News & Analysis as of

Forbearance Agreements

Husch Blackwell LLP

Credit Risks Likely to Rise as 2024 Draws to a Close

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A strange confluence of geopolitical events, labor unrest, softening consumer demand, and supply-chain logistical issues could leave lumps of coal in the stockings of lenders this holiday season. The story begins in the Red...more

Womble Bond Dickinson

Essential Strategies for Managing Maturing CRE Loans in Today's Market

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The commercial real estate industry is facing an impending tsunami of $2 trillion in debt maturities, with an estimated $929 billion coming due this year. If you will be caught in this net because the loan secured by your CRE...more

Holland & Knight LLP

CFPB Proposes New Restrictions on Mortgage Servicers Before Commencing Foreclosures

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The Consumer Financial Protection Bureau (CFPB) on July 10, 2024, announced a proposed rule that would require servicers to more intently assist borrowers throughout a "loss mitigation review cycle" before being permitted to...more

Tonkon Torp LLP

Understanding Workout Agreements for Commercial Real Estate Loans in Default

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When commercial real estate loans go into default, workouts are often pursued to resolve the default by agreement. What are the common forms of workout agreements? For commercial real estate borrowers in default, it’s...more

Lewitt Hackman

Franchisee 101: Extra Cheesed Franchisee

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A federal district court in Texas denied a preliminary injunction filed by a franchisee (“EYM”) after Pizza Hut, as franchisor, terminated the franchise agreements....more

Morrison & Foerster LLP

Federal Circuit Wades Into Article III Standing in Patent Cases Once Again

In the precedential decision of Intellectual Tech LLC v. Zebra Techs. Corp., the U.S. Court of Appeals for the Federal Circuit reversed a ruling from the U.S. District Court for the Western District of Texas that dismissed a...more

Holland & Knight LLP

Making Lemonade from Lemons: A Mortgage Lender's Guide to Successful Loan Workouts, Part 4

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The first three articles in this series took you through the steps for developing a workout strategy. If you have followed those recommendations, you understand where you are and where you want to be. You have also developed...more

Amundsen Davis LLC

Forbearance Agreements: What Lenders Need to Know

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After an Event of DefaultContract occurs, it is important to understand the options available to the Lender other than demanding repayment or simply waiving the default. A Forbearance Agreement allows the Lender to preserve,...more

Holland & Knight LLP

Making Lemonade from Lemons: A Mortgage Lender's Guide to Successful Loan Workouts, Part 2

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If you are a mortgage lender who followed the recommendations in the first article in this series, then you should have a solid grasp of your mortgage portfolio. You have identified the relevant players and their respective...more

Goodwin

CFPB Files Complaint and Proposed Final Judgments Against Higher Education Assistance Agency and National Collegiate Student Loan...

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​​​​​​​On May 6, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it filed a complaint ​and two proposed stipulated final judgments to resolve its claims against the National Collegiate Student Loan...more

Akin Gump Strauss Hauer & Feld LLP

FCC Votes to Adopt Order Reinstating Net Neutrality Rules

Key Points - On Thursday, April 25, the FCC voted 3–2 to reinstate the Commission’s net neutrality framework by reclassifying broadband Internet access service as a Telecommunications Service, which is regulated under Title...more

McDermott Will & Emery

[Webinar] Structuring and Intercreditor Dynamics in Tax Credit Transfers: Lender Perspectives and Considerations - May 8th, 12:30...

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Join us for our newest webinar series, Energy Transition & Infrastructure Private Credit. Over the course of the series, hear from McDermott lawyers and industry-leading guest speakers as they discuss different topics shaping...more

Orrick, Herrington & Sutcliffe LLP

VA announces updates to loan repayment relief for borrowers affected by Covid-19

On February 9, the Department of Veterans Affairs (VA) issued a circular to consolidate updates related to VA’s disaster modification and loan deferment options. Effective February 9, the circular reiterates the options for...more

Rosenberg Martin Greenberg LLP

Maryland Appellate Court Addresses Obligation of Tenant Shut Down By COVID Order To Pay Rent

Nearly four years after the depths of the COVID-19 pandemic, issues concerning the legal consequences of executive and legislative orders shutting down business operations are still working their way through appellate courts...more

Freiberger Haber LLP

The First Department Dismisses COVID-19 Based Frustration of Purpose and Impossibility Related Defenses In Rent Arrears Action

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Among the problems resulting from COVID-19, is the pandemic’s effect on business. Numerous businesses were forced to close due to lock downs and supply chain issues. The economic slowdowns and business closures caused by...more

Troutman Pepper

In the Ninth Circuit Precision is Required in an Offer of Judgment

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A U.S. District Court in the Southern District of California recently held that a Federal Rule of Civil Procedure 68 offer of judgment must clearly state that attorneys’ fees and costs are limited or waived, as Arvest Central...more

Ballard Spahr LLP

Dept. of Education issues framework for student loan servicer accountability

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The White House signaled last week that, with the resumption of federal student loan payments, federal student loan servicers can expect to face increased scrutiny. The Department of Education issued a “Framework for Student...more

Ruder Ware

Collections in a Post-COVID-19 World

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As a collection and banking attorney, I am often asked whether (or when) I think collections will restart now that we are somewhat “beyond” COVID-19, although not fully. In my own practice I have seen an increase in demand...more

Orrick, Herrington & Sutcliffe LLP

FHFA revises policies for Covid-19 forbearance on GSE mortgages

On October 16, the Federal Housing Finance Agency (FHFA) announced it will revise how Fannie Mae and Freddie Mac (GSE) single-family mortgages are treated for borrowers who have entered Covid-19 forbearance under the GSEs’...more

Cadwalader, Wickersham & Taft LLP

Forbearance Agreements: I Can’t Help You With Your Troubles If You Won’t Help With Mine

Given the current state of the market and many prognosticators writing about impending distress and doom and gloom, I thought it would be appropriate to dust off the topic of forbearance agreements. Forbearance agreements are...more

Vinson & Elkins LLP

[Hybrid Event] Navigating the Distressed Commercial Real Estate Environment Ahead: Out of Court Considerations - June 7th, New...

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In this program, attorneys in the Restructuring & Reorganization, Real Estate, Tax, and REIT Capital Markets practices discuss the various out of court considerations that commercial real estate enterprises will want to...more

Ballard Spahr LLP

Restructuring Underperforming CRE Loans

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Within the next 18 months, approximately $936 billion in commercial real estate and multifamily debt is due to mature. Analysts expect delinquency rates to continue to climb, as interest rates rise and traditional capital...more

Bradley Arant Boult Cummings LLP

Mortgage-Related Complaints to CFPB in 2022

On March 31, 2023, the CFPB released its annual consumer complaints report. Although there was a significant increase in non-mortgage related complaints, the volume of mortgage-related complaints decreased compared to...more

Dechert LLP

So, You Exercised Your Proxy Rights Pre-Petition, Are You Good?

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Yes, says the Delaware Bankruptcy Court in the case of CII Parent, Inc., cementing the advice routinely given by bankruptcy counsel to borrowers in default. We always counsel borrower clients in default of the risk associated...more

Orrick, Herrington & Sutcliffe LLP

HUD extends Covid-19 forbearance through May 31

On April 7, HUD issued Mortgagee Letter 2023-08, which extends through May 31 the final date for borrowers to request Covid-19 forbearance and home equity conversion mortgage (HECM) extensions. The extension is intended to...more

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