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Loan Modifications › Lenders

Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist... more +
Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist borrowers in meeting their obligations and avoid foreclosure. Such mortgage loan modifications may include reduction of principal amount or interest rate, lengthening of loan term, and monthly payment caps. less -
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

White and Williams LLP

The New York Lien Law - Top Ten Things You Ought to Know

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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

Cadwalader, Wickersham & Taft LLP

We Can Work It Out: The Need for Pre-Negotiation Agreements

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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

Blank Rome LLP

California’s Highest Court Confirms Lenders Owe No Duty to Borrowers to Process, Review, and Respond to Loan Modification...

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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

Patton Sullivan Brodehl LLP

Loan Modifications and Losing Lien Priority

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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

Winstead PC

Seth Eaton Discusses Modifications and Workouts of Commercial Real Estate Loans during the COVID-19 Pandemic

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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

Greenbaum, Rowe, Smith & Davis LLP

The Clock Is Ticking Towards the End of LIBOR; What Borrowers Can Do Now to Mitigate the Risks

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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

Womble Bond Dickinson

10 Key Considerations for Commercial Real Estate Loan Restructurings: A Primer

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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

Goulston & Storrs PC

Worst-Case Scenarios: Navigating The ‘What Ifs’ Of Coronavirus

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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

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Revisiting Pre-Negotiation Agreements in the Era of Covid-19

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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

Burr & Forman

Financial Regulators Update Previous Statement on Loan Modifications and Reporting Pursuant to CARES Act

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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

Maynard Nexsen

Need a Loan Modification? ASK! - Guidance on the CARES Act and Banking

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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

Patton Sullivan Brodehl LLP

Can a Loan Modification Waive the Borrower’s Right of Reinstatement?

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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

McGlinchey Stafford

Top 11 Tips for Lenders Navigating Commercial Loan Modifications in Response to the COVID-19 Outbreak

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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

Seyfarth Shaw LLP

Loan Document Covenant Concerns and Operational Issues in the Age of COVID-19

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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

Sheppard Mullin Richter & Hampton LLP

Lenders Encouraged to Work with Customers in Response to COVID-19 Challenges

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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

Locke Lord LLP

California Court of Appeal Rejects Tort Duty in Reviewing Borrower for a Loan Modification, Highlighting Split Among Intermediate...

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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

Ward and Smith, P.A.

Lenders: Take a Hint! Forbearance or Modification Agreements Should Contain Specific Waiver Language to Protect Against...

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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

Ervin Cohen & Jessup LLP

Careful Who You Trust. A Lender Can Be Liable For The Negligence And Misrepresentations Of Its Loan Servicers, Even Absent Any...

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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

Dorsey & Whitney LLP

The Moronta Decision in Massachusetts – Determining A Borrower’s Ability To Repay

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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

Poyner Spruill LLP

Secured Lenders – Stay on Top of the Law or Proceed at Your Own Risk

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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

Burr & Forman

Sixth Circuit Weighs in on TCPA “Prior Express Consent”

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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

Burr & Forman

Another Bankruptcy Court Confirms Plan Reference to “Surrender” Means Not Defending a Lender’s Foreclosure

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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

Buchalter

How to Aggressively Defend Against Lender Liability Lawsuits

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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

Goodwin

California Appellate Court Holds Lender Failed to Follow HAMP Procedures

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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

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