Isaac M. Gradman

Areas of Practice:

Mr. Gradman is one of the country’s leading experts in mortgage-backed securities litigation and other legal issues stemming from the mortgage crisis. He provides services to clients in litigation, mortgage finance & structured products and business law.


While practicing as a commercial litigator at Arnold & Porter (formerly Howard Rice) in San Francisco, Mr. Gradman was involved in some of the earliest litigation arising from the subprime mortgage crisis, including the representation of PMI Mortgage Insurance Co. in a suit against WMC Mortgage Corp. and its parent, GE Money Bank, over misrepresentations relating to a $1 billion pool of subprime mortgages. Prior to joining Perry, Johnson, Anderson, Miller & Moskowitz in 2012, Mr. Gradman was the managing member of Gradman Law from 2010 to 2012. At Gradman Law, he represented clients in loss mitigation, litigation and putback efforts in connection with mortgage derivatives and insurance products.

Education and Memberships:

Mr. Gradman received his B.A. in Political and Social Thought with Highest Distinction in 2002 from the University of Virginia, where he was a Jefferson Scholar, an Echols Scholar and a member of the Raven Honor Society. In 2005, he received his J.D. cum laude from New York University School of Law, where he was a Dean’s Scholar and a Robert McKay Scholar. Isaac also clerked for two years for the Hon. Joan Lenard in the United States District Court in the Southern District of Florida. Mr. Gradman is admitted to practice law in California.

Selected Publications and Presentations:

  • Featured Speaker "Investor Hot Legal Topics Briefing" AMI RMBS / Mortgage Investor Breakfast Briefing Series. June 2016
  • Author, "Cracks in the Foundation," The American Lawyer (Spring 2013 Litigation Supplement)
  • Founder and Author, The Subprime Shakeout (July 2008 – Present).
  • Featured Speaker, "GSE and Private Label Putbacks – Is the Fat Lady Ready to Sing?" Compass Point Research and Trading, LLC (September 2012).
  • Featured Speaker, "Trends and Forecasts in Mortgage Backed Securities Litigation," State Bar of California, Business Law Section, Consumer Financial Services Committee (February 2012).
  • Featured Speaker, "The Subprime Shakeout: Trends and Forecasts in Mortgage Backed Securities Litigation," San Francisco Bank Attorneys Association (December 2011).
  • Editor, Way Too Big to Fail, by William A. Frey, (Greenwich Financial Press, October 2011).
  • Featured Speaker, "Mortgage Repurchase Risks" and "Mortgage Repurchase Risk Update," Compass Point Research & Trading, LLC (August 2010 & May 2011, respectively).
  • "FDIC Sues LPS and CoreLogic Over Appraisal Fraud; Shows Investors Leaving Money on the Table,The Big Picture (May 31, 2011).
  • Featured speaker, "Mortgage Finance - Origination, Servicing and Foreclosure," Gerson Lehrman Group Roundtable, San Francisco, CA (March 2011)
  • Featured Speaker, "Investor Putbacks, MERS & the Capital Markets," Midwinter Housing Finance Conference, Park City, UT (February 2011).
  • "Who Really Owns the Mortgage on Your Home?KCSG Television Online Edition (July 2010).
  • "Treasury Official Speaks Out About Excessive Risk Taking," The Wall Street Cheat Sheet (October 2009).
  • "Constitutional Rights: Using Loss-Shifting to Reduce Foreclosures," The Daily Journal, at 7 (October 2009).
  • "Why Should Servicers Get A Safe Harbor? How One Investor’s Lawsuit Forced Bank of America to Seek Shelter in Washington," Lombard Street (August 2009).

Isaac M. Gradman Isaac M. Gradman
(707) 525-8800
(707) 545-8242
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