Williams Mullen's Comeback Plan: Part IV - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
Updating Lenders' Form Loan Documents
Podcast: Questions & Concerns About Documentation: A Conversation with Colin Adams, M-III Partners
Podcast: Credit Funds: Credit Default Swaps in the Distressed Limelight
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
The fact that commercial transactions can very easily become complex is not a novel statement. When financial institutions lend money to commercial entities, the basic documentation required to evidence the loan, promise to...more
In Enter. Bank v. The Ingros Fam. LLC, et al., 2022 WL 2283392 (Bankr. W.D. Pa. June 23, 2022), a lender faced a potentially costly decision when it mistakenly left the word “The” from a borrower’s name. In Ingros, First...more
The New York State Supreme Court, County of New York (the “Court”) decided in Atlas Brookview Mezzanine LLC v. DB Brookview LLC, on November 18, 2021, that an accommodation pledge entered into in connection with a mortgage...more
Real Property Update - Foreclosure / Return of Original Loan Documents: Foreclosure plaintiff entitled to return of its original loan documents in absence of final judgment canceling note – Wilmington Sav. Fund Soc’y FSB...more
A recent decision of New York’s highest court potentially strengthens the ability of lenders to bring suits against third parties for participation in a borrower’s breach of single purpose entity/bankruptcy remote loan...more
Most real estate attorneys would typically be dismissive of a transaction that places a deed in escrow as collateral for a loan. This is because it is universally known that any loan term that interferes with a borrower’s...more
A consequence of the COVID-19 pandemic is that many companies are unable to operate their businesses partially or completely. As a result, they have been compelled to seek relief from their landlords, vendors and lenders. ...more
Last week, the Texas Supreme Court issued a significant decision in favor of Texas home-equity lenders in Federal Home Loan Mortgage Corporation v Zepeda, No. 19-0712, answering “yes” to the following certified question from...more
The development of real estate projects, including hotels and master planned communities in Los Cabos and other places in Mexico, commonly requires financing by banks and other institutional lenders. This article presents an...more
Almost every loan document package contains a provision that dictates how notices should be given to each of the parties. This is done so that there is clarity as to how to give notices, and whether any such notices have been...more
Financing arrangements are like the themes and tonality in a musical composition. Different aspects of the financing process occur at different points in the real estate transaction. Yet, most real estate buyers depend...more
To sue under RESPA, one must have signed the loan, not just the mortgage. RESPA creates a cause of action but says only “borrower[s]” can use it. 12 U.S.C. § 2605(f). Accordingly, the Sixth Circuit joins the Fifth and...more
Two recent Massachusetts Appeals Court decisions offer both clarity and caution to mortgage lenders seeking to enforce their loan documents. These decisions address the importance of properly drafting prepayment provisions in...more
As previously reported, on April 18, 2019 the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2019-06 setting forth new documentation requirements for down payment assistance provided by...more
On April 18, 2019 the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2019-06 setting forth new documentation requirements for down payment assistance provided by government entities to be used...more
On April 18, 2019, the Florida Supreme Court issued a surprise ruling withdrawing its January 4, 2019 opinion in Nationstar Mortgage LLC v. Glass. ...more
In a case with potentially broad implications, the Sixth Circuit becomes the first federal circuit court to hold that the Truth in Lending Act provides no right to rescind a loan modification agreement entered into with a...more
In an effort to summarize the highlights of the LEAN Email Blasts that we receive, we at Pepper Hamilton are providing this quick synopsis of the latest LEAN update. ...more
Enforcement of a Commercial Loan After the Property Securing the Loan is Sold or Transferred - Enforcement of due-on-sale clauses started growing in popularity in the 1970s as a result of instability in the economy and...more
N.C. Gen. Stat. § 45-36.6(b) provides that if a secured party erroneously records a release or satisfaction of a security instrument, then the secured party can file a document of rescission that will effectively rescind the...more
Shopping centers in Florida—and across the country—are increasingly facing financial stress due to factors such as Internet commerce and rent pressures. Rents generated from a shopping center are usually pledged as...more
Deutsche Bank Trust Co. v. Beauvais, Case No.: 3D14-575 (Fla 3rd DCA April 13, 2016) - Based on Beauvais, lenders should take a look at their loan documents, paying particular attention to any non-waiver and...more
In Bank of America, N.A., v. Delgado, et al., 3D13-910 (Fla. 3d DCA May 6, 2015) the Third District Court of Appeal offered some relief to banks and loan servicers still reeling from the effects of Hunter v. Aurora Loan...more
In Russell v. Aurora Loan Services, LLC, 40 Fla. L. Weekly D967a (Fla. 2d DCA Apr. 24, 2015), Florida’s Second District Court of Appeal added to the emerging line of case law regarding the proof required to establish standing...more