Subprime (Nonprime) Mortgage Lending and Credit Markets
Today, financial institutions and companies of all types face a myriad of legal issues changes due to the evolving problems in the subprime mortgage lending and consumer and commercial credit markets. This disruption has affected virtually all types of commercial and consumer financial institutions—mortgage lenders and servicers, banks and thrifts, homebuilders, real estate and title companies, credit card issuers, securities and bond issuers, investment firms, hedge funds, investment funds and trusts, broker-dealers, underwriters, rating agencies, insurers—and even extends to individuals such as managers, officers and directors, and outside auditors.
Our firm includes experienced corporate attorneys and litigators from a broad range of practice areas, including mortgage banking, commercial and consumer banking, corporate finance, real estate, bankruptcy and workouts, financial markets, securities, white collar crime, and class action defense. Together, this diverse team offers the experience and skill to counsel clients throughout all types of legal scenarios relating to the disruption in the subprime credit markets.
Class Action and Individual Borrower/Consumer Litigation. Defending class action and individual lawsuits brought by borrowers or consumers against mortgage lenders and other consumer financial service firms, alleging fraud (e.g., inflated appraisals, falsified applications, etc.), unsuitable or unfair financing terms, improper disclosures, excessive or improper fees, discriminatory and predatory lending practices, and improper foreclosure practices.
Securities Litigation and Financial Markets Regulation. Defending claims brought by shareholders, or individual or institutional investors, alleging violation of federal and state securities laws in connection with investment in collateralized debt obligations or mortgage-backed securities (e.g., failure to investigate and understand investment risks, or misrepresentation or omissions of risks via public statements, SEC filings, or financial reports).
Internal and Governmental Investigation. Assisting clients with internal investigations, or in responding to governmental investigations (e.g., state attorneys general, SEC, FBI, DOJ, OTS, FTC and the Federal Reserve Board) regarding fraud or other allegedly improper practices.
Bankruptcy and Workouts. Assisting clients with restructuring, liquidation, insolvency and bankruptcy issues.
Commercial Disputes. Representing clients in commercial and contract disputes, including breaches of representations and warranties, indemnification, repurchase obligations, and investor relations.
Corporate Governance. Representing clients in connection with litigation and investigations involving alleged breaches of duties by officers and directors, D&O insurance coverage issues, and alleged white collar crime.
Compliance. Assisting clients with compliance issues, including evaluating practices to meet regulatory requirements, and monitoring state and federal regulatory and legislative developments.