LOAN LOSS RECOVERY STRATEGY
Strategy: A-B-C or Always Be Closing Creative.
Admittedly, this representative case is really a summary of dozens of federal cases that Josh Migdal and George Breur have brought on behalf of their clients related to misconduct in a mortgage transaction. While most attorneys representing lenders in the wake of the financial crisis were focusing on repurchase claims and traditional loan loss recovery which is focused on foreclosure of the real property securing the loans and pursuance of deficiency judgments against the individual borrower; Josh and George obtained tens of millions of dollars in recovery for their clients by seeking recovery from title insurers pursuant to closing protection letter claims. Don’t know what a closing protection letter claim is? Read about here, in Florida’s landmark decision, FDIC v. First American Title Ins. Co., 611 Fed. Appx. 522 (11th Circ. 2015).
