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Loren Friedman is a director, based in BDO’s New York office, with more than 10 years of experience in providing financial advisory services to entities and various constituents both inside and outside the bankruptcy process. Loren focuses on oversight and regulatory compliance in the areas of bankruptcy and distressed debt in the financial services industry.
Loren has assisted companies and government agencies in developing, implementing and testing compliance programmes, including providing consulting services to monitor and review the largest US commercial banking institutions’ compliance with the federal and state settlement terms intended to provide relief to distressed borrowers. He has reviewed financial institutions’ implementation and adherence to servicing standards and the application of loan modification policies, procedures and practices, including validation of consumer relief.
Loren led the forensic team in the settlement between the United States Trustee Program and Wells Fargo pertaining to the failure to file and the timeliness of filing payment change notices, the preparation of annual escrow analyses and the proper allocation of escrow shortage payments for borrowers in Chapter 13 bankruptcy cases. Most recently, he was monitoring the performance of Deutsche Bank and Goldman Sachs under settlements with the US Department of Justice to resolve claims resulting from the marketing, structuring, arrangement, underwriting, issuance and sale of residential mortgage-backed securities.
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