The collapse of the subprime lending markets and the abundance of defaults, litigation, bankruptcies and heightened governmental focus have industry participants facing a broad range of complex regulatory and transactional issues, as well as increasing numbers of investigations and civil lawsuits.
Bingham’s Subprime Task Force has the experience and depth to handle any subprime-related matter, from auction-rate securities investigations to sales of distressed assets to mortgage originator bankruptcies to Fair Credit Reporting Act litigation and more. We were one of the first law firms to litigate a subprime matter and have a deep bench of talent across all areas that touch subprime issues. Our interdisciplinary practice will work to provide innovative legal strategies for clients with exposure to the subprime market and mortgage markets in general.
Our experience dates back to the early 1990s, handling the First Alliance Mortgage litigation, one of the first subprime class actions for a major financial institution. This multidistrict litigation proceeding involved private consumer class actions filed in many states and actions by various state attorneys general, all of which we successfully resolved for our client.
Few firms bring to the subprime area such a powerful interdisciplinary combination: we blend our market-leading insolvency and restructuring practice with our sophisticated complex litigation group, our recognized securities team, and our high-profile consulting group focusing on state AG actions. Bingham’s Subprime Task Force includes more than 70 of the best lawyers in the United States practicing in the areas of financial institutions regulation and transactions, financial restructuring, civil and criminal litigation, government affairs, insurance, debt finance and securitizations, bankruptcy, securities regulation and enforcement, real estate law and litigation, and white collar defense. We represent investment banks, wholesale lenders, mortgage loan traders, underwriters, bondholders and bond trustees, as well as mortgage lending clients that may be facing bankruptcy, multi-agency regulatory scrutiny, mortgage fraud claims, attorney general investigations or other litigation. We are noted authorities on these issues; we author legal alerts, offer educational seminars on the latest subprime developments and are regularly quoted in industry publications.
We partner with industry professionals with subprime experience, including accounting, forensic, investigatory and financial advisory firms, and we can provide a thorough strategic analysis of all aspects of a situation through our varied resources.
Our Subprime Task Force has the experience to address any legal issue at any point along the subprime mortgage chronology, including:
Investigations/Advice
- Strategic advice and policy development
- Attorney general investigations
- Predatory lending/regulatory investigations
- Mortgage compliance review
- Congressional legislation advice
Finance
- Bankruptcies
- Restructuring
- Workouts
Transactions
- Distressed loan repurchase
- Sale of financial institutions
- Real estate portfolio sale
Securities
- Securities-related advice and investigations
- Shareholder and investment fund litigation
Litigation
- Fair Credit Reporting Act litigation
- White collar criminal defense
- Securities class action and derivative litigation
- Busted deal litigation
- Discrimination litigation
- Consumer class action litigation
- Insurance-related issues and litigation