News & Analysis as of September 21, 2024

Foreclosure › Construction Loans

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Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -

Distressed Real Estate During COVID-19: Mezzanine Loans Behind Construction Loans—Special Considerations and Intercreditor...

Pillsbury Winthrop Shaw Pittman LLP on 10/27/2020

Construction loans with companion mezzanine loans raise a host of concerns that are unique to more standard ICAs between a mortgage lender and a mezzanine lender. An intercreditor agreement (ICA) involving a construction...more

Foreclosure Deficiency: Construction Loan vs. Home Improvement Loan

Snell & Wilmer on 8/26/2019

In a recent Arizona Court of Appeals case, Helvetica Servicing, Inc., v. Pasquan, 2019 WL 3820015, (8/15/19), the Court of Appeals addressed the distinction between (1) a construction loan (or refinance of same) and (2) a...more

Trustee Has No Duty to “Verify” Validity of Loan Assignment Before Foreclosure

Patton Sullivan Brodehl LLP on 8/25/2019

A trustee in charge of administering a trust has many duties. A trustee appointed pursuant to a deed of trust, however, is different. The duties of a deed of trust trustee are exceptionally narrow. A recent opinion...more

Real Estate Finance: Massachusetts

WilmerHale on 8/7/2017

A Q&A guide to real estate finance law for borrowers and lenders in Massachusetts. This Q&A addresses state laws relating to security instruments, usury laws, limitations on personal liability, recording requirements and...more

Recent Arizona Case Law and Legislative Developments Affecting Real Estate Lending

Clark Hill PLC on 3/16/2016

The following information accompany a presentation Mike gave to members of the Arizona Commercial Mortgage Lenders Association (ACMLA) on March 8, 2016. A summary of legislative amendments enacted during the most recent...more

Partial Subordination Agreement not Involving or Affecting Mechanics Lien Claimant Priority is Enforceable in Nevada

Snell & Wilmer on 10/16/2015

When visible construction begins, Nevada law says mechanic’s liens attach to the construction site. A construction lender wants to ensure that its deed of trust securing the construction loan has first priority to the...more

Colorado Supreme Court: Construction Lender's Subsidiary Is Not a Subsequent Purchaser - Negligence Claim May Not Be Asserted...

Stinson LLP on 3/9/2015

Lenders and contractors may want to take additional precautions before they take title to a newly constructed home through foreclosure (or deed in lieu of foreclosure) following a recent decision by the Colorado Supreme...more

General Contractors Beware of Subordination Clauses

Ervin Cohen & Jessup LLP on 12/11/2014

In California, a general contractor can usually rest assured that in the event of nonpayment, it can rely upon the remedy of a mechanics lien, which remedy is, in fact, even a constitutional right....more

Vendees' Liens—Construction Lenders Beware!

Snell & Wilmer on 11/3/2014

A recent Arizona Court of Appeals decision highlights a lien priority risk for secured construction lenders when the financed project fails. The problem—known as a “vendee lien”—is most likely to arise when up-front deposits...more

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Foreclosure › Construction Loans

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