SANTA ROSA -- The North Bay is a safe place in terms of mortgage fraud. Dan Lanahan wants to be clear about that.
"We are a regional firm, and this is a growing part of our work, but it's not because there is more mortgage fraud in Sonoma County," says Mr. Lanahan, a partner with Lanahan & Reilley.
However, it is a growing problem in other parts of the country -- including Southern California -- and Lanahan & Reilley's mortgage banking group represents victims nationwide. Recently, the firm opened an office in New York, where the one attorney specializes in mortgage fraud causes.
In Santa Rosa, the firm staffs about seven people in its mortgage banking group, which is headed by Arthur Prieston -- the impetus for Lanahan & Reilley's foray into mortgage fraud law. Mr. Prieston joined Lanahan in 2001, bringing with him the mortgage banking business he cultivated while in private practice in Marin.
"Arthur is known for having done this for years and years," says Rachel Dollar, Lanahan's Santa Rosa-based mortgage fraud litigator.
Ms. Dollar currently represents clients in San Mateo, Texas, Georgia, North Carolina, Oregon, and Southern California. She says Lanahan's appeal can largely be attributed to the fact that clients do not have to educate the firm's staff on the intricacies of the cases. They already understand the basics, and that's worth hiring a lawyer as far away as Santa Rosa.
"That's why our firm is so successful in getting business," says Ms. Dollar. "There is definitely a need in the industry for attorneys who specialize in this area. Even with the travel and additional time that takes, the fact that clients don't have to educate us about the industry or the issues ends up saving them a lot."
Mr. Lanahan agrees that his firm is filling a needed niche.
"We are the curve," he says. "There aren't a lot of law firms in this space. I am sure there are others that do some work for some mortgage companies, but we have a fairly large volume because of the firm's background representing financial institutions."
He adds that while this is a growing part of the firm's practice, it currently represents less than 5% of its business.
"It is a large practice, but we're a large firm," he says.
There are no plans to open more offices, but Mr. Lanahan does foresee hiring more people in Santa Rosa for the mortgage banking group.
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