When the U.S. housing market began to crash more than five years ago, Reed Smith’s insurance recovery group was in a unique position to tackle the first wave of mortgage insurance litigation.
Although initial claims in the litigation, Bank of America N.A. v. Old Republic Insurance, which involves policies issued to Bank of America to insure home equity loans, were filed in Chicago, additional actions were filed in California, some of the homeowners and policyholders involved in the case lived in Pennsylvania and Reed Smith’s client, Bank of America, is headquartered in North Carolina.
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