In the wake of the U.S. foreclosure crisis, mortgage lenders and loan servicers face unprecedented scrutiny regarding the soundness and accuracy of their documentation practices. The Department of Justice, the Treasury, the Federal Housing Administration, and other government agencies have greatly intensified their investigative and enforcement actions, while a growing number of private litigants contribute to the mounting pressure against these organizations. State Attorneys General have issued demands for documents and information, acting independently and as part of a nation-wide task force to probe such practices.
Those angles of attack on the lending/services business threaten fines and penalties, loss of business licenses, and high civil damage awards.
Mortgage lenders and loan servicers in this volatile foreclosure climate seek confirmation of the prudence of their business practices, an understanding of the impact of possible enforcement actions, and legal defenses in the event of an investigation or lawsuit.
McGlinchey Stafford has organized and deployed a cross-disciplinary team of lawyers to counsel and protect the mortgage lender and loan servicer community amidst this heightened scrutiny. Our Foreclosure Law Crisis Team combines the extensive knowledge of our Banking Regulatory, White Collar Defense & Corporate Investigations, and Government Contracts practice teams, which enables us to comprehensively serve the needs of our clients in this industry.
McGlinchey Stafford’s Foreclosure Law Crisis Team comprises lawyers with decades of experience in mortgage finance and loan servicing matters. Our team has worked with a wide array of banks, public companies and loan servicers in investigations, compliance matters and litigation. Specifically, our lawyers in this practice focus on serving clients in the following areas:
- Counseling on measures to remediate foreclosure document problems and to establish and maintain adequate compliance systems;
- Conducting confidential internal investigations;
- Defending clients in federal and state governmental enforcement actions, class actions and other litigation; and
- Serving as a public policy advocate for clients before Congress and other administrative agencies.
Our team’s recent relevant experience includes:
- Representing clients in federal criminal investigations;
- Representing clients in response to inquiries by TX, FL, SC, LA and CA State Attorneys General;
- Advising clients on public disclosure, including with the SEC and statements to investors; and
- Defending clients as lead counsel, nation-wide, who have been sued based on allegations of improper documentation.
Lenders and loan servicers look to McGlinchey Stafford to help them efficiently evaluate their practices, implement necessary compliance measures, and protect them against possible state and federal enforcement actions.