Defense of Mortgage Lending Affiliates for Major Homebuilders

Mortgage Lending Affiliates of Major Homebuilders

Representation of mortgage lending affiliates for major homebuilders in defense of multiple lawsuits brought by the FDIC as Receiver for AmTrust Bank relating to alleged loan defects in connection with separate mortgage loan portfolios. Our clients were able to successfully settle the cases at mediation for a small fraction of what was being sought, well below settlements obtained by other defendants in identical cases brought across the country and below estimated costs of defense to trial.

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Philip R. Stein
Practice Group Leader, Trial & Litigation
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Experience
Defense of mortgage loan originators against claims brought throughout the country asserting over $500 million in cumulative damages. The cases were initiated by major financial institutions seeking repurchase of or indemnification for large volumes of residential mortgage loans sold before the 2008...
Experience
Representation of homebuilder captive mortgage company in litigation brought by the FDIC, demanding repurchase of or indemnification for mortgage loans sold to IndyMac Bank. The FDIC settled all loans at issue, as well as almost 2,000 other loans allegedly subject to breaches of representations and ...
Experience
Representation of mortgage company in its defense against a $270 million breach of contract and indemnification action. After defeats in similar cases in other federal and state courts, Lehman Brotherssought recourse for new lawsuits in the Southern District of New York. Over 100 companies are being...
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