FHFA and NCUA Litigation

Compass Lexecon has been actively involved as consulting experts in a series of cases over the last several years on behalf of the Federal Housing Finance Agency (FHFA) and National Credit Union Administration (NCUA) in litigation relating to alleged false representations in the offering documents of residential mortgage-backed securitizations (RMBS), including the origination and underwriting characteristics of the loans in the supporting loan groups of the RMBS. Our firm has also continued to provide support for testifying experts Professor G. William Schwert, Professor Anthony Saunders and Professor James Barth, who have been retained in various capacities as experts on issues of materiality and loss causation. Over the last year, several cases have settled, while others are ongoing. We continue to work with counsel for FHFA from Quinn Emanuel Urquhart & Sullivan, LLP (Philippe Z. Selendy, Sascha N. Rand, Richard I. Werder, Jr., Jonathan B. Oblak, Jordan A. Goldstein and Toby E. Futter) and counsel for NCUA from Kellogg, Huber, Hansen, Todd, Evans & Figel, PLLC (David Frederick, Andrew E. Goldsmith, Andrew C. Shen, Andrew Hetherington, Daniel V. Dorris, Matthew R. Huppert and Peter S. Ratner) and Korein Tillery, LLC (John Craig, Randall Ewing, Jr. and Stephen Tillery). The Compass Lexecon team is headed by David Ross, and includes Kevin Hartt, Erika Morris, Yoad Shefi, Elizabeth Wall, Ron Laschever, Peter Marlantes and Yili Wang.