, 2016 – Real Property Section of the State Bar of Arizona
The Arizona Anti-Deficiency Laws
November, 2017 – Chairperson and Presenter – State Bar of Arizona
RESPA and Recent CFPB Enforcement Actions — PHH Corporation, Prospect Mortgage, LLC and Zillow
November, 2017 – State Bar of Arizona
AZDFI Examinations
November, 2017 – Phoenix Compliance Group

In case your mortgage company has been considering entering the Arizona market, Carolyn Goldman would like to provide you with video tour of some beautiful residential areas where she has her law firm and Responsible Individual offices in Scottsdale, Arizona and Fountain Hills, Arizona. You will see the new construction which is occurring in both spec and custom homes and in subdivisions. Scottsdale and Fountain Hills are located in Maricopa County. According to recent reports from the United States Census Bureau, Maricopa County, Arizona has had the greatest increase in population in the entire country during 2016 through 2017. If you are interested in becoming license


By admin

Leave a Reply

Your email address will not be published. Required fields are marked *