O’Melveny’s McKeen Quoted in Law360’s Banking Regulation Article

January 02, 2013

O’Melveny & Myers LLP partner Elizabeth McKeen was quoted in Law360’s January 1, 2013, article “Banking Regulation to Watch in 2013,” on the Consumer Financial Protection Bureau’s qualified mortgage rule. According to the article, the bureau is expected to complete the qualified mortgage rule by the end of January, affecting the way borrowers can access home loans. “Anything that is not a qualified mortgage is not going to be available from a bank,” McKeen said in the article. She recommended that clear cut rules for qualified mortgages will benefit the banks if litigation arises on the quality of the mortgages they issued. “I do think that the brighter the lines can be, the more certainty you're likely to have. And that's better,” McKeen said.

McKeen is a member of O'Melveny's Financial Services Practice and resides in the Firm's Newport Beach office.