Legal News

Subprime Court Filings Reach Record Level
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Wanna buy a house?The number of subprime-related court filings has reached an unprecedented level and is expected to continue skyrocketing as economic conditions worsen, according to a report by Chicago’s Navigant Consulting.

The number of subprime mortgage and related cases filed in federal court during the first nine months of 2008 already exceeds by more than 50% the total for all of 2007. A total of 448 cases were filed so far this year, compared to 294 last year.

Filing volume in the September 2008 quarter was the third highest on record with 131 new matters, while the total number of cases filed reached 742 for the 21-month period ending on September 30th.

  
What
Where


Subprime-related cases have outstripped the savings-and-loan cases of the early 1990s, the previous high-water mark in terms of litigation fallout from a major financial crisis.

“The bottom line is that new cases continue to be filed much more rapidly than existing cases are being disposed,” said Navigant’s Jeff Nielsen.

Via National Law Journal.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Junior Land Use Attorney with experience

USA-CA-Westlake Village

Los Angeles office is seeking a junior land use associate with 1-6 years of experience. Candidate mu...

Apply Now

RELEVANT JOBS

Litigation Attorney

USA-IL-Chicago

AV-rated, Chicago Loop defense firm of trial lawyers seeks associate attorneys to join our busy liti...

Apply now

Litigation Attorney (5+ years)

USA-FL-Fort Lauderdale

The Fort Lauderdale office of Kaufman Dolowich & Voluck seeks an experienced litigation associate wi...

Apply now

Director of Originations, Litigation Finance Investments

USA-TX-Dallas

Location is flexible nationwide -- NOT only Dallas. Job Summary Rapidly growing litigatio...

Apply now

Market Research Consulting Analyst for Litigation Projects

USA-MA-Waltham

Applied Marketing Science, Inc. (AMS) is a market research and consulting firm located in Waltham, M...

Apply now

Most Popular

SEARCH IN ARCHIVE

To Top