G. Stephen Caravajal
410 17th Street, Suite 2400
Denver, Colorado 80202
Direct: 303-534-2277 ext 37

Practice areas: Consumer Financial Services and Lender Liability Litigation; Mortgage Origination and Mortgage Servicing; Regulatory Compliance; RMBS Repurchase Litigation; Contested Mortgage Foreclosures; Title Curative and Quiet Title Actions; Commercial and Real Estate Litigation; E-Discovery; Consumer Bankruptcy Litigation; Responding to Third Party Subpoenas


Colorado, 2014
Illinois, 2005
U.S. District Court, District of Colorado, 2014
U.S. District Court, Northern District of Illinois, 2005
U.S. Court of Appeals, Seventh Circuit, 200

Law School:

DePaul University, College of Law, J.D.
Judicial Intern for the Hon. Jack B. Schmetterer, U.S. Bankruptcy Court, Northern District of Illinois


Ohio State University, B.S. Psychology, Minor Criminology
Graduate of the University Honors Program


American Bar Association
Colorado Bar Association
Denver Bar Association


Steve joined MSA in August 2018 with over 13 years of experience in all facets of commercial litigation, creditors’ rights, and regulatory compliance. Steve was previously a litigation associate in the Denver office of a BigLaw firm practicing in the areas of financial services and residential mortgage-backed securities, title insurance defense, and e-discovery. Steve also practiced in Chicago for eight years where he routinely represented clients in consumer financial services and lender liability litigation throughout the State of Illinois.

Steve has represented several of the largest financial institutions, mortgage originators and servicers, and title insurance companies in both state and federal courts throughout the country. He has acted as lead counsel in hundreds of contested proceedings, trials, and appellate matters, including a dozen bench trials. Notably, Steve was part of the trial team and a second-chair in one of the largest trials arising out of the financial crisis of 2008. Steve also has significant e-discovery experience, acting as one of the co-managers of an electronic document review project spanning more than three years and consisting of more than 30 million documents.

Notable Representations:

  • Counsel to the Lehman Brothers bankruptcy estate in a multibillion-dollar trial concerning put-back claims for mortgage loans in more than 250 RMBS trusts
  • Prevailed on summary judgment on behalf of a mortgage servicer on an issue of first impression in Illinois courts regarding assignee liability and a borrower’s rescission notice under the Truth in Lending Act
  • Prevailed on dispositive motions on behalf of mortgage originators and servicers in more than forty-five cases alleging of the Truth in Lending Act, Real Estate Settlement Procedures Act, Fair Debt Collection Practices Act, or Illinois’ Consumer Fraud and Deceptive Business Practices Act
  • Represented several mortgage servicers in litigation challenging the validity of their loans and security instruments due to alleged mortgage licensing violations.  In each case, favorable rulings were obtained that were influential and reflected in the subsequent amendments to the Illinois Residential Mortgage License Act of 1987
  • Prevailed on dispositive motions on behalf of mortgage servicers in more than thirty mechanics lien foreclosures against contractors and subcontractors whose mechanics liens were held to be unperfected or unenforceable with respect to the mortgage servicers.


“Taking A Peek at the PEB Report: A Much Needed Course Correction in the Interpretation and Application of the Uniform Commercial Code”, Legal League Quarterly, Spring 2012

“Under Illinois Law, What Constitutes A Lack of Standing in Mortgage Foreclosures”, Illinois State Bar Association’s Real Estate Newsletter, March 2013 & DuPage County Bar Association’s Brief, Jan. 2013

“Enter the eNote”, DS News, April 2013



“Defeating Claims Under the UCC, RESPA, FDCPA and TILA”, Panelist at the 2012 Legal League 100’s Servicer Summit, Sept. 2012

“Overview of Basic Foreclosure Law for the Real Estate Practitioner”, Presenter at continuing legal education seminar sponsored by Premier Title, Oct. 2012


Attorney Registration No.:

Colorado (47301)

Illinois (6284718)