Settlement for Mortgage Company in Mortgage Loan Repurchase Litigation

Large Homebuilder
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 warranties.
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Philip R. Stein

Philip R. Stein

Partner, Litigation Practice Group Leader
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Experience
Representation of B piece and special servicer clients, handling in excess of $22 billion in new securitizations in 2013-14.
Experience
Representation of Oleta Partners, LLC, a joint venture comprised of affiliates of the LeFrak Organization and Turnberry Associates, in the successful negotiation of the long-term ground lease and complicated leasehold financing for a 185-acre brownfields redevelopment site in the City of North Miami...
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...
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