Areas of Practice
- Maryland, 1980
- District of Columbia, 1981
Villanova University, J.D.
- Law Review, Articles Editor
Franklin & Marshall College, B.A., cum laude
In the News
- Dykema Lawyers to Address FHA Mortgagee Letter and Implementation Issues, CFPB Impact on the Reverse Mortgage IndustryMarch 6, 2014
- August 16 Session Qualifies for CLE CreditJuly 26, 2012
- Updated Edition Includes the Latest Regulatory Developments under the Cordray-led CFPBJune 29, 2012
- April 1, 2011American Banker
Mr. Axelson is a senior member of the firm's financial services regulatory and compliance practice. He regularly interacts with federal and state banking officials to assist Firm clients on compliance and new product development; and advises financial service providers on both federal and state law, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and their implementing regulations. He is also co-author and co-editor of the soon-to-be released Consumer Financial Services Answer Book 2014.
Mr. Axelson represents a broad range of financial institutions, brokers, lenders, loan servicers, investors and other service providers on consumer financial service and retail banking matters. His primary areas of practice include federal and state regulatory compliance with special emphasis on new product development, secured and unsecured lending, regulatory banking and e-commerce in the financial services industry.
Mr. Axelson has particular experience in reverse mortgage lending and other mortgage products, and also advises clients regarding various regulatory banking issues, specific loan transaction problems, mortgage fraud concerns, alleged violations of applicable law and regulations, and loan servicing and debt collection issues. He assists clients in defending existing loan programs against challenges by private litigants or enforcement actions by state and federal regulators. In addition, he conducts compliance audits involving detailed reviews of the forms and procedures used by lenders to assure compliance with applicable federal and state requirements, including due diligence compliance audits in connection with mergers and acquisitions.
He also handles a variety of secondary market concerns, including those affecting mortgage loan origination and servicing operations, mortgage wholesale and correspondent arrangements, and the purchase and sale of mortgages and mortgage servicing and subservicing rights. His representation involves the development of model forms and procedures, advice concerning complex, unusual or troublesome compliance and enforcement issues, and in-depth surveys, analysis, and reporting on aspects of state laws and regulation affecting large-scale, nationwide mortgage loan originators, purchasers, servicers and debt collectors.
Seminars & Speeches
- Bureau's Proposed RESPA/TILA Integrated Disclosure and the Bureau's Proposed Loan Servicing Rule, Mortgage Lending Update—Real-time Overview of Changes and DevelopmentsSeptember 13, 2012
- Consumer Financial Protection Bureau: Impact Explored LIVE Webcast, Knowledge Congress WebinarJanuary 2012
- SAFE Act Update, NRMLA Annual ConferenceOctober 24, 2011
- Preparing for Heightened Regulatory Scrutiny of Reverse Mortgages: Impact of RESPA, TILA, FFIEC Guidance, the SAFE Act, and the FTC on Compliance Efforts, ACI 2nd National Forum on Reverse Mortgage Compliance, New York, NYJuly 23, 2010
- Mortgage Modifications and Refinancings, Lorman Education Services Legal TeleconferenceApril 22, 2010
- Consumer Financial Services Answer Book 2012-13 (Co-editor and Co-author)Practising Law Institute
- "Truth in Lending Update—2011" (Co-authored)February 2012Business Lawyer
- Co-managing editor of the Consumer Financial Services Answer Book 20112011Practising Law Institute
- Author of Chapter 2—"Dodd-Frank Wall Street Reform and Consumer Protection Act," Chapter 4—"Real Estate Settlement Procedures Act," and Chapter 17—"Electronic Fund Transfer Act and Regulation E"2011Consumer Financial Services Answer Book 2011, Practising Law Institute
- "Mortgage Lending Developments: A New Federal Regulator and Mortgage Reform Under the Dodd-Frank Act" (Co-authored)February 2011Business Lawyer
- Editor of Dykema Gossett's CFPB Alerts
Memberships & Involvement
- Fellow of the American College of Consumer Financial Service Lawyers
- Former chair of the Housing Finance Subcommittee of the Consumer Financial Services Committee, American Bar Association
- Former member of the Mortgage Bankers Association of Metropolitan Washington Board of Trustees
- Former chairman of the MBA's State Legislative and Regulatory Committee, Former chairman of the MBA's Regulatory Compliance Committee's Internet Lending Subcommittee
- District of Columbia Bar Association
- Maryland Bar Association