b'K. Bradley Rogerson continued from page 24guitar and doing a woodworking projectHow long have you been aPretty much any private lender here and there. member of the CMA?Why didthat needs advice regarding you join the CMA? licensing, regulatory compliance and securities law issues related to raising I believe I became a memberinvestment capital to fund their loans. around 2002-2003 while still atLenders looking to form a mortgage fund Stein & Lubin.Many of my existingor that need alternatives to selling all their clients were members and as a youngloans to single lenders or under the multi-attorney in the field, it was a great way tolender exemption.learn about the private lending business beyond just the legal aspects.Knowing the business and what is on the mind ofWhat goals are you hoping to the industry has always been a big partaccomplish in 2020?of my private lending practice and how I How did you end up / start inadvise my clients in the area.this industry? To get out of this house.I am only What is your favorite thingsort of kidding.I became an associate at Stein &offered by the California Lubin LLP in San Francisco in 1999Mortgage Association?and worked with Mark Lubin whoWhat is the most challenging represented several private lenders andAsalawyerwhorepresentsthing you find in this was involved with the CMA at that time.mortgagebrokers,itistheindustry?I was trying to move my practice from aeducation CMA provides.I am commercial litigation focus to transactionalmore comfortable representing private work and after starting with Stein & Lubin, Ilenders in the CMA because more often began doing regulatory and securities workthan not it shows a commitment to fairCOVID-19aside,themost for private lenders almost immediately.Ipractices and regulatory compliance whichchallenging thing is that many of the believe the first presentation I did for themoves the industry forward rather thanrules and regulations that govern the CMA was a review of the newly enactedbackward.industry were and are not drafted with limitations for making construction loansthis industry in mind.Especially in the under the multi-lender exemption in 2003.securities context.Private lenders often I have been delivering bad news to CMAWho is your ideal / targetget caught by regulations meant to address members ever since. customer?issues in the private equity and broker-dealer world but that do not adequately consider the nuances of this business.The most challenging thing, however, is also the thing that makes it an interesting area to practice in because you are constantly figuring out how to navigate the ill-fitting rules or how to find a way to change them. What sets your company apart from others?Hanson Bridgett is a large enough law firm to give my clients the resources they need to grow their businesses but small enough to keep it cost-effective.I have over 20 years experience in representing clients in the private lending industry but when I moved continued on page 26Points of InterestSummer 2020Page 25'