Listed below are several recent cases in which Invotex Group professionals provided subprime mortgage and credit crisis related services:
- Invotex was retained as Financial Advisor to the Debtor, a nationwide mortgage banking company that originated, sold and serviced conforming and non-conforming residential mortgage loans. In 2006, the Debtor originated approximately $5.5 billion of mortgage loans. Invotex is providing bankruptcy related services, including historical transactions analysis.
- Invotex is providing litigation services related to a Debtor that originated accounts receivable and equipment financing loans in the healthcare field and then sold the loans as collateralized structured credit obligations. Invotex is analyzing historical transactions and performing a damage analysis.
- We are providing litigation support services in a case involving a bankrupt mortgage lender that originated, securitized, sold and serviced primarily subprime mortgage loans. Our client, the Directors, were named in this class action lawsuit that alleges the financial institution overvalued its residual interests in Interest Only (IO) securities to give the appearance of solvency.
- Invotex is providing regulatory consulting services related to a financial guaranty insurance company. This matter has required our professionals to understand and monitor the company’s exposure to CDO and related credit default swap contract losses resulting from the subprime mortgage market.
- Invotex is providing litigation support on accounting and auditing practices relating to mortgage-backed securities and related derivative instruments in a case involving a nationally recognized financial institution.
- Our professionals investigated facts and potential accountant malpractice relative to a $500 million fraud related to the collapse of a bank with $1 billion of assets. Our team identified the methods of operation of a massive fraud involving subprime mortgage loans, consolidated mortgage obligation securitizations and residual interest values. They also identified the major weaknesses in the independent audits that permitted the fraud to continue undiscovered.
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