Subprime Market INDUSTRIES

The ongoing turmoil in the subprime lending markets and the resulting wave of defaults, bankruptcies, litigation and heightened governmental focus have industry participants facing a broad range of complex regulatory and transactional issues, as well as increasing numbers of investigations and civil lawsuits. WilmerHale has created an interdisciplinary group combining the diverse areas of legal expertise necessary to represent its clients most effectively in addressing these developments.

WilmerHale’s Subprime Market Interdisciplinary Group includes some of the best lawyers in the United States practicing in the areas of financial institutions regulation and transactions, debt finance and securitizations, bankruptcy, securities regulation and enforcement, real estate law and litigation. Our lawyers are representing lenders, investment funds, underwriters and other stakeholders in connection with the full range of issues arising out of the changes in the subprime lending markets, including, with respect to mortgage offerings, defaults and restructuring transactions, repurchase agreements, warehouse lending agreements, lines of credit, collateralized debt and loan obligations, and in handling responses to regulatory inquiries, litigation and representation in bankruptcy proceedings.  


Experience in this industry includes our representation of:

  • a hedge fund in regulatory investigations and litigation resulting from subprime mortgage investments
  • the purchaser of a subprime lender out of bankruptcy
  • the purchaser of a subprime mortgage servicer
  • Fannie Mae in SEC and Office of Federal Housing Enterprise Oversight regulatory proceedings and in a major corporate restructuring
  • a major consumer finance company (now HSBC Finance) in its acquisition of a $3.5 billion mortgage finance business
  • issuers, underwriters, lenders and investors in connection with public debt offerings and exchanges, syndicated senior and mezzanine debt transactions (including acquisition, leveraged, debtor-in-possession (DIP) and letter of credit financing), and securitizations
  • corporate and financial institutions in hundreds of securities matters before the DOJ, SEC, National Association Of Securities Dealers, New York Stock Exchange, AMEX, state regulators and Congress
  • debtors, committees and individual creditors in a broad range of the largest and most complex national and international reorganization and workout matters
  • corporate and financial institutions in regulatory agency, State Attorneys General and congressional inquiries
  • senior executives of a major subprime servicer and investor
  • numerous financial institutions, creditors and governmental entities in litigation including antitrust and securities class actions relating to mortgage banking, securities transactions and bankruptcy proceedings

Publications & News


July 13, 2016

Civil Fines Jump Across Agencies Under Inflation Adjustment Act

Civil fines across federal agencies have recently been increased dramatically under the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (2015 Act) (Sec. 701 of Public Law 114-74), with some more than doubling. Companies violating the Hart-Scott-Rodino (HSR) Improvements Act, the Securities and Exchange Act, or the Occupational Safety and Health Act (OSHA), among others, could soon face civil monetary penalties that are up to 150% higher than the existing levels. According to the Congressional Budget Office, the 2015 Act would increase the federal government's revenue by $1.3 billion over the next ten years.

December 15, 2010

FCIC Commissioners Issue Preliminary Findings on Crisis Causes

November 30, 2010

Oversight Committee Considers New Subpoena Power for Inspectors General—More Burdens for Business?

November 19, 2009

Establishment of New Financial Fraud Enforcement Task Force

February 5, 2008

WilmerHale Reflects on a Successful 2007

A Year of Significant Accomplishments

November 28, 2007

Ohio Federal Court Foreclosure Decisions May Pose Hurdles for Securitization Trustees

July 9, 2007

Agencies Issue Final Statement on Subprime Mortgage Lending

March 9, 2007

Agencies Issue Proposed Statement on Subprime Mortgage Lending: New Standards for Assessing Borrower Ability to Repay, Consumer Disclosures and Internal Controls?