Severson and Werson

Michael Steiner is a member of Severson & Werson, representing financial institution clients (primarily banks and mortage lenders) in a wide variety of business litigation matters. His specific experience includes:

Consumer and Commercial Finance Litigation: Mr. Steiner represents financial institutions in business disputes arising from complex lending agreements, consumer protection laws and regulatory disclosure requirements. He has extensive experience defending class action claims against consumer lenders.

Creditors’ Rights Litigation: Mr. Steiner prosecutes lenders’ suits to collect loans and enforce loan agreements, including appointment of receiversm attachments, claim and delivery, real property foreclosure, and enforcement of guaranty contracts.

General Business Litigation: Mr. Steiner represents business entities in civil litigation involving tort, contract, unfair competition, and employment disputes.

Mr. Steiner joined Severson & Werson in 1983.

Recent Professional Activity:

Mr. Steiner addressed the 41st Annual Bank Counsel Seminar on the topic of "Looking at Subprime Clouds from Both Sides Now" (San Francisco, California, February 2008).

Mr. Steiner was a panelist at the California Mortgage Bankers Association, Western States Legislative, Regulatory & Compliance Conference, on the topic of "Litigation Update: Recent Developments in Class Actions: Fair Lending, TILA, Yield Spread Premiums, and Bankruptcy Fees," (Irvine, California, November 2007).

Mr. Steiner was a panelist at the California Mortgage Bankers Association at the Legislative Regulatory & Compliance Conference, on the topic of "Recent developments regarding Fair Credit and Reporting Act and Firm Offer of Credit Class Actions" (Irvine, California, November 2006).

Mr. Steiner was a panelist at the California Mortgage Bankers Association at the Legislative Regulatory & Compliance Conference, on the topic of "Litigation Developments" (Irvine, California, November 2006).

Mr. Steiner was a panelist at the California Mortgage Bankers Association at the Legislative Regulatory & Compliance Conference, on the topic of "Litigation Developments" (Irvine, California, November 2004).

Mr. Steiner addressed the CLE Class Actions Conference on the topic of "Consumer Class Actions," (San Francisco, California, February 2002).

Author, "Attorney Communications in Class Action Litigation," The Banking Law Journal, Vol. 115, No. 5 (May 1998).

Author, "Enforcing Settlements: CCP 664.6, 11 C.E.B Civil Litigation Reporter 101 (Mary 1989).

Mr. Steiner represents consumer financial services companies, and particularly mortgage banking companies, in complex litigation.

Mr. Steiner's specific experience includes:

Consumer Financial Services Class Action and Unfair Business Practices Litigation: Defended more than 100 class actions/unfair business practice cases against mortgage bankers in State and Federal Courts in California and elsewhere. These cases have run the gamut from loan origination through servicing and payoff, and have arisen from both state and federal laws.

Mortgage Banking Litigation: Representation of mortgage lenders in a wide variety of disputes, including wrongful foreclosure, TILA, elder abuse, mortgage fraud claims and loan repurchase disputes.

Consumer Finance Compliance Advice: Business counseling advice on state and federal compliance and licensing issues facing consumer lenders doing business in California.

Creditors’ Rights Litigation: Prosecution of lenders' suits to collect loans and enforce loan agreements, including appointment of receivers, attachments, claim and delivery, real property foreclosure, and enforcement of guaranty contracts.

General Business Litigation: Representation of business entities in civil litigation involving tort, contract, unfair competition, and employment disputes.

Biographical Information:

Employment History: Severson & Werson Member and Shareholder, 1992 – Present; Associate, 1983 – 1991.

Education: J.D., Stanford Law School, 1983; Topic Development Editor, Stanford Journal of International Law; B.A., Grinnell College, 1979.

Admitted to Practice: California State Courts 1983; U.S. District Courts for the Northern, Central, Eastern and Southern Districts of California; United States Court of Appeals, Ninth Circuit.

• Defense of mortgage lenders in class actions alleging both the marking up and overcharging of third party and first party loan origination fees in violation of RESPA, and California Business & Professions Code Section 17200.

• Representation of mortgage banking companies in a series of interrelated class actions involving pay off and reconveyance practices, including reconveyance fees, payoff statement fees and statutory lien releases penalties.

• Fair Credit Reporting Act “Firm Offer of Credit” Litigation. Defense of consumer lenders in national and state class actions brought in Federal Courts in California and Illinois.

• Defense of a national bank in a nationwide class action alleging that “captive” reinsurance of private mortgage insurance violates RESPA.

• Severson & Werson’s Financial Services Group won a defense verdict for a national bank in a jury trial in San Benito County. Mark D. Lonergan and Mark I. Wraight, assisted by Michael J. Steiner and Joshua E. Whitehair, obtained a judgment in favor of the bank after the close of Plaintiff’s case. Plaintiff was challenging the bank’s right to foreclose and sought millions of dollars in damages.

• Severson & Werson attorneys nominated as Northern California Super Lawyers 2011.
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