Legal analysis of servicer safe harbor

The Helping Families Save Their Homes Act (H.R. 1106) has been passed by the U.S. House of Representatives and is now under consideration in the U.S. Senate. It is aimed at preventing mortgage foreclosures and enhancing mortgage credit availability.

The bill, and the concept of servicer safe harbor, also is now the subject of a free audio webcast and white paper from securitization litigation expert Talcott J. Franklin, co-author of two noted legal treatises on securitization from West.

In addition to Franklin, the webcast features:

• Aline van Duyn, U.S. Markets Editor, Financial Times
• Eric J. Brenner, partner, Boies, Schiller & Flexner LLP
• Micah S. Green, partner, Patton Boggs LLP, and former President and CEO of The Bond Market Association
• Hamish P. M. Hume, partner, Boies, Schiller & Flexner LLP
• Katherine M. Porter, associate professor, The University of Iowa College of Law

The free webcast, titled The Next Scandal in the Credit Crisis, is available here.

The free white paper from Franklin, titled Mortgage Servicer Safe Harbor: A Legal and Policy Analysis, is here.

Franklin is the co-author of , Emergency Economic Stabilization Act Handbook and Mortgage and Asset Backed Securities Litigation Handbook, published by West Legalworks.

Posted by Kevin Hunt, senior communications specialist, Thomson Reuters

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“Love, Law and Litigation”

Playwright Tony Kushner will take part in the next event in the Guthrie Theater’s continuing legal education series with West LegalEdcenter.

Kushner will be a panelist at the CLE titled Love, Law and Litigation: A Dialog of Bias in American Sexual and Gender Identity on June 9 at the Guthrie in Minneapolis. He is best-known for his two-part epic Angels in America, and has won the Pulitzer Prize, an Emmy Award and two Tony Awards.

The event aims to explore polarized social attitudes related to sexual orientation and gender identity and their effect on law throughout the United States, and will feature live stage performances by Guthrie actors, along with discussions of excerpts from Kushner’s plays by a panel of legal professionals.

Attorneys around the world also can access the event online at West LegalEdcenter as a live webcast from 2 p.m. to 4 p.m. Central on June 9, and later as an on-demand video.

To enroll in either the live event at the Guthrie or the live webcast on June 9, visit West LegalEdcenter.com, search by program name and continue through the checkout process.

The course, which costs $200, provides 2.0 credits toward the Elimination of Bias requirements in Minnesota, California and Oregon. It provides 2.0 or greater CLE credits toward the Ethics requirements of most other jurisdictions. CPD credit has also been applied for in the United Kingdom.

Posted by Kevin Hunt, senior communications specialist, Thomson Reuters

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See Scalia in a free CLE

Editor’s note: This CLE is no longer available. The podcast excerpt, however, remains on YouTube for viewing.

Part of a continuing legal education event (CLE) featuring United States Supreme Court Justice Antonin Scalia and Bryan Garner, is now available on West LegalEdcenter.

For free.

The unique CLE course from LawProse was based on the book Scalia and Garner co-authored, “Making Your Case: The Art of Persuading Judges,” published by West.

They teamed up for the CLE on July 25, 2008 at the John F. Kennedy Center for the Performing Arts in Washington, D.C. The Kennedy Center has granted West permission to post one hour of the five hour event online.

The CLE excerpt provides a glimpse into how Scalia and Garner presented the points in their book about legal reasoning and argument, brief-writing and oral argument to the live audience.

It’s informative and often entertaining, with several memorable quotes from both men. All profits from the event went to Legal Aid of Washington, D.C.

In addition to the excerpt on West LegalEdcenter, highlights from the CLE – featuring clips from Scalia and Garner’s entire event – also are included in this three minute Westcast video podcast, along with an interview with Garner:

Free career advice webcast

The challenging state of the legal market is forcing many law firms to make tough decisions about their budgets and staffing. Unfortunately, that means many legal professionals are, or will be, looking for new positions.

“The key to surviving is to enhance your profile and establish and strengthen your business relationships,” says Ari Kaplan, author of The Opportunity Maker from West. “There is tremendous upside in the downturn. Businesses are experiencing common pressures and individuals are searching for safety. If you can provide guidance on their concerns or offer them opportunities to stand out, you will enhance your own profile and build a stronger network by creating lasting relationships.”

This Thursday, Feb. 26, Kaplan will lead a free career advice webcast hosted by West LegalEdcenter and West Legalworks at Noon Eastern. The webcast is titled Creating Job Opportunities in a Turbulent Legal Market.

The seminar will help both recently unemployed professionals and those looking to strengthen their careers where they are at. It will focus on the concepts in Kaplan’s book, including self-promotion, asking for advice, key resources and organizations and experimenting with online networking and blogging.

“The silver lining in the current faltering economy is the renewed recognition by many in the professional community that connecting with others is critically important,” Kaplan says. “But the more you sit in your office, the narrower your prospects will appear.”

You can register here for the free one-hour program on West LegalEdcenter.

Kaplan also recently wrote about some strategies for approaching the economic slowdown in an article for The Complete Lawyer. And, he’s now offering a study guide for The Opportunity Maker, which is available here.

Posted by Kevin Hunt, senior communications specialist, Thomson Reuters

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E-discovery expert offers advice

Electronic discovery’s rise as a critical component of civil and criminal cases has been swift.

Mistakes in the records management process can prove costly to the bottom line, and in the courtroom, after e-discovery efforts get underway.

“The problem comes not just in searching for electronic material, it’s the searching for it in dozens of locations,” says Jay Grenig, professor of law at Marquette University Law School. “The costs can become exceptional because of the difficulty in determining where those locations are.”

Grenig says the major part of the cost is in the review of the electronic information that is discovered and logged.

“The real cost comes from the privilege and relevance review, going through these documents to make sure that you have not disclosed something that is privileged or protected by work product,” says Grenig.

Grenig says organizations need to ask three questions:

• What is a record?
• How long are we required to retain them?
• What do we do when it comes time to preserve or protect our records?

Grenig is a co-author of “Electronic Discovery and Records Management Guide: Rules, Checklists and Forms, 2008-2009 ed.” from West LegalWorks, with Mary Pat Poteet and Browning E. Marean. Their book takes a proactive approach to discovery of electronically stored information, with an emphasis on proper planning.

“About a third of the book is devoted to records management,” says Grenig. “If you’re going to control these costs you have to think about it at the beginning. You have to have a program to determine when you should destroy documents. You’ve got to cull. You’ve got to get rid of stuff that you don’t need to keep. Because if you don’t, when the lawsuit comes, you’re going to be going through a lot of overburden in order to get to the vein of ore.” Hear from Grenig about how long records should be kept and the need to stop automatic delete systems (1:20).

“Electronic Discovery and Records Management Guide: Rules, Checklists and Forms, 2008-2009 ed.” is available on the West Web site.

Posted by Kevin Hunt, senior communications specialist, Thomson Reuters

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The future for hedge funds

Hedge funds have been an important part of capital markets for the last several years. When the capital markets were healthy and flourishing, hedge funds were very active in encouraging companies to increase shareholder value.

In the last few months hedge funds have not fared as well, leaving investors and the counsel that represent them looking for answers in the courts.

“With the capital markets in a downturn, hedge funds have faced new problems,” says Stephen Fraidin, partner at Kirkland & Ellis LLP and co-chair of a West LegalEdcenter conference coming up Dec. 11 in New York.

“Hedge Funds: Issues and Opportunities in Today’s Capital Markets” will examine current Issues affecting hedge fund activism, the response to activism, how to prepare and respond to a hedge fund attack, and distressed hedge funds.

“People want guidance and we’re gonna try to give them some guidance,” says Fraidin. “I’m hoping that the various participants on the panels, some of whom typically represent hedge funds and some of whom typically represent companies that are the target of hedge fund activism, are going to be able to have a healthy interchange of views so that the people who attend the conference will get a sense of the two sides of the story.” Hear more from Fraidin in this audio clip (:50).

Conference attendees include hedge fund COOs, CFOs, general counsel, portfolio managers and attorneys representing hedge funds.

To register for “Hedge Funds: Issues and Opportunities in Today’s Capital Markets” call 800-308-1700 or go to West LegalEdcenter.com.

Posted by Kevin Hunt, senior communications specialist, Thomson Reuters

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Free webcast about social networking

If you’re a legal professional and you’re not taking advantage of social networking yet, the time is now. Legal blogs, Web sites and publications have been buzzing for months about the benefits social networks offer a lawyer’s practice.

“It’s important to understand that as a lawyer you have to do more than just stay in the library, be in the courthouse or negotiate contracts,” says Ed Poll, founder of LawBiz Management Company. “There’s more to the practice of law than just applying the craft. Social networking needs to be part of a lawyer’s workday.”

Poll, and management consultant David Nour, will present a free live webcast on West LegalEdcenter titled, “Social Networking for Lawyers” on Tuesday, Dec. 9 at 2 p.m. Eastern.

They can explain how to develop a meaningful online presence on social networking sites that enhance a lawyer’s visibility and search engine ranking, as well as bring in new business.

“It’s really important for lawyers and law firm leaders to understand that their clients are into social networking and this may be just that tool that they are looking for to connect,” Poll says. “Lawyers need to know what’s happening in the technology world, even if they’re not gung-ho on implementing every aspect of it.”

Hear Poll’s suggestion for getting started in social networking, in this audio clip (:42).

Register for the free webcast on West LegalEdcenter.com.

Posted by Kevin Hunt, senior communications specialist, Thomson Reuters

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Is today’s jury listening?

Sonya Hamlin knows what the jury is thinking. No matter what their age, gender, or job. So it’s no wonder lawyers turn to her for advice to help make their case in courtrooms across the United States and around the world.

“Dramatic changes have taken place in how jurors learn and listen, in what they care about and believe in and what new approaches they need from advocates now,” says Hamlin. “Lawyers who are still stuck in yesterday’s format of simply standing up and talking need to understand what else they now need to consider as they plan and present every aspect of a trial.” 

Hamlin cites three major issues that she says “have changed everything radically” in the jury box:

• Technology – “We don’t talk to each other now, we type! We get our information about anything online, on our own, fast and easy,” Hamlin says. “So, learning from someone talking at us has lost its power and credibility. And our attention span is now one and a-half minutes.”
• Generational differences – “We now have four generations sitting on the jury: seniors, baby boomers, generation X and generation Y. They’re almost from different planets. Reaching each one requires new information in order to reach and persuade them.”
• Multicultural diversity – “We have people on juries who have become American citizens but are conditioned by other societies, other governments and other kinds of laws.”

Hamlin is considered a pioneer in courtroom communication, having created and taught the first such course at the Harvard Law School. Today, she lectures worldwide and consults on cases with law firms, analyzing jury issues about cases and what advocacy skills are needed, preparing witnesses, developing strategies and creating visual presentations of evidence.

Hamlin’s landmark books “What Makes Juries Listen” and ”What Makes Juries Listen Today” are now joined by her latest title, from West Legalworks, titled “Now What Makes Juries Listen.” It reflects the changing attitudes and behaviors of today’s jury members and gives new techniques and approaches for every aspect of the trial. 

You can hear more from Hamlin in this Westcast podcast. Hamlin also will be featured in a continuing legal education (CLE) program on West LegalEdcenter, which we’ll update you about when it gets scheduled.

Posted by Kevin Hunt, senior communications specialist, Thomson Reuters

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Live on the Web: West talent show

Like many companies, West conducts an annual employee giving campaign to contribute to nonprofit organizations across the globe. West matches a portion of those gifts to the charities selected.

This year, one of the giving campaign’s showcase events is an employee talent competition – “Thomson Reuters Employees Got Talent” – held at the company’s Eagan, Minn. headquarters.

And, we’re giving you a chance to watch the “Thomson Reuters Employees Got Talent” finals live on the Web, today from 1 p.m. to 2 p.m. Central. Just register beforehand – for free – on the West LegalEdcenter Web site.

The five West employee finalists, showcasing their musical talent, are:

• Steven Wold
• Roger Holmes
• David Brueggemann
• Charles Russell
• Ryan Luse

The winner, selected by a panel of judges from West, will earn $5,000 for their favorite charity!

Last year, West’s Employee Giving Campaign raised nearly $2 million for nonprofit organizations, reflecting the company’s dedication to the communities where employees live and work.

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Free CLE: “Bailout or Washout?”

A free webcast offered by West LegalEdcenter and West Legalworks regarding the Treasury Department’s proposal to buy assets of troubled financial institutions is now available on-demand on the West LegalEdcenter web site.

Participants in the discussion included:

• Chris Bell – Former U. S. Congressman (D-TX), of Counsel, Patton Boggs LLP, Dallas
• Talcott J. Franklin – Partner, Patton Boggs LLP, Dallas, TX; Co-Author, Mortgage and Asset Backed Securities Litigation, published by West
• Micah Green – Public Policy Partner, Patton Boggs LLP; former President and CEO, Bond Market Association
• Thomas F. Nealon, III – Group General Counsel, Real Estate Finance & Servicing Group, LNR Partners, Inc., Miami Beach; Co-Author, Mortgage and Asset Backed Securities Litigation, published by West
• Kevin Wodicka – Director of Investment Management, LNR Property Corporation

The webcast was recorded Monday while the vote on the bailout was taking place in the U.S. House. The proposal was defeated 225 to 208.

In the webcast, the group discusses why the Treasury Department proposal was met with skepticism from Congress and the American public. Critics said it represented a bailout of Wall Street, according to Green, not something “that would affect main street.”

Bell said, with anything, Americans wonder “what’s in it for them.”

The webcast participants analyze the impact of the political pressures, the proposed benefits of government ownership of the assets in the plan and the risks.

The webcast is available to listen to, for free, on the West LegalEdcenter Web site.

With registration, a free white paper also is available about the Treasury Department proposal, written and revised recently by Franklin.

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Bank bailout: Free white paper and webcast

 

As the attention in Washington, D.C. is on a Treasury Department proposal for a $700 billion bailout of major lenders, West LegalEdcenter and West Legalworks are providing some free resources for anyone involved in the mortgage and asset-related securities market to learn more about the bailout proposal.

First, a free white paper titled “The Impact of Securitization on the Legislative Proposal for Treasury Authority to Purchase Mortgage-Related Assets” was just written by Talcott J. Franklin.

He is the co-author of the Mortgage and Asset Backed Securities Litigation Handbook from West, and is a partner and head of litigation in the Dallas office of Patton Boggs LLP.

“Everyone has questions and anger with respect to who caused this mess and why no one acted sooner,” Franklin writes.

“But the fact is, we have to act quickly to reduce the impact of this crisis. When Americans act together, we can overcome every challenge, and we will overcome this one. But if we fall into partisan bickering and the laying of blame, if we are motivated solely by self-interest and not the overall good, if we act rashly and without careful thought, the crisis will grow, as will the sacrifice required to remedy it.”

Franklin adds, “This paper takes no position on whether the Treasury Proposal should be adopted, only that it can be improved. Many excellent points have been raised during the course of the hearings on the Treasury Proposal. This paper points out some additional issues for consideration.”

In addition to the free white paper, a free live webcast titled “Bailout or Washout: An Analysis of the Treasury Proposal to Purchase Mortgage-Related Assets,” will take place Monday, Sept. 29, from 1 p.m. to 2 p.m. Eastern.

The webcast will address a number of questions, including:

• What would the Treasury own if it bought mortgage-backed securities?
• How will the oversight mechanism of Treasury’s investments operate?
• What are the benefits of the proposal? The risks?
• What will determine the success or failure of this plan?
• How will the taxpayers be compensated for their investment?

The webcast will feature Franklin, the Hon. Chris Bell – a former member of Congress and member of the House Financial Services Committee – and Thomas F. Nealon, Franklin’s co-author of the Mortgage and Asset Backed Securities Litigation Handbook. Nealson is general counsel at LNR Partners, Inc.

Again, you can download the free white paper here and register for the free webcast here.

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Webcast: “The Basics of Bank Failure”

West LegalEdcenter is presenting a live webcast, “The Basics of Bank Failure,” at 12:30 p.m. EDT tomorrow, (Wednesday, Sept. 17).

If you can’t catch it live, the 90-minute audio program also will be available on demand following the live program.

The webcast, the first in a West LegalEdcenter series on bank insolvency, brings together a group of seasoned experts who will explore the details of bank failure and the role of regulatory agencies in cleaning up the mess once it’s happened.

The webcast will cover:

• Capital and liquidity failures
• The basics of bank receiverships
• Other grounds for receivership
• The role of the FDIC
• An introduction to the FDIC “superpowers”
• Deposit insurance
• Treatment of uninsured depositors
• Unsecured creditors and other interested parties
• The claims process

Speakers in the webcast include:

-Russell J. Bruemmer, partner at Wilmer Cutler Pickering Hale and Dorr LLP in Washington, D.C.
-John L. Douglas, partner at Paul, Hastings, Janofsky & Walker LLP in Atlanta
-Mitchell L. Glassman, director of the Division of Resolutions and Receiverships at the FDIC in Washington, D.C.
-Thomas P. Vartanian, partner at Fried Frank Harris Shriver & Jacobson in Washington, D.C.
-David Wall, special advisor to the deputy to the chairman of the FDIC, Washington, D.C.

The cost to purchase “The Basics of Bank Failure” is $165. For more information, go to the West LegalEdcenter website.

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“360″ view of hot legal topics

Anticipating what the other side will say and do is part of every litigator’s preparation.

West LegalEdcenter is making it easier to do that with some new webcasts on a few hot legal topics in a “360″ series of online programs, which allow participants to draw on the varied viewpoints of presenters who work at law firms, corporations and government agencies.

They also can fulfill continuing legal education (CLE) requirements at the same time.

Three series of 360 webcasts are underway: 

• A three-part series on records management provides an introduction to records management and compliance readiness.
• A series on mortgage foreclosure also debuted this month and addresses reverse mortgages, subprime litigation and regulatory compliance issues facing attorneys.
• A series on privacy law will feature three webcasts covering privacy enforcement, Internet privacy, and privacy issues and company branding.

For more information, go to the West LegalEdcenter website.

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Legal Education at the Guthrie Theater

A new Westcast podcast features highlights and interviews related to the first production in a  Continuing Legal Education series from West LegalEdcenter and the Guthrie Theater in Minneapolis.

You can view it on the Westcast page.

Or, on our YouTube Channel:

The podcast offers highlights from the first CLE in a unique series at the Guthrie, titled “Merchants of Faith: Bias in the Litigation of Religious Belief.”  It was offered live on March 25, as well as through West LegalEdcenter’s live Webcast.

The entire program is now available to legal professionals through on-demand video on the West LegalEdcenter Web site. Just search for “Guthrie” and go through the checkout process.