News & Analysis as of September 21, 2024

Assignments › Lenders

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An assignment is the transfer of a right or benefit from one party to another party. Assignments can occur in contract or real estate contexts. A contract assignment refers to a situation where one party to a contract transfers his/her rights or benefits under the contract to a third party. In a real estate assignment, an interest holder transfers his/her interest in a particular parcel to another party. less -

Polsinelli Podcasts: Out-of-Court Alternatives to Bankruptcy

Federal Real Estate in a Turbulent Market, Part II

Holland & Knight LLP on 8/15/2024

This is the second of a two-part series addressing special considerations for government lessors in the current commercial real estate market. Part I addressed the risks posed by government downsizing and early lease...more

Hotel Revenues Are "Rents" Under New Michigan Law

Miller Canfield on 7/6/2022

On June 24, 2022, Michigan passed the Michigan Uniform Assignment of Rents Act (MUARA). When it did, Michigan became the first state with a Uniform Assignment of Rents Act that expands the definition of "rents" to include...more

Michigan Adopts Its Version of the Uniform Assignment of Rents Act

Miller Canfield on 6/28/2022

In May 2017, we highlighted the Sixth Circuit’s opinion in Town Center Flats. Briefly, Town Center Flats held that ownership of a commercial property’s rents transferred to a lender when (1) a commercial loan is secured by a...more

Ninth Circuit Weighs in on “Preemptive” Challenges to Lender’s Authority to Foreclose

Patton Sullivan Brodehl LLP on 7/31/2020

Can a California real property owner challenge a lender’s authority to foreclose before a foreclosure sale has occurred? It’s looking less likely with each new appellate opinion....more

The Main Street Business Lending Program – Forms and Agreements

White and Williams LLP on 6/5/2020

On May 27, 2020, the Federal Reserve Bank of Boston (FRBB) released several forms, agreements and instructions (Required Documentation) for Eligible Lenders and Eligible Borrowers pertaining to the Main Street Business...more

When the Same Lender Has Both a Senior and Junior Deed of Trust (Revisited)

Patton Sullivan Brodehl LLP on 5/20/2019

Almost two years ago, Money and Dirt covered a Fourth District California Court of Appeal opinion addressing an apparent split of authority regarding how a lender can enforce senior and junior deeds of trust on the same...more

Restructuring and Insolvency Bulletin: Issue 4 - May 2018: UK High Court Confirms Broad Definition of a “Financial Institution” –...

Dechert LLP on 5/11/2018

The High Court has confirmed it will adopt a broad definition of a “financial institution” for the purposes of the transferability provisions in a loan agreement including: (i) a newly incorporated company with a share...more

Sixth Circuit Court of Appeals Holds Properly Perfected Assignment of Rents Not Property of Bankruptcy Estate

Foley & Lardner LLP on 5/17/2017

In a significant ruling impacting commercial real estate lenders in Michigan, the 6th Circuit Court of Appeals has ruled that an absolute assignment of rents that had been fully perfected (by demanding payment from tenants to...more

Assigned Rents Not Bankruptcy Estate Property After Assignment is Enforced

Miller Canfield on 5/8/2017

On May 2, 2017, the Sixth Circuit Court of Appeals clarified whether a bankruptcy debtor retains any property rights in rents after defaulting on a loan that includes an assignment of rents. The case, Town Center Flats,...more

Developments in Unitranche Financing (2016)

Morrison & Foerster LLP on 8/13/2016

The increasing use of unitranche financing, both domestically and abroad, has created new opportunities for middle market loan participants. However, lenders must understand the legal issues and potential bankruptcy risks...more

Nevada Amends Law Regarding Deficiency Judgment Calculation

Ballard Spahr LLP on 7/22/2015

By amending a statute that limits deficiency judgment amounts in certain cases, Nevada lawmakers have attempted to restore balance as the law applies to commercial properties. The amendments follow a recent wave of litigation...more

California Foreclosure Law: California Supreme Court Grants Review Of The Keshtgar Decision

Miller Starr Regalia on 1/9/2015

As reported in our blog article below, in June the Second District Court of Appeal held that California’s non-judicial foreclosure statutes do not grant a defaulting borrower the right to enjoin a foreclosure sale by alleging...more

UDAAP Council Weekly UDAAP Standards Report - 12/10/2014

Foley & Lardner LLP on 12/12/2014

Every week, courts around the United States issue decisions addressing aspects of civil UDAAP claims. In an effort to illuminate the UDAAP standards, below is a sampling of some of this week’s UDAAP decisions on the...more

Maryland High Court Limits Liability of Assignee Lenders under State's Secondary Mortgage Loan Law

Ballard Spahr LLP on 7/7/2014

In a recent ruling, the Maryland Court of Appeals substantially limited claims of second mortgage loan borrowers under the state's Secondary Mortgage Loan Law (SMLL), holding that an assignee of a second mortgage is not...more

Are Distressed Loan Fund Investors “Financial Institutions” And Why Does It Matter?

Bilzin Sumberg on 5/22/2014

Once again, those of us in the commercial finance world are reminded of the age-old adage caveat emptor. This time the warning is directed at hedge funds and other investors with a penchant for purchasing distressed debt from...more

Failure to Comply with Minnesota's Statutory Requirements in Foreclosure by Advertisement Costs Lender

Winthrop & Weinstine, P.A. on 4/25/2013

Lenders foreclosing by advertisement in Minnesota must comply with many technical requirements. One requirement is "that the mortgage has been recorded and, if it has been assigned, that all assignments thereof have been...more

Middle Market Loan Update

Brownstein Hyatt Farber Schreck on 3/29/2013

The Effect of the Financial Crisis on Middle Market Loan Terms Part 1. Loan Buybacks - In addition to providing an object lesson in the dangers of lax lending standards, the global financial crisis of 2008 gave...more

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Assignments › Lenders

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