Experience
Please follow the links provided for our representative experience in:
Consumer Financial Services Litigation and Regulatory Compliance
We have substantial experience defending financial institutions against claims arising from the “alphabet soup” of federal consumer lending laws – including the FCRA, FDCPA, TILA, RESPA, HOEPA, ECOA, FACTA, FHA, HMDA, and UDAP – and state consumer protection statutes. In addition, we help our clients navigate the constantly evolving federal and state laws and regulations that govern banks and other financial institutions, including Dodd–Frank and rules issued by the CFPB. We also represent our clients before federal and state regulators, such as the FDIC, OCC, OTS, and state attorneys general.
- Served as independent legal counsel in connection with four financial institutions subject to the Independent Foreclosure Review mandated by consent orders with the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve Bank. We were the only law firm to have been approved by both the OCC and the FRB to act as independent counsel to an independent consultant for purposes of the Independent Foreclosure Review for four separate servicers.
- Represented Wells Fargo in consumer litigations in North Carolina and West Virginia regarding predatory lending, predatory servicing, wrongful foreclosure, TILA, and FCRA claims.
- Represented JPMorgan Chase and Chase Home Finance in consumer litigations, including litigation related to defective affidavits or other sworn documents filed in foreclosure proceedings, FCRA matters, credit card fraud matters, FDCPA and state debt collection practices matters, and UDTP claims.
- Represented Capital One Bank in a consumer class action involving deceptive online marketing practices involving mortgage loan products.
- Represented Check Into Cash in a consumer class action alleging violations of the North Carolina Consumer Finance Act and the North Carolina UDTPA statutes in connection with the deferred presentment industry.
- Represented Fay Servicing LLC in nationwide consumer litigation involving wrongful foreclosure, RESPA, FDCPA, FCRA, unfair competition, and other statutory and common law claims in California, Oregon, Kentucky, Pennsylvania, and Maryland.
- Represented Select Portfolio Servicing in a class action under the FDCPA resulting in the granting of a motion for summary judgment.
- Represented James B. Nutter & Co. in nationwide consumer litigation involving HECM loans or reverse mortgages in California, Idaho, Puerto Rico, and Hawaii.
- Represented Seneca Mortgage in consumer litigation in Nevada involving claims brought under the FCRA.
- Represented multiple banks in consumer litigation regarding checking account overdraft fees.
- Represented PHH Home Loans d/b/a First Capital Mortgage in consumer litigation involving its role as loan broker.
- Represented Key Health Medical Solutions Inc. in a consumer class action in North Carolina involving claims arising out of the alleged financing of medical services.
- Represented American General Finance (n/k/a OneMain Financial) in consumer litigation matters in North Carolina and West Virginia involving claims for breach of fiduciary duty, FCRA and TILA violations, usury, and RICO.
- Represented CitiMortgage in consumer litigation involving fraud and UDAP claims.
- Represented Vanderbilt Mortgage & Finance in consumer litigation involving improper collections/servicing violations and FDCPA claims.
- Represented SunTrust Mortgage in consumer litigation involving ECOA claims.
- Defended Fidelity National Title Insurance Co., Chicago Title Insurance Co., and Commonwealth Land Title Insurance Co. against class RICO claims related to an alleged scheme to defraud title agents and prevent rate discounts.
- Represented Lender Processing Services Inc. (later ServiceLink LLC) in class actions defending RESPA Section 8 and RICO claims related to residential mortgage closing practices.
- Defended First Multiple Listing Service Inc. against antitrust price-fixing allegations and a class challenge to the rebate pricing structure under a novel application of RESPA Section 8’s anti-kickback and split fee rules.
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Commercial Lending Enforcement Litigation and Workouts
We handle contentious, complex real estate finance litigation on behalf of investment banks and other financial institutions. We often represent senior lenders in post-default workouts and foreclosure and guaranty litigation, including real property receiverships. We have also advised some of the largest financial institutions and special servicers in connection with commercial loan workouts.
- Represented Bank of America N.A. in the foreclosure of acquisition, building, and project loan mortgages of $48 million secured by real property in New York City. In an apparent first of its kind, we obtained the appointment of a temporary receiver to complete the gut renovation of the property. Following summary judgment, we advised Bank of America in the borrower’s subsequent bankruptcy and in connection with takeout financing.
- Represented Morgan Stanley and Capital Trust as collateral manager to Morgan Stanley 2007-XLC1, a collateralized debt obligation, in a foreclosure proceeding for a $15 million mortgage on a development parcel in Hawaii.
- Represented StabFund (USA) Inc. in an action to foreclose the $29 million loan secured by property in New York City and to enforce related guaranties against a foreign national. Represented StabFund (USA) Inc. and Garrison Investment Group, as senior participants under the same mortgage loan, in a related action filed by the junior participant in New York state court in connection with StabFund’s sale of senior participation interest to Garrison. Represented CIM Group, as successor to StabFund and Garrison, in an action to enforce a non-recourse payment guaranty based on the sponsor’s bankruptcy filing just before the foreclosure sale. Represented CIM in the borrower’s subsequent bankruptcy and in connection with takeout financing.
- Represented Amalgamated Bank in a commercial loan foreclosure on multifamily properties in the Bronx, New York, including the appointment of a temporary receiver.
- Represented Prudential Securities in lawsuits against borrowers and guarantors in 10 states arising from a $200 million portfolio of business value loans, franchise loans, and leasehold mortgage loans secured by quick service and casual restaurants.
- Represented Synovus Bank, as mortgage lender, in its enforcement of remedies against the borrower, including an action seeking an appointment receiver and to obtain recovery from the multifamily borrower and affiliate guarantors in Georgia state court.
- Represented Barclays Bank PLC, as lender, in a Texas state court action seeking the appointment of a receiver over the security for a $200 million loan, a decommissioned oil refinery.
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Master and Special Mortgage Servicing Litigation
- Represented LNR Partners, as special servicer, in the foreclosure of a $19 million acquisition loan on the Clarion Hotel LaGuardia in Queens County, New York, including the appointment of a temporary receiver.
- Represented Wells Fargo, as special servicer, in connection with a multitude of actions in New York state and federal courts involving a $162 million loan secured by more than 100 hotels in the Mid-Atlantic region, including suits against mezzanine lenders under an intercreditor agreement arising from the mezzanine lender’s receipt of assignment of the mezzanine borrower’s equity collateral and against the guarantor under a nonrecourse carve-out guaranty based on the borrower’s bankruptcy filing.
- Represented Wells Fargo, as special servicer, in a lawsuit against a commercial loan borrower involving a $165 million loan secured by more than 40 hotels in 11 states, including an application for injunctive relief to prohibit the mezzanine lender from foreclosing on the senior mezzanine loan without curing the mortgage borrower’s monetary defaults under the senior mortgage loan.
- Represented C-III Asset Management, as special servicer, in a foreclosure action involving a $50 million loan secured by the LaGuardia Plaza Hotel – LaGuardia Airport in Queens, New York.
- Represented Wells Fargo, as special servicer, in a lawsuit filed by a junior participant in a B note against senior lenders and the special servicer arising from a loan modification and a principal write-down of a commercial mortgage loan secured by the James Hotel in Chicago.
- Represented Wells Fargo, as master servicer, in connection with a lawsuit in New York and a trust instruction proceeding in Minnesota involving the payment of a special servicing fee in connection with the sale of Stuyvesant Town in New York City.
- Represented Rialto Capital, as special servicer, Midland, as master servicer, and Wells Fargo, as trustee, in connection with a lawsuit filed by a commercial loan borrower in the Supreme Court, New York County concerning a dispute over the interpretation of a reserve provision in a loan agreement.
- Representing Rialto Capital, as special servicer, and Wells Fargo, as master servicer, in the enforcement of remedies, including an action seeking an appointment receiver and to obtain recovery from a multifamily borrower and affiliate guarantors in Georgia state court.
- Represented Wells Fargo, as special servicer, Midland Funding, a division of PNC Bank, as master servicer, and Wilmington Trust, as trustee, in connection with a lawsuit filed by a commercial loan borrower arising from a dispute concerning the lender’s right to approve a lease renewal at the property in Tennessee.
- Represented Bank of America, as special servicer, in a foreclosure action involving a $177 million loan secured by a senior living facility in Maryland and in a related action against a junior mortgage lender.
- Represented Prudential Special Servicing in an action to enforce a mortgage on Sheraton Universal Hotel in Los Angeles, including the appointment of a receiver and the sale of collateral.
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Securitization and Representation and Warranty Litigation
Since the subprime crisis began, we have handled nearly every aspect of securitization-related litigation. We have handled disputes arising from the spectrum of asset classes (RMBS, CMBS, ABS) and securitization vehicles (REMIC, CDO, CRE CLO) and related derivative products and represented almost every type of market participant—loan originators, servicers, underwriters, issuers, investors, indenture trustees, collateral managers, monoline insurers, and swap counterparties—in the process.
- Represented SunTrust Mortgage Inc. in lawsuits in New York federal court involving claims for breach of contract and indemnification based on residential loan-level representations and warranties filed by the ResCap Liquidating Trust.
- Represented Barclays Bank PLC and EquiFirst Mortgage Inc. in three lawsuits in the Supreme Court, New York County, involving claims for breach of contract based on alleged breaches of residential loan-level representations and warranties.
- Represented Wells Fargo, as servicer or master servicer, in multiple matters regarding investor disputes in RMBS trusts.
- Represented DB Structured Products Inc., an affiliate of Deutsche Bank AG, in connection with 20 litigations in the Southern District of New York against residential mortgage loan originators alleging representation and warranty breaches and early payments defaults.
- Represented Citigroup Global Capital Markets Realty Corp. against Accredited Home Lenders Inc. in New York federal court. In the action, Citigroup alleged loan-level representation and warranty breaches in connection with Citigroup’s purchase of approximately $2.7 billion in residential mortgage loans from Accredited Home.
- Represent GSS Data Services Inc., an affiliate of Goal Structured Solutions, as administrator of 15 student loan securitization trusts that own more than $12 billion in student loans in lawsuits in New York and Delaware relating to the ownership, control, and administration of the trusts.
- Represented ATP Management, an affiliate of Fortress Investment Group, as CDO collateral manager, in a lawsuit in New York state court against a commercial loan borrower for breach of contract and fraud.
- Represented the collateral manager of 15 CDOs in connection with several litigations filed in New York.
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Corporate Trustee, Securities Administrator, and Agency Litigation
We are one of the leading law firms in the representation of corporate trustees and related securitization parties in litigation arising from various types of securitizations, including trust instruction proceedings, actions under Article 77 in New York, and interpleader actions.
- Represented Wilmington Trust, as trustee, in connection with numerous actions in state courts in New York and Minnesota addressing the proposed settlement of residential mortgage loan origination and servicing claims.
- Represented Wilmington Trust, as trustee, in the Lehman Brothers bankruptcy, including RMBS putback claims.
- Represented Wells Fargo, as securities administrator, in a dispute with a certificateholder regarding the calculation of interest payments. Dismissal of the case affirmed on appeal.
- Represented Wells Fargo, as trustee, in the ResCap (GMAC) bankruptcy.
- Represented Wells Fargo, as trustee, in connection with certificateholders’ claims that two trusts were improperly amended and terminated. Dismissal of the case affirmed on appeal.
- Represented Wells Fargo, as trustee, in connection with issuer and certificateholders’ claims that a trust was improperly administered.
- Represented U.S. Bank, as trustee, in numerous disputes arising from the liquidation of CLO assets.
- Represented U.S. Bank, as trustee, in disputes regarding the sale of defaulted securities in three related CDOs.
- Represented Christiana Trust, as trustee, in connection with the actions to recover losses stemming from a fraud perpetrated on a trust.
- Represented Wells Fargo, as trustee and/or master servicer, in the Delta Financial, Fieldstone, and First NLC bankruptcies.
- Represented Bank of America, as trustee and/or master servicer, in with the First NLC, New Century, and Fieldstone bankruptcies.
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Banking and Financial Institution Litigation
We represent commercial and investment banks and other financial institutions in high-stakes litigation arising from mergers and acquisitions, corporate finance, securities offerings and regulation, corporate governance, and investment management in federal and state courts throughout the U.S. In addition, we represent regional and community banks in litigation involving fraud, Ponzi schemes, contracts, guarantees, checks, the Uniform Commercial Code, D&O liability, lender liability, liens, and fiduciary duties.
- Represented Ulster Savings Bank at trial and on appeal in New York state court in a multifaceted breach of contract, accounting, and fraud action arising from a failed commercial real estate joint venture.
- Represented a swap counterparty in a dispute with Lehman Brothers, as credit default swap counterparty, over a $1.4 billion termination payment.
- Represented SunTrust Bank as syndicated lead lender in a lawsuit filed in the Supreme Court, New York County, by the owner of a copyright in master recordings of the rock band Bush.
- Represented Popular Bank in a putative class action lawsuit under the Americans with Disabilities Act relating to website access.
- Represented a financial institution in a multifaceted matter in connection with the acquisition of a mortgage company subsidiary, including breach of contract, fraud, indemnification, and earn-out payment issues.
- Represented a regional bank in litigation arising from a check kiting scheme.
- Represented an international bank in the termination of a credit default swap with Lehman Brothers.
- Represented Santander Bank in an action against a mortgage company in New York federal court for breach of contract under a warehouse line of credit.
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