Arnold & Porter Advises Astoria in Agreement to Sell Non-Performing Residential Mortgage Loans in Bulk Sale

New York, New York, July 25, 2014 -- Arnold & Porter LLP is serving as special counsel to Astoria Financial Corporation (NYSE: AF), the holding company for Astoria Bank, in its recently announced agreement to sell certain non-performing residential mortgage loans with a carrying value disclosed as in excess of $190 million to Credit Suisse (the "NPL Sale").  The NPL Sale is expected to close on or about July 31, 2014, subject to usual and customary closing conditions. 

The Arnold & Porter corporate team is led by partner Robert C. Azarow, with assistance from counsel Stephanie Nygard and associate Dora Pulido, all of whom are resident in the Firm’s New York office.