Example 1. Borrower’s loan documents provide that borrower may obtain the release of noteholder’s lien on a portion of the collateral (Parcel C) if: (1) borrower pays a $1.5 million release price to pay down part of the...more
Background: A REMIC that forecloses on real property might appear to have an advantage over other real estate owners when operating, leasing, and ultimately disposing of that property (referred to as “REO property” once...more