Solomon focuses on advising small and medium-sized financial institutions, as well as institutional and private investors that are active in the mortgage market on compliance with federal and state laws governing mortgage origination, servicing and secondary market activities. Solomon advises mortgage lenders and servicers on compliance with the requirements of government agencies and GSEs mortgage lending programs, such as HUD, FHA, Ginnie Mae, VA, RHS, USDA, Fannie Mae, Freddie Mac and the Federal Home Loan Banks. Solomon represents clients in licensing, supervisory and examination matters before federal and state regulators.
Solomon represents financial institutions in transactional matters, such as: mortgage secondary market transactions (e.g. loan purchase agreements and servicing agreements), secured commercial loans agreements, participation agreements and third-party vendor services agreements.
Solomon’s real estate practice includes representation of real estate investors and financial institutions in commercial real estate financing transactions, lease, purchase and sale of commercial real estate, as well as bulk purchase and sale of real estate portfolios.
Solomon advises small and medium-sized privately owned businesses and financial institutions on an array of business related matters including on entity formation and maintenance, entity financing, mergers and acquisitions and represents clients in commercial contract transactions.
Prior to rejoining Noonan & Lieberman, Solomon served as a Senior Attorney at the Federal Home Loan Bank of Chicago for the Mortgage Partnership Finance Program® where he provided advice on matters, such as mortgage regulatory compliance, product development and mortgage secondary market transactions. Solomon has also served as a general counsel for a mortgage company serving the Midwest. During his time at the mortgage company, Solomon gained firsthand experience of mortgage company operations including: mortgage origination, underwriting, closing and secondary market, which provides him unique understanding when advising mortgage industry clients.
Solomon is a contributing author to the Illinois Institute for Continuing Legal Education (IICLE®), and he regularly authors legal updates for the firm’s website and for MortgageCompliance.Law. Solomon also performs speaking engagements and provides training for financial institutions on regulatory compliance. Solomon is a member of the Board of Directors of the Illinois Mortgage Bankers Association (IMBA), and the Chair of the IMBA Legal Issues/Legislative Committee.
Publications and Speaking Engagements
- Co-authored Chapter 9 — Mortgage Foreclosure in Federal Court and Foreign Mortgage Foreclosure, Mortgage Foreclosure: Practice and Procedure IICLE (2021)
- Fair Lending and Redlining – IMBA Fall Regulatory Updates (2018)
- Mortgage Servicing Rules for Servicers – panel member – Chicagoland Compliance Association (CCA) Annual Conference (2018)
- The Residential Secondary Mortgage Market — Overview and Post-Crisis Developments – IICLE FLASHPOINTS (September 2016)
- Co-authored Chapter 9 — Mortgage Foreclosure in Federal Court and Foreign Mortgage Foreclosure, Mortgage Foreclosure (Illinois): Practice and Procedure IICLE (2016)
- Speaker – ALFN Education Webinar – HOT TOPIC LEGAL UPDATES – Defending the TILA Counterclaim and Affirmative Defense – October 2011
- New Tools for Combating Unfair, Deceptive and Abusive Mortgage Practices: New Amendments to Regulation Z, 21 Loy. Consumer L. Rev. 194 (2008)
- Loyola University Chicago School of Law (J.D. 2009) with Tax Certificate
- Dean’s List; CALI Award in Tax Clinic
- Staff Editor, Loyola Consumer Law Review
- Dean’s List; CALI Award in Tax Clinic
- Loyola University Chicago School of Law (LL.M. 2004) in Business Laws
- The University of Sheffield School of Law (LL.B. 1998) with Honors
- State of Illinois (2009)
- State of New York (2002)
- State of Wisconsin (2009)
- U.S. District Court, Northern District of Illinois
- U.S. District Court, Western District of Wisconsin
- Mortgage Bankers Association
- Illinois Mortgage Bankers Association
- American Bar Association
- Chicago Bar Association
- Illinois State Bar Association