CDRA's principal is Martha Croog. Martha is a member of both the New York Bar and the Connecticut Bar, and is
admitted to the federal courts for the District of Connecticut. In 1990, Martha started a wholly woman owned law
firm that dedicated itself to serving the mortgage banking industry (Martha Croog, LLC or MCLLC). She still owns
and manages the firm, which practices law before Connecticut courts in all jurisdictions statewide. In a legal practice
sector that is typically male (or mill) dominated, Ms. Croog takes a personalized approach in CDRA's Connecticut consulting business.
Martha practiced securities law in New York City and later, in Connecticut, before transitioning to a principally
default-based litigation practice in Connecticut. Through her predecessor firms, she acted as both issuer and underwriting counsel,
working on documentary and structural issues in private and public securities offerings, including securitized loan transactions.
CDRA's clients may benefit from Martha's securities law background.
CDRA, LLC is a consulting firm in the mortgage-banking sector. It devotes its resources to providing guidance to a
select group of clients seeking to maximize the effectiveness of their business transactions and operations in the state of
Connecticut. CDRA consults on litigation and on regulatory and ethical issues that impact a particular loan, a business policy
or practice, or an entire loan portfolio. CDRA also provides guidance on mortgage banking matters that focuses on the identification
of associated and derivative risks that flow from the risk presented by a client. Risks may be imminent, contingent or inchoate.
With a consulting approach that is specialized, flexible, and multi-disciplinary, CDRA's legal and business advice centers on
client litigation, operations and transactions that originate in Connecticut, although when appropriate, it may enter into
a "CDRA contract" in a case where Connecticut and New York law intersects.
Collaborative consulting optimizes CDRA client benefits. CDRA recognizes that while the interests involved in client
interrelationships may be uniform, they may also be in competition or in conflict, or simply different. Teamwork between
CDRA and its clients, as well as the individuals and entities with whom they interact, is intended to facilitate the reconciliation
of derivative risks, including interrelationships that present independent derivative risks.
If appropriate, CDRA will recommend that a client retain counsel to represent it in litigation. While CDRA will continue
to provide consulting services if the need for counsel should arise during the course of a CDRA contract, there is no
assurance that MCLLC will elect to represent a CDRA client in litigation as lead counsel. In certain cases, MCLLC will
agree to appear in Connecticut court based on the applicable CDRA contract. However, MCLLC's court appearances and attendance
at hearings for CDRA clients may be restricted to "co-counsel" or "non-appearing" managing counsel.
CDRA offers business and legal consulting in litigation, residential and commercial foreclosures in all judicial
districts within the state; strategic loss mitigation workouts; federal and state regulatory compliance; mediation
process resolution; title resolution; homeowner's association and municipal lien delinquencies; blight lien remediation;
bankruptcy litigation; municipal lien cramdowns; and related state and federal appellate practice. The areas also include
the REO stage, whether filed in state or housing court, including title remediation, evictions, ejectments, and closings.
Organizations that can benefit from CDRA services are major national lenders including Wall Street firms, large and small
banks, and mortgage companies with operations in Connecticut. Servicers retained by these entities, their sub-servicers, as
well as local and outside managing counsel on act on their behalf, or on behalf of others, may also benefit. CDRA may consult
with agents and affiliates of its clients, or with other persons involved with the business operations of its clients.
For example, large firms with national satellite offices that maintain a Connecticut presence can benefit from CDRA's Connecticut
practice. Finally, property owners and other individuals may also benefit.
To enhance its consulting services, CDRA offers client training and education. Client education aids in the development of
long-term operational solutions through multi-party conferences and on-site training, as well as internal attorney and paralegal
staff training. MCLLC deals with management issues related to software reporting systems relied upon by our clients. CDRA may
address measures involving data and timeline reporting, as well as document generation and preservation on client designated
litigation management software systems.
For example, a contract default causes derivative risks such as weakened portfolio performance, negative investor or
party perception, lost opportunity and "next step" delays. For each client, CDRA identifies the derivative risks through a
process of differentiation. Because CDRA is not a law firm, its risk assessments may present less potential for bias.
CDRA, LLC
