A major international law firm had engaged with a first-tier financial institution to defend its large-scale portfolio of lawsuits relating to mortgage modifications and foreclosures. The financial institution encouraged our client to charge a flat fee for each claim and, because of this arrangement, our client needed a solution for managing the voluminous portfolio work without the use of associates.
Hire Counsel Solution
In order to work under the flat fee arrangement, our client asked Hire Counsel to identify high-level secondment attorneys with consumer lending and foreclosure experience. Our attorneys enabled the firm to efficiently respond to the very unpredictable workloads without increasing overhead; this also allowed the client’s full-time associates to focus on more sophisticated billable work. Hire Counsel provided teams of experienced attorneys with backgrounds in consumer lending and foreclosure law from several markets across the country, including New York, Chicago, Los Angeles, San Francisco, Denver and St. Louis. These high-level attorneys, while working under the firm’s direction, helped to manage claims, draft motions and handle court appearances.
Our ability to provide quality, high-level Secondment Attorneys to our client has resulted in:
- Increased Revenue for the Firm: Managed 13,000 loan portfolio cases resulting in higher level work from the financial institution, which increased firm revenue.
- Headcount Flexibility for the Firm: Organized quickly when an unexpectedly high volume of cases came in. In many instances, the Secondment Attorneys provided better resources and experience than firm associates and had more direct impact on the work.
- Competitive Advantage and New Clients: Allowed our client to take on new clients using this established model, which they continue to market to potential clients. Other firms do not have a model established to handle this type of portfolio work.
- Growing the Firm’s Brand with Quality Candidates: Our client has hired several Hire Counsel Secondment Attorneys permanently, which speaks to the quality of our candidates, their experience and their credentials, as well as Hire Counsel’s ability to match culture and fit.