Areas of Specialization
Asset Backed Securities, Collateralized Debt Obligations, and Securitized Debt
Numerous investors have been exposed to the mortgage industry debacle, either through direct investments or via portfolios tied to mortgage-related debt. These investments have suffered tremendous losses that, in many cases, were the consequence of unscrupulous activities. These securities include Collateralized Mortgage Obligations (”CMOs”) or Collateralized Debt Obligations (”CDOs”) with large exposure to subprime and Alt-A loans.
In some cases, the risk related to these investments was not properly disclosed, which brokers had a fiduciary responsibility to explain when selling these financial instruments to their clients. Zamansky & Associates has numerous active cased involving investors whose financial assets have been unfairly squandered due to the housing market crisis. Our clients include domestic and foreign investors, including individuals with less than $1 million in losses to institutional investors who have lost tens of millions of dollars.
Declining Mortgage Stocks
Due to an overabundance of subprime loans and securitized debt, many financial services companies have suffered massive losses, and shareholder value and stock prices have declined significantly as a result.
Zamansky & Associates has extensive securities arbitration experience working with clients who were improperly invested in these companies. With many of these claims, brokers had misrepresented the risks associated with these investments or had allowed clients’ portfolios to be inappropriately overweighted in terms of overall exposure to subprime investments and the mortgage industry.
Mortgage Scams
As a result of the exuberance of the mortgage and housing bubble, many homeowners were victimized by mortgage related scams. Zamansky & Associates is in the process of litigating one the country’s leading mortgage scam cases. We also represent victims of predatory lending practices. Examples of the types of mortgage scams, swindles, and deceptions that our firm is called upon to investigate are:
- Inflated Appraisals
- Improper Commissions and/or Bonuses by Brokers and Appraisers
- Falsifications on Loan Applications
- Fake Supporting Loan Documentation
- Purchase Loans Disguised as Refinance
- Short-Term Investments with Guaranteed Re-Purchase
There are also various types of more sophisticated and complex schemes that have victimized homeowners, including:
- Property Flipping
- Nominee Loans
- Fictitious or Stolen Identity
- Foreclosure Schemes
- Equity Skimming