The managing partners of the 20-year-old firm with about 560 employees were surprised by the news they received late Thursday, said firm spokesman Mark Sell. Fannie Mae accounted for about half of the firm’s caseload.
“With the implosion of the housing market, the firm took on a lot of foreclosure cases and became a very large foreclosure law firm rather quickly. Foreclosures became an overwhelming percentage of the practice,” Sell said.
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