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Tag Archives: Bankruptcy

Barrett Daffin’s Steve Turner Recognized as a ‘2012 Best Lawyer’

Steven P. Turner, a partner at Texas-based Barrett Daffin Frappier Turner & Engel, LLP, has been selected by his peers for inclusion in the 2012 edition of ""The Best Lawyers in America"" in the area of bankruptcy and creditor debtor rights/insolvency and reorganization law. Selection is based on more than 3.9 million confidential peer-review evaluations. Turner is the firm's bankruptcy managing attorney.

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Reisenfeld & Associates Adds Four New Attorneys

Reisenfeld & Associates LPA, LLC, a Cincinnati, Ohio-based legal services provider, recently announced the addition of Joel F. Bornkamp, Philip Q. Ratliff, Michael J. Lubes, and Majenica L. Springer to its legal team. Reisenfeld & Associates is a full-service creditors' rights law firm offering legal services to the mortgage, banking, and default servicing industries. The firm provides representation in all counties and federal districts in the states of Ohio, Kentucky, and Indiana, and is currently designated counsel for Fannie Mae and Freddie Mac.

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Randall McHugh Named a ‘Best Lawyer’ for Foreclosure Practice

Randall S. McHugh, VP at Bendett & McHugh, P.C., has been selected by his peers for inclusion in the 2012 edition of The Best Lawyers in America in the practice area of mortgage banking foreclosure law. This marks the third straight year that McHugh has been honored with the designation. Selection to Best Lawyers is based on an exhaustive and rigorous peer-review survey comprising more than 3.9 million evaluations by fellow attorneys.

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The Hopp Law Firm Names New Partner to Idaho Legal Team

The Hopp Law Firm, LLC, a national provider of commercial and creditor legal services, recently announced that Forrest R. Goodrum has joined its Idaho legal team as a partner. Goodrum joins the firm with over 40 years of litigation, appellate litigation, creditor bankruptcy, and real estate law experience. In his work, Goodrum has handled a wide range of regulatory and compliance matters related to creditor's rights, real estate, mortgage banking, mortgage servicing, foreclosures, and litigation.

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FTC Returns $108M in Overcharges to Countrywide Borrowers

The Federal Trade Commission is mailing 450,177 refund checks worth almost $108 million to homeowners who were allegedly overcharged by subprime lender Countrywide. According to the FTC, homeowners who were in default were charged excessive and unlawful fees for services such as property inspections, lawn mowing, and other services meant to protect the lender's interest in the property. The agency alleges that Countrywide also added fees and escrow charges to the accounts of borrowers in bankruptcy without notice.

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Freddie Mac-Taylor Bean Settlement to Yield Pennies on the Dollar

Freddie Mac has entered into a proposed settlement with the now defunct Taylor, Bean & Whitaker (TBW). Under the terms of the agreement, Freddie Mac will be granted an unsecured claim in the TBW bankruptcy estate for just over $1 billion. The GSE estimates it will only see between $40 million and $45 million from that claim. While the settlement entitles Freddie to additional funds related to its mortgage loans, it also requires the GSE to pay TBW and its trade creditors to settle their potential claims against the GSE.

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The Wolf Firm Welcomes Three New Associate Attorneys

The Wolf Firm, a provider of legal services throughout California to residential and commercial lenders, servicers, investors, and insurers, added three new associate attorneys to its ranks. Joy E. Mason and Kristin S. Webb joined the firm's litigation department, and Ryan M. Davies will serve in the firm's bankruptcy department.

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Nevada Leads Nation in Bankruptcy Filings

Even with the highest foreclosure rate in the nation, Nevadans are not using bankruptcy to keep their homes, according to Columbia Law School professor Ronald Mann. Mann's analysis shows that Nevada's bankruptcy filing rate so far this year is 5,176 filings per million adults, more than twice the national rate of 2,562 per million. At the same time, he notes that Nevada's percentage of filings under Chapter 13 of the bankruptcy code, which often allows debtors to keep their property, trails the national average.

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Potestivo & Associates to Represent FDIC in Michigan and Illinois

Potestivo & Associates, P.C., a legal provider in the real estate finance and credit industry, will represent the FDIC as outside counsel in Michigan and Illinois, according to a statement from the firm. The AV-rated firm, which includes more than 100 team members, handles all aspects of default servicing, including residential and commercial foreclosures, bankruptcies, landlord tenant, title resolution, home retention services, REO disposition, and litigation.

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New York Fed Study Points to Decline in Problem Loans in First Quarter

The Federal Reserve Bank of New York says it's seeing ""signs of healing"" in consumer credit markets, as evidenced by a decline in new foreclosures, bankruptcies, and mortgage delinquencies during the first three months of this year. About 368,000 borrowers had a foreclosure notation added to their credit reports in the first quarter, while new bankruptcies dropped to 434,000. At the same time, about 2.4 percent of current mortgage balances transitioned into delinquency, the second straight quarterly improvement in this measure.

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