The Subprime Lending Team is designed to provide advice on operational "best practices" and compliance issues and address litigation, government investigations and other problems that have resulted from recent turbulence in the global debt market. The multi-disciplinary and geographically diverse team members have represented numerous financial institutions faced with a variety of subprime issues as well as related matters. Team members have experience advising financial institutions about issues and claims concerning federal regulation of the industry, as well as state consumer protection statutes and common law predatory lending claims in federal and state courts throughout the country. Such claims and issues have concerned alleged predatory lending practices targeting low-income and minority borrowers, "bait and switch" loan product tactics, fraudulent appraisal and other loan settlement services, inadequate loan origination disclosures, and improper loan servicing fees. Among the matters being handled by this team are:

• Class actions alleging violations of, among other things, the Truth in Lending Act, Homeowners’ Equity Protection Act, Real Estate Settlement Procedures Act, Fair Credit Reporting Act, Fair Debt Collection Practices Act, various state unfair business practices and consumer protection statutes;
• Individual borrower suits seeking to rescind or reform loans, stay foreclosure, and/or recover damages for regulatory violations and predatory lending practices;
• SEC and Attorneys General investigations concerning alleged predatory lending practices;
• Representation of secured and unsecured creditors in bankruptcy proceedings involving loan originators;
• Negotiation of disputes between loan originators and secondary market investors on indemnification obligations; and
• Litigation to rescind purchases of syndicated mortgage backed securities and enforcement of repurchase rights.

The team consists of lawyers with experience in bankruptcy, securitization, commercial and real estate litigation, securities litigation, securities enforcement, consumer regulations, civil rights laws enforcement, and federal and state government investigations.