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David Shirk is the managing member at Shirk Law (formerly LotsteinLegal) and focuses his practice on mortgage lending. He works with depository institutions, independent mortgage lenders, mortgage brokers, lead generators, software vendors, and settlement service providers. David advises clients on state and federal regulatory compliance, operational process, new business models, and licensing. He writes and reviews policies, originator compensation agreements, handles responses to regulatory exams and enforcement actions, and has developed many 50 state survey charts. David has extensive background in the practical implications of RESPA, TILA, ECOA, Fair Housing, and HMDA compliance.
David has been a legislative and regulatory policy influencer throughout his career, including:
Founding Secretary of the Oregon Association of Mortgage Brokers in 1989
Rulemaking Advisory Committee member for Oregon Mortgage Licensing in 1993
Representing the National Association of Mortgage Brokers in HUD's RESPA Negotiated Rulemaking in 1995
Serving on the Mortgage Reform Working Group in 1997-98
Serving as a member of the Federal Reserve Board's Consumer Advisory Council in 1998-2000
Participating in roundtable discussion with Elizabeth Warren on mortgage disclosure integrations 2010
As member representative on the American Association of Residential Mortgage Regulators Industry Advisory Committee 2017-present
Rulemaking Advisory Committee member for Oregon Mortgage Loan Servicing Act 2017-18
Uniform Law Commission participating observer on drafting committee for Collection and Use of Personally Identifiable Data Act 2019-present
Prior to joining LotsteinLegal in 2011, David spent 20 years in the mortgage industry serving as CEO, COO, CIO and Chief Compliance Officer. At Countrywide David was the functional architect for a next generation loan origination system. David also performed a detailed review and automation analysis of two other top 10 lenders' end-to-end loan fulfillment workflows.
Mr. Shirk was twice honored as columnist of the year by National Mortgage Broker magazine for his articles on regulatory compliance and was named National Mortgage Broker of the Year in 1995. He founded the Oregon Mortgage Brokers Association and has participated on the MBA's legal issues and regulatory compliance committee and various special sub-committees for many years.
David is a frequent speaker at industry conferences and is recognized for his practical experience combined with in depth legal, compliance and technical knowledge.
David joined the firm in 2011 and became a member in 2016, the managing member in 2019 and changed the firm name to Shirk Law from LotsteinLegal in 2020. He is admitted to the Colorado, Connecticut, District of Columbia, Idaho, Montana, New Jersey, New Mexico, Oregon, South Carolina, and Washington Bars. He holds a J.D. from the University of Oregon School of Law and an MBA from Corban University.