Ballard Spahr Andrews & Ingersoll LLP, a Philadelphia-based law firm, has announced the formation of a multidisciplinary Subprime Lending Team. The group will provide legal support to clients regarding the litigation, government action, and business problems sparked by the subprime mortgage crisis, the law firm said. "As the subprime crisis grows, it's clear that the effects will be felt across several disciplines and throughout the country," said Henry E. Hockeimer Jr., a partner in Ballard's litigation department and a member of the subprime team. "The specific legal disciplines affected happen to be areas of real strength for Ballard: consumer finance, real estate, securities, commercial litigation, and white collar are all areas where the firm has great depth and experience." The law firm can be found online at http://www.ballardspahr.com.
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Zombie properties rose quarter over quarter in 38 states and the District of Columbia, according to Attom's latest Vacant Property and Foreclosure Report.
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The House passed housing legislation that includes a slightly pared-down institutional investor housing ban, as well as a raft of community bank measures.
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Delinquencies among recent FHA originations are showing up alongside a notable volume of subordinate liens carried by the borrowers.
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The share of sellers dropping their asking price fell in April as buyer demand picked up, though Sun Belt markets — especially in Texas — still saw widespread price cuts.
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The real estate investment trust, while reporting a first quarter net loss, benefitted from growth and stable margins in its three mortgage production units.
May 20 -
The co-author of the landmark Dodd-Frank Act and progressive congressional trailblazer Rep. Barney Frank, D-Mass., has died.
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