Mortgage Loan, Servicing Cos. In Bankruptcy

Law360, New York (February 22, 2008, 12:00 AM EST) -- The subprime mortgage crisis of 2007 has led to the bankruptcy filings of numerous mortgage companies. Before bankruptcy, some of those mortgage companies not only originated and sold mortgage loans, but also functioned as the "servicer" of the mortgage loans over the life of the loan. Within these bankruptcy cases, the debtors, the creditors' committees, the warehouse lenders and others have battled over their respective rights with regard to the mortgage loans and the servicing business.

A recent decision in the American Home Mortgage, Inc. Chapter...
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