Ballard Spahr Creates Subprime Lending Team

Just a few days after the American Dialect Society named “subprime” as its word of the year, Ballard Spahr Andrews & Ingersoll created a practice around litigation and business issues that might stem from this summer’s subprime lending crisis.

The group will offer legal services and guidance to clients regarding the litigation, government action and business problems related to subprime lending, the firm said Tuesday.

The multi-disciplinary group includes existing Ballard Spahr attorneys from the firm’s consumer finance, real estate, investment management, bankruptcy, securitization and white collar litigation practices.

“When the American Dialect Society choose ‘subprime’ as the word of the year, they not only touched on a subject that is popular in the media, but on an issue that has a significant and on-going impact on the overall commercial financial health of the United States,” Henry E. Hockeimer Jr., partner in Ballard Spahr’s litigation department and a member of the subprime lending team, said in a statement  “As the subprime crisis grows, it’s clear that the effects will be felt across several disciplines and throughout the country.”

The firm said it is well positioned to help clients in Arizona, Nevada and California – states with high default rates – because of its existing offices in those areas.

— Gina Passarella, Staff Reporter

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