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Firm Assists Facilitation of Loans to Homeowners at Risk

December 6, 2011

With a team of more than 30 attorneys and staff from across the firm, in just 3 months Shipman & Goodwin assisted hundreds of Connecticut homeowners impacted by the mortgage crisis. The Connecticut Housing Finance Authority (CHFA) turned to the firm to close approximately 400 loans through its Emergency Mortgage Assistance Program, which provides temporary mortgage aid to eligible homeowners facing foreclosure due to a financial hardship.

“We do not typically represent CHFA on single-family mortgages, but this was a unique situation,” said Bill Rock, a partner and head of the firm’s Finance and Investment Group. “CHFA was handed the gargantuan task of implementing this federal program on an extremely tight schedule. We were able to help because of our ability to marshal the resources necessary to handle such a large number of loans in a short period of time,” said Rock, who oversaw the firm’s work on the loans.

“The overall team effort was extraordinary,” said managing partner Scott Murphy. “Given the public importance of the program and constraints on legal fees, we feel good about our decision to do the work.”

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