BANKING/REAL ESTATE

FAVATA & WALLACE, LLP has extensive experience in representing buyers, sellers and institutional lenders in both residential and commercial real estate transactions.

In the residential real estate area, the firm has represented institutional lenders in condominium, cooperative, and one to four family loan transactions closing over two thousand (2,000) transactions in the past two years. Because of our expertise and quality control, we are one of the few firms in Nassau County authorized to close "CEMA's" and cooperative loans for J.P. Morgan Chase Bank, Wells Fargo Bank, Countrywide Home Loans and HSBC Mortgage Corp.. We are very familiar with the strict time constraints placed on lenders and the requirements of the secondary market. It has been our practice to provide 24 hour turnaround time to institutional lenders on residential real estate transactions.

Our fully automated residential lending practice includes a Local Area Network with a proprietary software package that includes all Fannie Mae/Freddie Mac and FHA documents (all Notes, Mortgages, Riders, etc.) The system's capabilities has permitted us to customize the program to include both "lender-specific" documents as well as firm drafted forms.

Our primary goal is always the protection of the lender's interest and saleability of their loans, while at the same time ensuring high quality service to their customers and referral sources.

The firm has a wide variety of experience in the commercial real estate lending area, having represented both institutional lenders as well as developers in financing transactions. This experience includes representing lenders in Industrial Development Bond financings, revolving credit lines, the acquisition and refinancing of multi-family buildings, commercial properties, shopping centers, as well as leasehold transactions. Additionally, we have represented developers in the acquisition and refinancing of commercial properties.

FAVATA & WALLACE, LLP also provides legal services in the general corporate area, acting as general counsel to a number of closely held corporations and the sales and purchases of small businesses. The firm is also active in such matters as Estate Planning and Administration, the formation of closely held corporations, negotiation and drafting of stock option agreements, commercial leases and shareholder agreements, as well as a variety of other general corporate work.

LITIGATION

FAVATA & WALLACE, LLP has a highly regarded litigation practice, with a variety of litigated matters pending, including tort claims, contract claims and commercial matters. The firm has extensive experience representing both plaintiffs and defendants in all areas of litigation including real estate title issues, motor vehicle accidents, products liability, labor law, construction litigation and personal injury actions.

In addition, our attorneys have represented parties in declaratory judgment actions determining insurance coverage questions, breach of contract actions and fraud claims.

Our attorneys have experience in all phases of litigation matters from filing of initial pleadings to conducting depositions and trial and appellate practice. Our attorneys have practiced in the New York State Supreme Court, United States District Court, Bankruptcy Court, Surrogate's Court, as well as State District and County Courts.