Firm launches advisory group to assist banks and mortgage lenders

facing demands to repurchase defaulted mortgages

August 31, 2007 | Chicago

Arnstein & Lehr LLP announced today the launch of a practice group to assist banks and mortgage lenders facing demands to repurchase defaulted mortgages.

Konstantinos (Dino) Armiros, a partner with Arnstein & Lehr and also one of the practice group's chairs, said the firm's significant bankruptcy and restructuring expertise is invaluable in conducting an analysis of repurchase contract obligations. "The mortgage industry is in crisis and Arnstein's depth in advising companies in distress and financial services organizations places us in the right place at the right time," he said.

Attorneys within the group have more than 30 years experience in representing banks and distressed companies. The group will offer sophisticated analysis of regulatory and other statutory obligations of the mortgage originator or lender and will also provide creative strategies to assess potential exposure, including possible criminal liability. They will also assist and represent acquirers of entities, including securitized pools, which control or are liable for repurchase contracts to assure fair pricing and maximum value for their clients.