As a wave of customer defaults swept through the subprime mortgage lending industry in late 2006, reports of lenders seeking refuge from margin calls and buyback requirements placed on the warehouse lines and repossession agreement fundamental to their operations exploded. Without the confidence of the equity markets behind them, subprime mortgage lenders have been painted into a corner amid rising interest rates and customer turmoil.
On both coasts, we are leading the way in chapter 11 cases involving the subprime mortgage lender industry. Turbulence among these lenders not seen since the 1990's has in-house counsel at numerous subprime lenders turning to Pachulski Stang Ziehl & Jones for answers. As a result, we have developed unique breadth and experience regarding the issues and incomparable recent experience in these matters.
- March 26, 2007
- February 28, 2007