Phil Hosp is a litigation partner who knows how to win in a courtroom, at the settlement table, or in arbitration. By understanding his clients’ business and objectives first, he provides pragmatic and creative strategic advice to leading commercial and investment banks, direct lenders, financial services companies, and private credit funds in disputes involving real estate, acquisition and bridge financing, asset-based lending, equipment financing, project finance, and Property Assessed Clean Energy (PACE) financing.
Prior to becoming a lawyer, Phil served four years as a tank officer in the U.S. Army, where he achieved the rank of Captain and received the Bronze Star in one of his two tours in Iraq. Because of his education and real-world experience, Phil understands that organization, preparation, strategy, and speed are of the utmost importance in litigation. He fights hard for clients and seeks every opportunity to win cases early and fast.
For over a decade, Phil has represented clients in state and federal courts in California, as well as other parts of the country, in complex commercial litigation involving allegations of lender liability, mortgage fraud, breach of contract, unfair or deceptive acts or practices, unfair competition, securities fraud, and consumer protection claims. He has also defended clients in investigations and litigation by federal and state authorities, including the Federal Trade Commission (FTC), the Securities Exchange Commission (SEC), and the California Department of Financial Protection and Innovation (DFPI). For example, in In re Sanctuary Belize Litig., Phil defended claims brought by the FTC alleging over $100 million in restitution and damages for allegedly deceptive marketing of a real estate development located in Belize.
Working closely with Foley transactional attorneys in real estate, finance, and energy, Phil also reviews compliance and document retention programs, contracts, and lending policies through the lens of a litigator. By applying his traditional business litigation experience, he is able to anticipate and address possible regulatory compliance issues and potential contractual or investment disputes. Throughout his career, Phil has been selected for inclusion in the Southern California Super Lawyers® Rising Stars lists (2014–2020) and authored publications relating to the regulation of mortgage-backed securities and credit rating agencies, which have been cited by various journals in the finance and banking industry.
Phil is also active in local civic affairs. He currently serves as a mayoral appointee and vice-chairman of the board of directors of the Pasadena Center Operating Company, and as an ad hoc member of the Rose Bowl Operating Company board of directors.
Phil earned his law degree from Loyola Law School (J.D., 2009) and his bachelor’s degree from Boston University Questrom School of Business (B.S., 2002).
Author, “Problematic Practices of Credit Rating Agencies: The Neglected Risks of Mortgage-Backed Securities,” Lessons from the Financial Crisis: Causes, Consequences, and Our Economic Future, John Wiley & Sons (2010)
Author, “Problems and Reforms in Mortgage-Backed Securities: Handicapping the Credit Rating Agencies,” Mississippi Law Journal, Vol.7, No. 4 (2010)
Admissions and Professional Memberships
Phil is admitted to practice law in California as well as before the U.S. Court of Appeals for the Ninth Circuit, the U.S. District Courts for the Central, Northern, and Southern Districts of California, and the Eastern District of Michigan.
Phil is a member of the American Bar Association and the State Bar of California.