Client Alert
An Introduction To The Loan Guarantee Program
November 17, 2008
Because of the rapidly changing conditions in the financial markets, we have established this special series of Client Alerts to advise you of the newest economic and legal developments and their wide-ranging business implications.
Details about the landmark Emergency Economic Stabilization Act (EESA) continue to evolve and emerge. Currently, because the U.S. Treasury announced that it will not be purchasing mortgage assets under the new law, financial parties are turning their attention to the mortgage loan guarantee program. This guarantee is designed to ensure that lenders collect expected revenues from "troubled assets."
Womble Carlyle attorneys have been advising clients on the mortgage lending crisis and related legislative and regulatory developments. In this, our latest in a series of EESA-related Client Alerts, we examine the EESA loan guarantee program and the possible opportunities it presents.
Click here for the Full Client Alert regarding the Introduction To The Loan Guarantee Program.
For additional information please contact the one of the following attorneys or the Womble Carlyle attorney with whom you usually work.
Rick Rice, (336) 721-3609
(Insurance Industry Team)
Cal Adams, (336) 721-3674
(Insurance Industry Team)
Garth Gersten, (919) 755-8171
(Insurance Industry Team)
Womble Carlyle client alerts are intended to provide general information about significant legal developments and should not be construed as legal advice on any specific facts and circumstances, nor should they be construed as advertisements for legal services.
IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice within this client alert is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in a client alert.
