Loans

News & Analysis as of

Tennessee Allows Industrial Banks To Charge Fees For Electronic Payments

On April 4, Tennessee Governor Bill Haslam signed into law SB 1486, which authorizes registered industrial banks, industrial loan and thrift companies, and industrial investment companies to charge a convenience fee to any...more

The Nevada U.S. District Court Narrowly Interprets Sandpointe Apartments when Ruling in Favor of Entity that Acquired Loan Before...

On June 10, 2011, Nevada enacted Assembly Bill 273 (AB 273). As codified at NRS 40.459(1)(c), AB 273 limits the ability of a loan purchaser to collect a deficiency on the note and guarantees by basing the deficiency...more

Maryland Changes Rules for Enforcement of Rights and Remedies Under Loan Documents Secured by Residential Property

The Maryland General Assembly has enacted legislation (House Bill 274/Senate Bill 708) that significantly impacts secured lenders’ rights to enforce financing documents secured by residential property. The legislation --...more

Examples of 2014 DOE Grants, Loan and Financing Programs – Part 3 of 3

In our last two posts (Part 1 and Part 2), we highlighted a number of available DOE grants. Today, we will highlight a one recently announced grant as well as an available loan program....more

Financial Services Law

D.C. Circuit Court Upholds Fed’s Debit Card Fee Cap, Antiexclusivity Rules - Dealing a blow to merchants nationwide, the D.C. Circuit Court of Appeals reversed a lower court and upheld the rules promulgated by the...more

Examples of 2014 DOE Grants, Loan and Financing Programs – Part 1 of 3

The U.S. Department of Energy (DOE) supports a wide range of grants, loan and financing programs and also funds transformational and up-and-coming technologies that create innovative ways to source, distribute, and use energy...more

Intent-to-Use Trademark Applications and Security Agreements

In financing transactions, such as loans or securitizations, the lender who provides the financing will typically take a security interest over the assets pledged as collateral against the borrower's compliance with its...more

Flood Insurance Reform Bill with Escrow Amendments Awaits President’s Signature

The U.S. House of Representatives and Senate recently passed, and the President is expected to sign into law, amendments to the Biggert-Waters Flood Insurance Reform Act of 2012 (the Act). The legislation seeks to address...more

Update of California Statutory Law – The California Revised Uniform Limited Liability Company Act – Lenders and Borrowers Beware

The California legislature recently enacted the California Revised Uniform Limited Liability Company Act which made some important changes to existing California law affecting both lenders and limited liability company...more

Wealth Management Update - March 2014

March Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts The March § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

Fast Five: Rhode Island Appellate Practice - March 2014: Lenders Beware! Usury Savings Clause Does Not Validate Usurious...

In a case of first impression that has important implications for lenders in Rhode Island, the Rhode Island Supreme Court held this term that a usury savings clause in a commercial loan document does not validate an otherwise...more

Revised LMA Standard Terms And Conditions For Par And Distressed Trade Transactions (Bank Debt/Claims) – ‘The Plainer English...

Background - The Loan Market Association (“LMA”) recently produced a revised version of the LMA Standard Terms and Conditions for Par and Distressed Trade Transactions (Bank Debt/Claims) (the “Revised Terms and...more

Courts Tackle Meaning of “May” Under the Finance Lenders Law

Section 22340(a) of the California Financial Code provides that a licensee “may sell promissory notes . . . to institutional investors.” Does this mean that a licensee may only sell promissory notes to institutional...more

Borrower Beware: Loan Transactions can be a Taxable Event for U.S. Corporations that have Foreign Subsidiaries

A loan transaction is generally not thought of as resulting in a taxable event. But it can if the borrower is a U.S. corporation (U.S. Co.) with a foreign subsidiary (FS). More specifically, a loan transaction can trigger a...more

Bifurcated Note Implementation - Looking Beyond Traditional Risk Metrics to Prevent Borrower Windfall

In the world of large loan modifications, servicers and borrowers have turned frequently in recent years to the A/B Note structure in situations where the collateral financed by a loan is valued at less than the outstanding...more

Are Credit Bids in a Deep Freeze?

A Delaware bankruptcy court recently limited a secured creditor’s right to credit bid an acquired claim to the purchase price of that claim. In In re Fisker Auto. Holdings, Inc., 2014 Bankr. LEXIS 230 (Bankr. D. Del. January...more

HUD Implements New Manual Underwriting Standards

On January 21, HUD issued Mortgagee Letter 2014-02, which implements new manual underwriting standards announced in December 2013. The new standards and guidance will be effective for all case numbers assigned on or after...more

Recent Fourth Circuit Case Addresses Unlimited Spousal Guarantees Under The Equal Credit Opportunity Act

Bankers know to exercise caution when requiring a spouse to co-sign or guarantee a loan to the other spouse’s business. The Equal Credit Opportunity Act (“ECOA”) generally prohibits lenders from requiring a spouse’s signature...more

Loan Financing Remains an Attractive Option in Southeast Asia

The second annual Borrowers & Investors Forum, Southeast Asia was held in late 2013 in Singapore. The forum explored fixed income funding and portfolio opportunities in the region....more

Treasury Department Opposes HARP Expansion, Use Of Eminent Domain

On January 22, Michael Stegman, Treasury Department Counselor for Housing Finance Policy stated in remarks to an industry conference that the Treasury Department opposes expansion of the Home Affordable Refinance Program...more

Utah Court of Appeals Limits Third-Party Beneficiary Contract Claims Against Appraisers, but Recognizes Tort Based Third-Party...

In Lilley v. JPMorgan Chase, et al, 748 UT Adv. Rpt. 48, 213 Utah App. 285, Nov. 20, 2013, the Utah Court of Appeals affirmed an order of the District Court dismissing the Plaintiffs’ breach of contract action against an...more

Tax refunds and bankruptcy. Do they go together?

Now that it's the year 2014, are you expecting a refund on your taxes for 2013? If so, are you also thinking about filing bankruptcy? Let's see how that might work....more

CFPB 2014 Regulatory Outlook: Nonbanks

In this presentation: •Welcome •A look back at 2013 •Enforcement Actions: - Who’s at risk and what to expect •Nonbank Supervision and Examination: - Lessons learned and which markets are...more

Wealth Management Update - January 2014

January Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The January § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more

CFPB Filed Complaint Against Debt Collector Alleging UDAAP Violations

The CFPB filed a complaint in the United States District Court for the District of Massachusetts against a debt collector alleged to have engaged in unfair, deceptive and abusive acts or practices in violation of the Consumer...more

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