Banking & Creditors' Rights Team
 
 
 
Steve Krueger
 
Banking & Creditors' Rights Information Alert
Law Firm of Conway, Olejniczak & Jerry, S.C.
920.437.0476

 

Banks Allowed to Choose Legal Representation on Freddie Mac and Fannie Mae Loans
 
Beginning on June 1, 2013, lenders who service Freddie Mac and Fannie Mae loans will have input in selecting their own legal counsel to provide default-related services such as foreclosure, loss mitigation, bankruptcy and related litigation. Lenders will no longer be required to use only those limited attorneys unilaterally designated by Freddie Mac and Fannie Mae - all of whom are located outside northeast Wisconsin.

The Law Firm of Conway, Olejniczak & Jerry, S.C. ("LCOJ") is available to provide local legal support for default-related services. Our Bankruptcy and Creditors' Rights Team is experienced in handling pre-default file reviews, circuit court enforcement actions, and protecting lenders' rights in federal bankruptcy courts. In addition to our team of experienced lawyers, LCOJ offers the only certified Creditors' Rights specialist in Brown County as well as a talented group of paralegals and support staff who will provide prompt response to your legal needs.

The Law Firm of Conway, Olejniczak & Jerry, S.C. was founded in downtown Green Bay in 1976 and, today, we are the largest local law firm in the Greater Green Bay area. Our timeless reputation for the highest standards of quality has earned us the trust and confidence of businesses throughout Northeast Wisconsin for nearly four decades. Our attorneys are committed to being involved members of our clients' advisory teams - providing legal expertise, exceptional client service and professionalism.

Fannie Mae and Freddie Mac have each issued their own set of approval requirements for outside counsel chosen by lenders. LCOJ is ready to assist in transitioning default-related services to our office. We will assist, at no charge, in completing the due diligence and forms required to timely comply with the requirements issued by Fannie Mae and Freddie Mac. Lenders should begin taking action now to submit their request for specific counsel in order to get their selected counsel approved prior to the June 1, 2013 effective date. Failure to do so may put lenders at risk for unreimbursed legal fees.

Please contact one of our team members to discuss. They can be reached via phone at (920) 437-0476 or via email at  Michele McKinnon , Brick Murphy, or Steven Krueger.