Brace

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Law360 (October 6, 2020, 3:50 PM EDT) —

Amy Sorenson

Kelly Dove

Tanya Lewis

Nevada was an epicenter of the Great Recession and housing crisis of 2008-2009. Home prices plummeted, accompanied by widespread job losses and decreases in income. Homeowners defaulted on mortgages and, in some cases, walked away from their homes.

With such significant personal and financial impacts on borrowers also came significant financial impacts on lenders. While the effects of mortgage defaults were widely reported, lenders also sustained substantial losses as the