Alston & Bird has formed a multidisciplinary taskforce comprising 50 partners to assist U.S. clients with issues resulting from the credit crunch. The subprime taskforce is made up of attorneys from across the firm who specialize in financial litigation, securitization, class actions, finance, insurance coverage disputes, real estate, bankruptcy, workouts, structured products, retirement plans, banking regulation and derivatives. The group is headed by Brian Cox, whos is a finance partner from the law firm's Charlotte office, as well as John Latham, a securities litigation partner in the Atlanta office. The firm's release said that contacts in the New York office are Gary Roth, a partner in the financial services group, as well as Michael Johnson, a litigation partner.
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Sens. Ed Markey and Ron Wyden argue that the Small Business Administration neglected to warn small firms of the risks of merchant cash advances and closed off a key "escape route" from the resulting debts.
May 15 -
Standard & Poor's found modeled foreclosure frequency and loss coverage to be in similar ranges as classic FICO but showed concern about potential bias.
May 15 -
The cumulative advance rate on the notes include range from 68.5% and 87.7% on the A1 notes and A2 and A notes, respectively.
May 15 -
Foreclosure filings were reported on 42,430 properties in the United States last month, down 8% from the month prior but up 18% from a year ago.
May 14 -
S&P sets an estimated cumulative net loss of 2.85% for the CRVNA 2026-P2 notes, unchanged from the CRVNA 2026-P1, because the collateral characteristics were unchanged.
May 14 -
House lawmakers modified a ban on big-money investors from purchasing single-family homes, broadening the exemptions for build-to-rent properties and eliminating requirements in a Senate version of the bill that affected investors divest their holdings.
May 14










