Description
In our year-end 2007 report,1 we noted “[t]he pace of the [subprime mortgage and related federal] filings picked up dramatically as the year progressed, generally mirroring the deteriorratio in market conditions.” With the first quarter of 2008 now in the rear view mirror, it is apparent that the brisk pace of late 2007 was merely a warm-up. One hundred seventy new cases were filed in federal courts during the first three months of 2008, an 85 percent increase over the previous busiest quarter (...

Advertisement