New York-based Locke Lord Bissell & Liddell law firm said today it has formed a new unit to answer the needs of bond insurers needing guidance on the legal complexities associated with the collapse of the subprime home mortgage lending market.
The firm said it has tracked several hundred lawsuits related to the mortgage market slump and has created a Financial Guaranty Insurers Section to help financial guaranty insurers who face "mounting legal challenges from financial and insurance regulators and investors among others."
Financial guaranty insurers, also referred to as bond insurers or monoline insurers, the firm said, now face a wide range of business and legal challenges sparked by the subprime mortgage crisis.
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