On April 27, 2011, at 2 p.m. ET, The TASA Group, Inc., in conjunction with mortgage expert Terry Mendenhall, presented a free, one-hour, interactive webinar, Emerging Trends in Mortgage Litigation, for all legal professionals.
This presentation discussed in detail the growing areas of mortgage litigation. Poor residential mortgage lending practices and flawed mortgage funding structures were a significant cause of the downturn in the economy that began in 2007. Many of the assets and processes associated with certain types of mortgages have produced significant losses.
Many entities and other parties associated with originating, funding, servicing, guaranteeing, insuring, and investment in certain mortgage assets are now parties to civil litigation. This includes mortgage brokers, loan officers, mortgage banking and servicing firms, banks, thrifts, credit unions, title insurance companies, closing services, mortgage and bond insurance companies, government-sponsored mortgage entities, individual borrowers, sellers of mortgaged real estate properties, and institutional investors.
During this program, the presenter covered the following issues:
* The history of changing underwriting risk parameters in residential mortgage lending
* How changing standards led to the downturn in the housing market
* The rise of subprime lending and how it affected prime mortgages; Alt A and “nonprime”
* Contractual representations & warranties in sale of mortgages and mortgage- backed securities
* Repurchase demands
* Fraud and misrepresentation – borrowers and lenders
* Mortgage ownership transfers/foreclosure problems
* Quality control and underwriting
* Credit score utilization in residential mortgage lending
* Lender liability issues
About the Expert:
Terry Mendenhall is a banking and financial services executive/consultant with over 40 years of experience in mortgage lending and real estate nationwide. He has led the residential lending operation for various sized banking organizations in diverse markets with very different customers. During his career, he has worked for community-based, statewide, and national financial services firms. Asset sizes of the firms ranged from $50 million to $65 billion. Mr. Mendenhall has written articles that were published in various professional publications and served as a speaker at numerous industry meetings involving residential lending and real estate over many years. He has worked with financial institutions nationwide on numerous challenges.
About The TASA Group, Inc.
TASA provides independent testifying and consulting experts to the legal community, within the fields of business, technology, the arts, and science. TASA experts are available locally and nationally, for plaintiff or defense. They assist with various phases of litigation, including case merit evaluation, strategy, education, research, reporting, and testimony. TASA serves law and insurance professionals, businesses, and government agencies.