Steven Casselberry
Partner
Services & Specializations
Admissions
California;
US Court of Appeals, 9th Circuit;
USDC, Central District of California;
USDC, Eastern District of California;
USDC, Northern District of California;
USDC, Southern District of California
Address
200 Spectrum Center Drive, Suite 1650, Irvine, CA 92618
Office Tel.
949.705.0662
Overview
Steve represents clients in the financial services, real estate and title insurance industries. His financial services clients include community and regional banks, as well as mortgage bankers, brokers, lenders and investors. Steve’s legal services include mitigation, litigation, bankruptcy, foreclosure, and loan and fraud investigation matters as well as business venture formations, problem loan workouts and acquisition of loans in bulk. With his deal-making and litigation experience, creditors often recruit him to resolve complex disputes and recover millions from debtors.
Steve also counsels real estate developers, acquirers, contractors and individual investors in matters involving the acquisition, development and finance of real property, and represents real estate management, title insurance, escrow and construction companies. He routinely establishes joint affiliations compliant with the Real Estate Settlement Procedures Act (RESPA).
Creditor Rights, Workouts & Foreclosure
- Represented a regional bank in the collection of a defaulted $33-million loan secured by retail and multifamily properties. Guided the lender through receivership, foreclosure and bankruptcy proceedings, resulting in the sale of the collateral and recovery of the full indebtedness, receivership expenses and attorneys’ fees.
- Represented a regional bank in the collection of a defaulted $15-million loan secured by a Southern California medical office building. Guided the lender through receivership and bankruptcy proceedings to facilitate the sale of the property, resulting in payment of the outstanding indebtedness, receivership expenses and attorneys’ fees.
- Represented a national lender in the foreclosure of a defaulted $13-million hotel loan secured by Southern California property, including the disposition of the hotel following foreclosure.
- Represented a national bank in the collection of a defaulted $5-million commercial loan secured by trucking and trailer assets operating between California and Mexico.
- Obtained a $6.5-million judgment on behalf of a banking client against a guarantor asserting lender liability claims and alleging the bank failed to obtain valid Gradsky waivers.
- Represented a large California regional bank in the foreclosure and liquidation of collateral, obtaining a deficiency judgment against an uncooperative borrower.
- Represented a bank client in collecting a defaulted loan made to an outpatient surgical center guaranteed by more than 20 sponsoring physicians.
Commercial Lending & Real Estate Finance
- Represented a national lender in the documentation and modification of a $38-million construction loan for a low-income multifamily housing development in Los Angeles County. Structured the financing through fee and ground lease borrowers to qualify the project.
- Represent a national bank in documenting a $35-million acquisition loan for a mixed-use retail, office and residential development.
- Represent a national bank in documenting an $18.5-million loan to refinance a retail shopping center in Central California.
- Represented a national bank in the $7.5-million refinancing of a hotel in San Diego County.
- Represented a regional lender in documenting $12.5 million in financing for affiliated entities owning and operating assisted living facilities.
- Represented a participant lender in a $105-million construction loan for a multifamily development in Newport Beach, closing the transaction less than one week after the participating lenders committed.
Loan Acquisitions & Portfolio Transactions
- Represented a national bank in the acquisition of a $15-million portfolio of performing commercial loans.
- Regularly represent buyers and sellers in the acquisition and disposition of individual loans and loan portfolios, including performing, underperforming, nonperforming and defaulted loans secured by real or personal property, as well as unsecured debt.
Commercial Litigation & Appeals
- Successfully defended a bank against claims involving preservation of personal property collateral, obtaining summary judgment.
- Best Lawyers®, Mortgage Banking Foreclosure Law, 2016-present
- JD, American University Washington College of Law, 1976
- BA, University of California, Los Angeles, 1972
- Panelist. “Commercial Real Estate: Southern California, 2024 and Beyond,” Risk Management Association Orange County Chapter, Newport Beach, CA, May 22, 2024.
- Co-author. “California Appellate Court Invalidates the Ability to Obtain Default Interest on Loans That Have Not Matured,” January 31, 2023.
- Author. “Has The Erosion Of The Parol Evidence Rule In California Impaired Banks’ Ability To Enforce The Terms Of Their Loan Documents?” February 8, 2017.
- Author. “Cyber Crime In The Banking Industry,” May 27, 2015.
- Co-author. “Decon Makes Deeds in Lieu of Foreclosure a More Attractive Option in California for Lenders,” Bloomberg BNA: Banking Report, October 7, 2014.
- Author. “Bank Liability Varies Depending on Cyber Crime Details,” RMA Journal, October 1, 2013.
- Author. “Cyber Crime: Bank Liability for Third Party ‘Hacking’ Losses,” RMA OC Newsletter, October 1, 2013.
- Risk Management Association Orange County Chapter, Board of Directors
- California State Bar Association
- Orange County Bar Association
- “MISSION MEDICAL: Court OKs Deal to Use Cash Collateral,” Troubled Company Reporter, December 29, 2025.
- “Long-time title attorney made partner at California law firm,” The Title Report, April 23, 2024.
- “On the Move,” L.A. Daily Journal, December 1, 2022.
- Boyles, Sumer. “Procopio Welcomes Steve Casselberry to its Orange County Office,” Orange County Business Journal, November 7, 2022.
