David Roth is uniquely qualified to assist financial services clients in developing, implementing, and managing effective third-party vendor management programs (TPVMPs). As federal and state regulators continue to heighten their expectations of TPVMPs, his experience in this area is an integral component of clients’ efforts to enhance their programs to satisfy the various obligations set forth in guidance from the Office of the Comptroller of the Currency, the FDIC, the Federal Reserve Bank, and in the national servicing standards.
David’s introduction to TPVMPs came when he helped a major servicer client design and implement its first comprehensive TPVMP specifically directed to cover the client’s law firm network. His work included collaborating with outside consultants, in-house counsel, and business personnel to create evaluative tools that have since become standard in the industry. Additionally, once the program became operational, David supervised a team of lawyers tasked with performing law firm reviews throughout the United States.
Since then, David has played a similar role with multiple other clients. Indeed, aspects of programs he helped build have become integral in client submissions to governmental agencies to demonstrate compliance with applicable legal requirements. Currently, he plays a key role assisting clients in evaluating and addressing categories of risk associated with law firm vendors.
Personally, David has evaluated and managed remediation activities of more than 100 law firms and trustees in numerous states, including Arizona, Connecticut, Florida, Georgia, Indiana, Iowa, Louisiana, Maine, Michigan, Missouri, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, and Washington. He has performed both regularly scheduled law firm reviews and specialized emergency reviews designed to investigate specific issues of concern. In his capacity as program coordinator for clients, David has overseen reviews conducted by team members in all 50 states. As such, he is familiar with and has in-depth knowledge of default firms across the country.
David has spoken on TPVMP issues to both the American Legal and Financial Network and the Mortgage Bankers Association. In 2012, he co-authored one of the few articles about TPVMPs published from an attorney’s perspective. The article, entitled “Regulatory: 5 Lessons for Loan Servicer Default Firm Vendor Management,” appeared in the July 2012 issue of Inside Counsel magazine.