Lawyers Bellyaching Over Exclusion From Fannie, Freddie "Assembly Line Foreclosure Attorney List"

The Connecticut Law Tribune reports:

• To most Connecticut foreclosure attorneys, it's known as "the list." Inclusion is supposed to guarantee not only prestige in the legal community but, more importantly, a massive flow of foreclosure cases at a time when there's money to be made in volume work.

• Mortgage giant Fannie Mae maintains the primary list, called the retained attorney network, and it includes about 140 select law firms in 31 states. Many of those chosen firms also comprise the Freddie Mac designated counsel list of about 50 members.

• So what's the big deal?

For more, see Elite Lists for Foreclosure Work Under Scrutiny (Firms frustrated over difficulty in qualifying for work on Fannie Mae and Freddie Mac foreclosures; Connecticut attorney general is investigating).

For more on the Connecticut attorney general inquiry on how Fannie Mae, Freddie Mac, and mortgage-processing services company Lender Processing Services Inc. select law firms for foreclosure services, see:

• The Wall Street Journal: Conn AG Seeks Information On Foreclosure Law Firms (requires subscription; if no subscription, try here, then click link for the story),
• Connecticut Attorney General press release: Attorney General Investigates Selection Process For Law Firms, Marshals Handling Foreclosures,
• Go here for Connecticut AG Blumenthal's letters to LPS , Fannie, Freddie requesting information.