David Holesinger

David Holesinger

Baker Donelson

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Playing Zone(-ing) Defense

ZONE(-ING) DEFENSE --- With March Madness in full swing, now is a great time to review how local zoning ordinances can turn a mortgage servicer’s foreclosure layup into a blocked shot. Many U.S. states rely on a judicial...more

4/4/2014 - Foreclosure Local Ordinance Mortgages

NY Court Rejects Recourse Triggers Accepted in Cherryland and Gratiot

In a prior post (“Emerging Statutory Threats to Recourse Triggers”), we tackled Michigan and Ohio statutes that invalidated non-recourse triggers sprung by certain types of insolvency events. As noted there, the statutes were...more

3/17/2014 - Commercial Bankruptcy Commercial Loans Insolvency Recourse Proceedings

Tennessee’s Deficiency Statute and Out-of-State Deficiency Judgments

We've previously written about Tenn. Code Ann. § 35-5-118, which governs deficiency suits in Tennessee. As explained in that post, a lender is typically entitled to recover its full deficiency unless the foreclosure sales...more

11/1/2013 - Appraisal Debt Collection Deficiency Judgments Fair Market Value Foreclosure Full Faith and Credit Lenders

Emerging Statutory Threats to Recourse Triggers

A new type of threat is emerging that may thwart special servicer collections: retroactive state legislation. For most CMBS collection actions involving nonrecourse loans, the issue of springing recourse triggers (so-called...more

7/10/2013 - Bad Boy Liability CMBS Compliance Mortgages Negotiations Non-Recourse Loan Retroactive Legislation

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