US firms see increased demand for foreclosure advice

The recent furore over the foreclosure practices of mortgage companies has been good for business at Washington law firms. Laurence Platt, head of the financial services practice at K&L Gates, said that the focus upon foreclosure mishaps by the US government and consumer advocacy groups has prompted many clients to seek legal advice. K&L Gates has responded to the increased demand by launching a US foreclosure task force to advice clients with regard to potential lawsuits, hearings and foreclosure moratoriums. Andrew Sandler of Buckley Sandler also reports an increase in regulatory inquiries related to foreclosures. The firm currently has about 70 lawyers working on foreclosure matters. “That’s more lawyers than we’ve ever had working on a single issue,” Sandler said.

US firms see increased demand for foreclosure advice legaltimes.typepad.com Wed, Oct 20, 2010