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Advancing Agriculture: Security Interests and Article 9 Challenges (Part 1)
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ConsumerFi Podcast with Eric Johnson: The New Administration's Impact on the Auto Sales and Lending Industries
Advancing Agriculture - Identifying and Addressing Distressed Debts
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
Over the course of my career, I have had the privilege of working with and representing numerous construction lenders (and borrowers/developers) in the financing of some of the largest commercial projects in the United...more
In light of the current economic climate, real estate lenders and borrowers will certainly be communicating with one another frequently concerning potential loan modifications and accommodations. It is prudent for lenders to...more
Financial institutions, lenders, and servicers should take note that the California Supreme Court affirmed a Court of Appeal decision confirming there is no duty for a lender to “process, review and respond carefully and...more
Modifying a loan can sometimes cause a loss of lien priority. It all depends on the facts underlying the modification, and even the original loan....more
Watch Real Estate Finance Shareholder Seth Eaton discuss loan modifications and how they have evolved throughout the COVID-19 pandemic. Seth outlines several different phases of loan modifications and highlights key points...more
Since the end of 2017, we have been talking about the discontinuation of LIBOR as a reference rate for borrowers who finance with floating rate loans. The December 2021 end date is fast approaching, but much work remains to...more
The tragic and widespread effects of COVID-19 continue to unfold on a daily basis. The pandemic’s impact from both a public health and economic perspective has been literally unfathomable. For commercial real estate owners,...more
Before the coronavirus hit, the real estate industry was riding an all-time high. Global CRE investment was at its highest level ever, home building was up, and developers were eager to use the industry’s continued momentum...more
While the ramifications of the Covid-19 pandemic for real estate lenders and borrowers will unfold over time, at this point we know that lenders and borrowers will be communicating frequently and extensively regarding...more
On April 7, 2020, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Consumer...more
The Coronavirus Aid, Relief, and Economic Security Act or the “CARES Act” along with recent guidance from bank regulators have increased the flexibility banks can offer to borrowers and created new opportunities for lending....more
Loans secured by a deed of trust typically provide that upon default (commonly, missed interest payments) the lender may elect to “accelerate” the loan, making the entire balance of principal and interest due....more
Managing Borrower Expectations - In the immediate term, most Lenders are considering modifications that offer (usually on request only and subject to normal underwriting and credit review) a 60–90 day deferral of payments...more
As the nation engages in social distancing and takes other steps to attempt to slow the spread of COVID-19, players in the commercial real estate space are considering what impacts the virus will have on their business and...more
The Federal Deposit Insurance Corporation (the “FDIC”) issued a statement on March 13, 2020, encouraging financial institutions to take prudent steps to assist customers and communities affected by the Coronavirus Disease...more
On August 5, 2019, the California Court of Appeal for the Second District held that a lender owes no “tort duty of care during a loan modification negotiation.” Sheen v. Wells Fargo Bank, N.A., ___ Cal.Rptr.3d ___, 2019 WL...more
Lenders must comply with a constantly changing series of State and Federal laws and regulations. When loan relationships sour, and lenders seek to collect, borrowers and guarantors may allege the lender has violated some...more
In the recent case of Daniels v. Select Portfolio Serving, Inc., the California Court of Appeal has held that a lender may be liable for the negligence and misrepresentations of the lender’s servicer, without any contractual...more
A recent decision by the Massachusetts Court of Appeals highlights some of the challenges lenders may face when seeking the dismissal of allegations of unfair and deceptive lending practices in connection with a loan that...more
For years, the typical post-default strategy of secured lenders has been to foreclose the collateral through the power-of-sale contained in the deed of trust, credit the foreclosure proceeds to the outstanding loan balance,...more
The U.S. Court of Appeals for the Sixth Circuit recently addressed both the timing and scope of “prior express consent” under the Telephone Consumer Protection Act (“TCPA”). The plaintiff in Stephen M. Hill v. Homeward...more
Foreclosure defense and bankruptcy often go hand in hand, but sometimes it seems like the left hand doesn’t talk to the right. This has proven especially common with bankruptcy plans that propose to “surrender” real property...more
Introduction - Following an economic downturn, lenders are inundated with lender liability suits typically based on purported promises to extend the maturity dates of loans, alter the terms of loan agreements, or to...more
The California Court of Appeal reversed a lower’s court’s dismissal of a lawsuit by a borrower alleging that her lender breached an agreement to offer a permanent loan modification after she made all required payments under a...more